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My experience about Bitcoin

4 17 exc
Avatar for shimul123
Written by   4
1 year ago

What is Bitcoin? Bitcoin is a digital or virtual currency or in simple language it is an internet money because in reality it does not exist. If you want to use Bitcoin, you need to use it online. Bitcoin is a digital currency which means there is no bank or government to make it orbital. It works on PS2PS network. Bitcoin users believe it is a currency and in this way it has become a global currency. Bitcoin was invented by Satoshi Nakamoto in bitcoin create 2008. And since then it has become very popular. Bitcoin price today I saw 1 bitcoin equivalent to 13,26,201.78 Bangladeshi rupees. But there is no such thing here if you want to buy bitcoin then you don't have to buy 1 bitcoin with 13,26,201.78. In fact, the smallest unit of bitcoin is satoshi and 10,00,00,000 satoshi is equal to 1 bitcoin. For example, 100 paise is 1 taka. This way 10,00,00,000 satoshi means you can divide or divide one bitcoin up to 8 decimals. If you can use 0.001 bitcoin then you understand that you don't have to use 1 bitcoin. What is Bitcoin Wallet? In fact, you need to have a wallet to make Bitcoin Easter. There are many poker application software and good page wallets that you need to account for. The first thing is that Bitcoin will give you a unique address for example. If you are eran from Bono place or you want to bring the mining set to your account, then you have to give your unique address. If you want to buy bitcoin then you will need bitcoin and if you want to sell bitcoin and take it to the bank then you will need bitcoin wallet. Where can I get bitcoin? 1. You can buy from local currency. 2. You can also accept Bitcoin instead of Anv service. 3. You can eran the website or application. You can do mining. What is mining? Before you know Mining, let me tell you that just as there is a limit in every country that cannot print more notes or money, there is a limit with Bitcoin that cannot enter the market of more than 21 million. And the new bitcoin comes through mining. For example, I sent you 5 bitcoins to verify this transaction and the one who verifies is called minor. Minor has a high performance computer high performance GPU. And with the help of it verifies the transaction. Usually when Bitcoin is sent and a verification is done to see if there is any cheating or harassment in any way. And in the context of verification, he gets some bitcoin rewards. And this is how the new bitcoin comes to the market. Advantages of Bitcoin: 1. Transaction fee is much lower. 2. Bitcoin can be sent anywhere in the world without any harassment. 3. Account is not freeze. 4. If you invest for a long time it can be very profitable because so far Bitcoin has been seen in the rewards day by day. Disadvantages of Bitcoin: 1. There is no government, bank, authority. Due to this, the rate goes up and down all the time. For example, 1 bitcoin can be seen that কখনো 1000 can sometimes become 900 900 or 00 1200. 2. Account can be hacked. 3. Bitcoin will be lost if the stored hardware is damaged.

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Avatar for shimul123
Written by   4
1 year ago
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Comments

Well written. good article.I hope you will write better in the coming days.

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1 year ago

tnx

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1 year ago

Not a bad article to help a new individual understand bitcoin =) I think the biggest piece that keeps people from starting with it, is the idea that it has no physical trace, but really that It can be divided up so much, a find a lot of people I talk to don't realize you don't have to buy a whole bitcoin at a time.

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1 year ago
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1 year ago