What is Bitcoin? & Why it is most Famous Cryptocurrency?


Perhaps you must be heard about Bitcoin. Bitcoin is an online currency. And probably you may also knew that this is the name of an online currency on an Internet. But you would not know for sure that when did this currency come into existence? What was the purpose of making it? How does it work?

We will justify All these things today.


Bitcoin named the currency as 8 years ago today, invented by A Software Developer named Satoshi Nakamoto on 3 January 2009,
the primary purpose of this online currency was to avoid the banking system and transect from one place to another in low fees, Bitcoin is an online cryptocurrency, Which does not exist and only safe in Bitcoin wallet on the Internet, From this, you can send and buy Bitcoin to anyone, all your transactions are intrigue. No other person has known about this To the texture of Bitcoin currency first we need to understand the texture of common currency.

Suppose! The money which is in your pocket, It can be in any currency like Dollar, Euro or Dirham, Rs etc. you can physically touch it.

Similarly, Central Bank Controls currency, when this money/currency transect, Bank keeps all the records. This process is known as the money trail. But in Bitcoin, there are no such things. The reason behind this no bank has a control over it.

As far as Bitcoin valuation concerned, it depends on supply & demand. The more people buy, Demand for this increases. Oppositely, If its demand is low, & supply is high then its price Decreases.


When bitcoin was newly launched, The actual price of bitcoin was $1 USD, although its current price is $9989.70 USD. & it is getting high day by day due to its demand.

There are two ways to earn bitcoins:

1: You can Sell your product or provide services and get paid in bitcoin.

2: Another one & famous method to earn Bitcoin is Bitcoin Mining. Bitcoin Mining Is done throughout the world. for this purpose, many powerful computers are taken together & solve Mathematically calculation & Algorithm instead of this, the computer owner gets paid few bitcoin as a reward. this way new Bitcoins are formed every day.

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Haylook | Nothing Like Anything: What is Bitcoin? & Why it is most Famous Cryptocurrency?
What is Bitcoin? & Why it is most Famous Cryptocurrency?
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