New Delhi, May 5. Bitcoin currently has a rate of $ 55,069.37 on the Quindesk. It is currently down by 1.55 per cent. At this rate, Bitcoin has a market cap of $ 1.03 trillion. During the last 24 hours, the maximum price of bitcoin has been $ 56,662.44 and the lowest price has been $ 52,987.16. As far as returns are concerned, Bitcoin has given 88.97% return in last one year. Bitcoin has an all-time high price of $ 64,829.14.
What is bitcoin
Bitcoin is a virtual currency. Just like there is currency in the world, it is bitcoin. We can only place Bitcoin in online wallet. Bitcoin was invented by Satoshi Nakamoto in 2009. Thus, bitcoin is a descentralized currency. Anyone can use bitcoin.
Why is bitcoin used
We can use bitcoin for online payment or any kind of online transaction. Bitcoin works on the way peer-to-peer networks are meant to be. Bitcoin is considered to be the fastest and best to use in transactions.
No bitcoin owner
Just like we do online transactions using the rest of the currency, we have to follow the bank’s payment process, only after that the payment is completed. Every transaction done by us is accounted for in the details of our bank account. From this it can be found out from whom we received payment and to whom. But nobody owns Bitcoin. Therefore, it is difficult to know the book of the transactions done with him.
What is bitcoin wallet
We can only store bitcoin electronically. A bitcoin wallet is required to keep it. There are many types of bitcoin wallets, such as desktop wallet, mobile wallet, online wallet or other similar wallets. These wallets give us the unique ID as the address. If you want to buy or sell Bitcoin, then you will need these wallets.
How to prepare bitcoin
The first way is that if you have the money, you can buy a bitcoin directly. The second way is if you are selling goods to someone online and if that buyer has bitcoin, then you can take bitcoin in exchange for money. The third way is to mine bitcoin. For this, a computer with high speed processor will be required. The hardware of this computer should also be good.
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