What is Bitcoin?

Bitcoin is a digital currency. Bitcoins are created as a reward for payment processing work in which users offer the computing power to verify and record the payments into a public ledger. This activity is referred to as mining and miners are rewarded with the transaction fees and newly created bitcoins. Besides being obtained by mining, bitcoins can be exchanged for other currencies, services and products.

As there are many currencies like Dollar, Euro, INR, Yen, etc. which are used to trade or to purchase. This bitcoin currency you cannot be touch and feel but it’s stored electronically on your device like computer or phone. It’s not a coin, but it’s a virtual or digital currency which is stored on your device.

Click on Below Link to know the History of Bitcoin:

https://www.danielstrading.com/2018/01/04/infographic-history-bitcoin-explained

In this Blog, today we learn about what is Bitcoin Mining? How does Mining process work? And how can you earn Bitcoin?

What Is Bitcoin Mining?

Bitcoin mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions. This ledger of past transactions is called the blockchain (How to Profit from the Blockchain) as it is a chain of blocks. The blockchain serves to confirm transactions to the rest of the network as having taken place.

Bitcoin does not have any controlling authority, and these are the reason why bitcoin values get fluctuated every time.

How Does Bitcoin Works?

As there is not controlling authority for bitcoin, so when if you want to send bitcoin to someone then who should verify it? So for verifying there is a maths problem attached to a transaction and many users all over the world do bitcoin mining.

These miners have the powerful computers, powerful GPU, ASIC which are design for bitcoin mining. Then they solve the math problems, and when they successfully solve the problem, and then the transaction will be verified and completed. Also, the miners will get some amount of bitcoin for those mining process.

Click on Below Link to Understand The Basic Concept of How Bitcoin Works in 5 Minutes:

Bitcoins are divided into the eight decimal points as 1 $ is divided into 100 cents. 0.00000001 is the smallest amount of bitcoin which means 1 Satoshi. 1 Satoshi is the smallest amount of bitcoin which you can use for trade.

But if you purchase Bitcoin, there is large risk because bitcoin rate can increase or decrease any time as there is not controlling authority. Bitcoin value does not remain stable, and it gets fluctuated.

How Can You Earn Bitcoin?

Bitcoin can be earned by mining. Bitcoin mining is a technique by which you can make money through the computers which have the high power and GPU. You can do bitcoin mining on computers which have the high GPU as it solves the problem and helps for doing the transaction which is done

Click on Below Link to Understand the Process of How to Mine Bitcoins Using Your Own Computer:

You can do Bitcoin mining on your computers which have high GPU as it solves the problem and help for doing the transaction which is done worldwide or you can purchase Bitcoin Miner which can mine bitcoin. There are many Bitcoin Mining Hardware available on the Internet which you can buy and start Mining.

To Buy Bitcoin Mining Hardware Click Here

Purchase the bitcoin miners and start mining Bitcoin. But check that the bitcoin which you are getting from bitcoin mining is more than electricity consumption.

So if you are using the powerful computer and mining rate is higher than only you can earn more bitcoins. Otherwise, you will spend all your money on electricity which it consumes. So make sure that you have higher mining rate.

Every person wants to earn money online, and many people have heard of Bitcoin. In this Blog, we learn about bitcoin. What is Bitcoin Mining, How does Mining process work and how can you earn Bitcoin.