Bitcoin is a digital currency created in 2009. Then through years, it took place as an actual currency above all currencies worldwide.
Its price moved fast by moving from 0.10$ in 2009 to its highest peak in December 2017 with a value of around $19, 000.
It is believed Bitcoin was created by an individual or a group called Satoshi Nakamoto.
Bitcoin it is a digital currency used for many things like making a transaction or doing a purchase through online payment.
What makes bitcoin so unique?
1-It isn’t controlled by an institution. The government or bank institutions don’t have access to the transaction. They may own portions of it but no one has ownership rights over bitcoin.
2-There are only 21 millions of bitcoin in the world. Till now exist 16.7 million bitcoins, others aren’t circulated yet. A few bitcoins tickle every hour until the maximum number (21 million) is reached.
3-Bitcoin operates in anonymity. Users don’t have to identify themselves when sending bitcoins.
When you submit the request to make the transaction, the protocol looks at all the past transactions to make sure the user has the authority and the right amount to send.
It takes only a few minutes for ledgers worldwide to confirm your transaction.
The transactions you make are permanent. The only way to reverse it is for the receiver to pay you back via another transaction.
How can you purchase a Bitcoin?
There are 2 ways to earn it. By purchasing it with real money or mining.
You can sign up for a bitcoin wallet service such as Bitcoin.org, Coinbase or Blockchase.info.
You can sign up to one of these sites, enter your e-mail address and set a password. Then connect your bank account or the debit card.
Use Google authentication or use YubiKey for a security key.
You should be vigilant about the sites you visit. Scammers may use
phishing sites that can look official and you may fall into the trap.
Another helpful tip is to NEVER follow and engage with a link you receive on your email address.
Be aware of sites that promise quick profits and trading tips.
Bitcoin.org has a short guide to protecting your wallet.
How can you make a bitcoin?
Making a Bitcoin is also called mining Bitcoin.
It is a process who uses supercomputers with the best hardware items like graphical driver and central processing unit (CPU) due to hard work it requires.
Before mining a Bitcoin, you first need to understand what mining is and how it functions.
Minning is accomplished by running SHA256 double round hash verification processes to validate Bitcoin transactions and provide the security for the Bitcoin network.
To mine a Bitcoin you have to solve math algorithms.
However, these are the steps you have to follow to mine a Bitcoin:
1-Get the best Bitcoin Mining Hardware
If you want to mine bitcoin then you need ASIC devices.
ASIC stands for application specific integration circuit. They are chips designed to mine bitcoin.
ASIC technology has made Bitcoin mining faster while spending less energy.
Bitcoin mining nowadays can spend more on electricity than you can make. So, it’s crucial to calculate how much are the costs and how much you will earn.
2-Download free bitcoin mining software
Once you’ve received your Bitcoin mining hardware, you must download a special program used for Bitcoin mining.
Software’s job is to connect the hardware to the rest of the Bitcoin’s network.
There different software depending on the operating system you use.
Best software for Windows is BTC miner on windows 10 or Windows 8.1.
For Linux are CGMiner and Easyminer
3-Join a Bitcoin mining pool
Once you are ready to mine bitcoins then we recommend joining a Bitcoin mining pool.
Bitcoin mining pools are a group of peoples working together to solve a block and share in its rewards. Without bitcoin mining pool you might mine bitcoins for more than a year and still not be making bitcoins.
A mining pool to see is Slushpool.
You can use your existing bitcoin wallet to receive the bitcoins you earned through mining.