Bitcoins is the form of digital currency held electronically. Bitcoins are not printed like Dollars, but they are produced by people. One of the known currency about this is Cryptocurrency.
What makes it different from other currencies?
One of the most important thing that makes it different from other currencies is, this is decentralized.No one controls this currency. You can use this electronically like for shopping online and other stuff.
Who created it?
A software developer named Satoshi Nakamoto proposed bitcoin, which was an electronic payment system. The main idea behind creating this is to produce a currency that is independent of any central authority, not hold by any system.
Who prints it?
As i described above, bitcoins is not printed on papers like you see dollars and other paper currencies. This is a digital currency not owned by any authority. Bitcoins are mined by computing power in a distributed network.
What is bitcoins based on?
As you all know, when you handed a dollar to bank then in return you receive a gold (that is not actually work in practical). But bitcoins is really based on mathematics.
What are the characteristics of bitcoins?
There are some characteristics of bitcoins that i am going to tell you guys which are listed below.
Yes, this is really a true thing. it is anonymous means you can hold multiple addresses of bitcoins which are not linked to any names and addresses.
No Transfer fee:
Your bank may charge you some money for transfer but in this case bitcoins does not charge you even a single penny.
As I mentioned above, this is the great aspect of this currency because no one holds this currency. No authority rules this, people produced and use in a way they like to use.
Rates of this currency waves up and down like other currencies. you can check the latest rate in any currency online.
Easy to setup:
Unlike your bank accounts, its very easy to setup. If you want to open a bank account, you need to answer a lot of questions and pay an opening fee. But, in this case, you don't even pay and don't need to answer questions.
How you can earn Bitcoins?
This is a question that is very often asked by others. Here I am going to tell you the earning process of bitcoins.
This is the very useful site through which you can earn bitcoins. i have been using this site and its fun to work on this platform.
This is also a great platform. If you have bitlanders account then you can easily log in to this site by using the same address.
These are the best way to earn i have found so far.
So this is all for now. In the next blog, I will show you how to use bitlanders to earn bitcoins. Until then I would like to thank all of you for reading this.