WHAT IS BITCOIN AND WHARE IS USED ?

INTRODUCTION :-

Hello Friends how are you all once again I welcome to all of you in my website Technology Inspire (what is bitcoin and where is it used).

what is bitcoin , how does it work and where is it kept . If you want to know all this , then now you have come to the right website .

You all must have heard the name of bitcoin . If you do not know anything about bitcoin , then there is no need to worry , because today with the help of this article you will get complete the help of this article you will get complete information . Just read this article till the end .

So without delay let’s start the article .

WHAT IS BITCOIN ?

First of all we will talk about what is bitcoin . Bitcoin is a virtual currencies . That is Dollars , Rupees , Rubles are all physical currencies that you can easily see and touch , but this is not the case with Bitcoin . You can neither see and touch it . Also bitcoin is completely decentralized which means that no government or bank has any control over bitcoin . That is , no one owns it . Anyone can use it .

Invention of Bitcoin :-

It was invented by satoshi nakamoto in the year 2008 . which was released in the year 2009 as global payment , it cost only $ 0.01 while in 2022 its price is more than $ 50000 . That is , in just 12-13 years , bitcoin has traveled from zero to fifty thousand dollars .

Work :-

Now we will know bitcoin works . we use it for online payments like online transaction , Ticket booking , Shopping and not only this you can also use it by converting bitcoin according to your country’s currency .

WHERE CAN WE KEEP BITCOIN ?

We can keep bitcoin only in digital locker i.e. digital wallet because bitcoin is in digital form . Now the question when the price of bitcoins is so high then how can we buy bitcoins then there is nothing to worry in this because it is not necessary that you buy only one bitcoin but we can also buy Satoshi . Satoshi is a unit of bitcoin itself . There is a total of 100 million Satoshi in one bitcoin . Meaning you can start with an investment of just $ 1 .

Disadvantages of bitcoin :-

Till now , where we were talking about the advantages as well . yes , every coin has two sides .

Yes Friend , today in this article I will tell you about the disadvantages of bitcoin so that you are not foolish about the dangers of bitcoin .

So let me tell you that there is no authority or bank to control bitcoin , due to which its price fluctuates . So the investment in this is a bit risky . Also if your account is hack you will lose all your bitcoins and it cannot be recovered . No one will be able to help you in this .

So if you buy bitcoins , keep the privacy of your account to yourself . Do not share this with anyone else .

YOUTUBE HELP :-

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NOTE :-

I hope that in today’s article you all know well what is Bitcoin , how is work and where is kept ?

Thank you all for reading this article till the end . If any one of you feel that some changes are need in this article or if you all want an article on some other topic , then definitely tell in the comment box so that very soon I will give another update on that article or that doubt . I can clear .

So that’s all for today , with another new update in next article , good bye till then!

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