What is Bitcoin? | Bitcoin क्या होता है?

What is Bitcoin? Bitcoin is a virtual currency. This is a currency that no one can see it is found in the virtual form. Let’s save it in electronic form. Its trend is growing significantly in the Present. You can buy it like any other currency like Dollar, Rupee, Krona, Dinar etc. Let’s find out in detail in this blog that Bitcoin kya hai.

 

THIS BLOG INCLUDES:
What is Cryptocurrency Currency?
Bitcoin Kya Hai?
How does Bitcoin Produce?
Uses of Bitcoin
How do trade in Bitcoin?
Bitcoin has its own Exchange
It’s Safe to Invest in Bitcoin
Rate of Bitcoin
Advantages of Bitcoin
Disadvantages of Bitcoin
How to buy Bitcoin?
What is Bitcoin Miner?
Indian Government’s action on Cryptocurrency

What is Cryptocurrency Currency?

Cryptocurrency is a virtual currency, that is, it has no physical existence. This is a currency built on a computer algorithm, only available on the internet. There are many crypto currency in the world like-Bitcoin, RED coin, SIA coin, Ethereum, Ripple (XRP) and Monero. It is quite popular in the world because of its profitability.

Bitcoin Kya Hai?

Bitcoin Kya Hai
Source – हिदी सहायता

Bitcoin is an English word ‘Crypto’, which means secret. Bitcoin runs based on the rules of Cryptography. Cryptography means the art of solving coding language. Let’s save Bitcoin to Bitcoin wallet. We use this to perform a secure online transaction. It comes in series 0 and 1.

It is adopted as exchange by large companies like Microsoft, Tesla etc. It was created by Satoshi Nakamoto in 2008 but was launched as open source software in 2009. Its smallest unit are Satoshi, 1 Bitcoin = 10,00,00,000 Satoshi. Satoshi Nakamoto is called the founder of Bitcoin.

How does Bitcoin Produce?

Bitcoin is not so easy to produce it takes a lot of effort. This is an electronic currency from the mining method that increases its price. Miner solves mathematical and cryptographic problems. On solving this problem, let’s record miner as Bitcoin block. The Mining process is lengthy. These are created in limited numbers, so the demand for it is increasing due to this.

Uses of Bitcoin

Bitcoin is used in different online transactions. These work on the P2P network. Nowadays online developers, NGOs use it for online transaction. Online payment like we make transactions in bank, we can find out who has the payment. But the record of Bitcoin does not occur in public ledger. It cannot be tracked when exchanging between any two Individuals. The record can only be seen twice once someone has made a purchase and the second time someone is selling.

How do trade in Bitcoin?

Bitcoin digital wallet has save. Its prices are not the same everywhere. Its price is unstable, it depends on activities around the world. Crypto trading has no fix time and its price fluctuates.

Bitcoin has its own Exchange

Trading in Bitcoin began in 2011. This requires the user to create an account first. After Email confirmation and account verification, You need to choose the trading method. Bitcoin trading cart for Trading contains the history of the price of Bitcoin.

It’s Safe to Invest in Bitcoin

In 2013 RBI does not have official permission in press release, but it does have some risks. If you forget your password you will lose your money forever. Many times the price of Bitcoin drops from 40 to 50 percent in a single day without warning.

Rate of Bitcoin

Currently 1 Bitcoin has a value of Rs 40,86,380 in India. It does not have any control over the authority, so its prices continue to decrease according to the market.

Advantages of Bitcoin

Bitcoin Kya Hai
Source – PTR News

Bitcoin can send anywhere and anyone worldwide.
Bitcoin’s account is not blocked, as are sometimes blocked in our bank account.
Can use it in international transactions and it costs transaction fees.
It does not play the role of a middleman, which leads to a low cost transaction.
It has not been recognized as Statutory in any country so it can be used at no additional cost.
Disadvantages of Bitcoin

Some of the disadvantages of Bitcoin are:

The biggest disadvantage of Bitcoin is that you lose all your Bitcoin if your data is hacked and unable to recover or if you forget the password.
No authority has control for which reason it can be used to buy illegal things.
How to buy Bitcoin?

You can use 2 websites to buy Bitcoin. Let’s know how to buy Bitcoin-

Unocoin-there doesn’t seem to be any additional fees to buy Bitcoin on this website. You can integrate with trade Uno point. If there are any fluctuations in Bitcoin you can immediately send or keep it does not take any charge box. It can also sell auto.
Zebpay-you can also make DTH stop now with the help of Bitcoin.
What happens to the Bitcoin miner?

In all countries there is a limit on publishing currency notes, just as there are limits on creating Bitcoin. The limits are that Bitcoin can not exceed 21 million (2 million 10 million) in the market. It is currently close to 13 million (1 crore 30 lakh) in the market. Those new Bitcoins come through mining.

Let’s say you want to send Bitcoin to someone, let’s verify that sending process and let the verifiers call the miners. There are high-power computers. Let’s verify bitcoin transactions from these computers.

Government of India’s action on Cryptocurrency

The government of India is going to bring the bill on cryptocurrency in the Winter Session of Parliament. Which is preparing to ban all private cryptocurrencies with a few exceptions. The bill titled’ The cryptocurrency and regulation of official digital currency bill 2021 ‘ will be introduced in parliament session.

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