What is Bitcoin? How do I earn money from Bitcoin? Definition Tutor | Tutorial Guru
0What is Bitcoins? Bitcoin is a decentralized digital currency, which means it doesn't belong to anyone, country or company and no single person controls it. It's also not printed like dollars and euros. There are only 21 million bitcoins in the world. It can be used to buy and sell things online. It's the first example of a growing category of money known as cryptocurrency. The introduction of bitcoin as a decentralized currency has been seen as a way to avoid the inflation and devaluation that are usually associated with paper currencies. Bitcoins are transferred digitally from one individual to another, thus avoiding the need for any third-party institutions or banks, which also prevents fraud.
How do I earn money from Bitcoin?
Bitcoin is a digital and global currency that is created and held electronically. Bitcoin uses peer-to-peer technology to operate with no central authority or banks managing transactions and the issuing of bitcoins is carried out collectively by the network.
You can get bitcoins via bitcoin mining right in your browser. There are also several ways to purchase bitcoins (for example from an exchange like MtGox). Selling items for bitcoin is another easy way to accrue bitcoins, you can sell anything from products to services. Bitcoin is a digital or virtual currency, that is. Bitcoin can be traded for goods or services with vendors who accept Bitcoins as payment. The value of Bitcoin can fluctuate wildly from day to day, so be sure to research the current market prices before deciding on how many Bitcoins you would like to buy.
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