What is bitcoin?
Bitcoin is called Crypto in English, which means secret. Crypto means the art of solving coding language. Save bitcoins in bitcoin wallet. Use for secure online transactions.
Bitcoin was created by Satoshi Nakamoto in 2008 but was launched as open source software in 2009. Big companies have adopted bitcoin as an exchange. Like – Microsoft, Tesla etc.
The smallest unit of bitcoin is satoshi, 1 bitcoin = 100 million satoshis. Satoshi Nakamoto is called the founder of bitcoin.
Bitcoin is an electronic currency derived from the mining method, due to which its price increases. Minors solve mathematical and cryptographic problems. The mining process is lengthy.
Bitcoin is used for online transactions. It works on P2P network. Online developers do it for online transactions by NGOs.
Bitcoin is not recorded in the public ledger. It cannot be tracked. The exchange is taking place between any two persons. Its record can be seen only twice.
The record of bitcoin can only be seen twice, once when someone has bought it and the second time when someone is selling it.
Bitcoin is a digital wallet. Its price is not the same everywhere. The price of bitcoin is volatile, it depends on the activities around the world.
Bitcoin was introduced in 2011. For this, the user has to first create an account. After email confirmation and account verification, you have to select the trading method.
In 2013, RBI had said that it is not officially permitted, but there are some risks involved. If you forget your password you will lose your money forever.
The rate of bitcoin has no control over its authority, so its price keeps on increasing and decreasing according to the market almost daily.