Bitcoin is a type of currency that is not tangible as it is a digital form of currency. It is a virtual currency whose value increases with time. Bitcoin was developed in the year 2009 by a person named Satoshi Takemoto. It works in a peer to peer network. Bitcoins also reduce the transaction charges, when you make any online transaction you have to pay 1-2 percent of charge which is not found in case of bitcoins. You can easily earn free bitcoin by mining and doing some simple tasks.
How do bitcoins work?
For making transactions through bitcoins, you have to open an account in a Bitcoin wallet. There are many Bitcoin wallet providers through which you can open a Bitcoin account. Every Bitcoin wallet has a public key and a private key. When you make any transaction, each time your digital signature is recorded and is verified by the miners. All the Bitcoin transactions that are made are recorded in the block chain. The miners’ record these data in the block chain.
How to earn bitcoins?
You can easily earn bitcoins through micro earning where you have to do small tasks and is considered to be the best and cheapest way to earn bitcoins. The second method is by owing a faucet. Owing a faucet means having your website and you can earn money when the traffic increases on your website. The third way to earn bitcoins is through crypto blogging. You can deliver quality works on cryptocurrency and earn money. The crypto industry is increasing day by day as a result of which there will be more traffic in your crypto blog if you are holding one.
The main motive before inventing the bitcoins is to remove the middleman between a transactions. When you make any transaction, the bank works as middlemen and keeps some percent of the payment but Bitcoin is the first virtual currency that helps you to make transactions without any middleman making the process easier.