What Is Bitcoin? Uses Of Bitcoin, Everything You Need To Know

What Is Bitcoin?

Bitcoin is also a Currency, But it’s not a physical currency as Dollar and Rupee. It’s a form of digital currency created and held electronically. Bitcoin is also known as Cryptocurrency. You can store that Bitcoins in online wallets and also trade with Bitcoins. You can also send bitcoin to your friends or relative or for any other Online transaction.

Now, most of the people ask the question that is Bitcoin real or scan and is its legal form of currency. So the answer is definitely yes, the Bitcoin is 100% legal and it’s not a scan. From 2011-2016 criminal traders made Bitcoin famous by buying them in million of dollars. They buy Bitcoins because there is no control of any government or any law on Bitcoins.

So Bitcoin is totally out of law eyes, that’s why it’s used in a high amount of transaction and payments for criminal traders. Due to these all High Bitcoin buyers the value of Bitcoins Skyrocketed. In 2016 the value of 1 bitcoin is About Rs.55000 to Rs.75000.

In 2016 due to demonetization by Indian govt on 8 Nov 2017 many of traders who had a large amount of Black money use that money to Buy Bitcoins so that they will secure their money from Govt Eyes. Now in 2017 the value of 1 Bitcoin is Rs.1,75000 to Rs.2,15,000.


Where Bitcoin Can Be Used?

As I mentioned earlier that Bitcoin is a Currency, It’s not a physical currency but it’s an electronic currency. So as other currency, you can also use Bitcoins as Payment methods in various online store and you can buy Products and pay through Bitcoin.

Bitcoin can also be used for mobile recharge, purchasing Gift Voucher and for Earning money, Yeh! it’s true you can also earn money from Bitcoin like you have to Buy Bitcoins once it’s price is low and after some week or months if price rises then sell your Bitcoins at a high price.

Some Bitcoin Mining Sites…??

  1. https://btcprominer.life/147135
  2. https://bitminer.io/2113909
  3. https://www.startminer.com/675413

List of online stores that accept Bitcoin as the payment method

  • WordPress.com
  • Overstock.com
  • Subway
  • Microsoft
  • Reddit
  • Virgin Galactic
  • OkCupid
  • Tigerdirect
  • Namecheap
  • CheapAir.com
  • Expedia.com
  • Gyft.com

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These are only some of the examples which accept Bitcoin as the payment mode. For more websites, you can directly go to Google and search. I think now you understand that what is Bitcoin and where it can be used.