What Is Bitcoin- Brief Explanation

Are you looking for a way to earn some extra cash or build up your wealth portfolio? Bitcoin is a great option for doing so.As from today i will start posting many ways that you can start making a lot of money from bitcoin.

There are several ways to make money from Bitcoin such as

  • Mining
  • Investing
  • Playing games
  • Exchange etc.

But before we go further, we need to know what bitcoin is all about 

Below are some definitions of bitcoin from some selected website and links to follow for more details on how it works.

1. bitcoin.org

Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

2. coinbase.com

Bitcoin is digital money used for secure and instant transfer of value anywhere in the world. It is not controlled or issued by any bank or government – instead it is an open network which is managed by its users. Much in the way email improved communication by making it fast and cheap, bitcoin is an improvement on existing payment methods which were not designed for the internet era. 

3. money.cnn.com

Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants are beginning to accept them: You can buy webhosting services, pizza or even manicures.

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Now take your time to understand more about bitcoin before we move to how to make money with it. Wait for my next post!!!

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