Bitcoin is a cryptocurrency system, peer to peer electronic cash system or digital payment system which can be transferred from one wallet to another wallet.The bitcoins are useful only when the other party accept our payment through bitcoins.
Features of the bitcoin
We cannot see or touch the Bitcoin price because it doesn’t have a physical form. It can be seen only through digital format such as figures in the wallet. We can see X number digit in the wallet who have the Bitcoin wallet.
Any bank, government or any individual have authority or control over bitcoin. Hence, it is a decentralized unit. It has no central server. There is no administrator. The Ledger is public. Anybody can see and store the records on their devices.Bitcoin price got negatively affected because of hacks and thefts from cryptocurrency exchanges. In September 2019, the Intercontinental Exchange began trading of bitcoin futures on its exchange called Bakkt. Bakkt also stated that it would launch alternatives on bitcoin in December 2019.
HOW TO EARN BITCOINS
Bitcoins can be earned by using two ways:
Bitcoins can be earned by purchasing of Bitcoin from some website. When we want to earn a Bitcoin then we have to pay an amount regarding the value of the Bitcoin in the market at that particular time. We can sale or purchase bitcoins using websites.
Bitcoin cannot be printed. They had to be generated by using process mining. When a person transfer bitcoin to another person blocks (cryptography hashes) are formed. The miners solve these blocks which are in the form of mathematical equations. In this process,the miners receive some bitcoins.
By keeping all the points in the mind, one should analyse themselves whether to invest in bitcoins or not because the demand for the bitcoins can change depending upon on the situations.