What is bitcoin?
Bitcoin is a payment system introduced in 2009 by developer Satoshi Nakamoto. Bitcoin is often called the first crypto currency. Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of market value. Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into public ledger. This activity is called mining and miners are rewarded with transaction fees and newly created bitcoins. It can also be traded for other currencies, products and services. Users can send and receive bitcoins for little transaction fees. Bitcoins are traded in stock exchanges, it can be used to buy stocks, commodities etc. So, the price of bitcoins fluctuates. You can find out the value of bitcoin here http://www.btcsatoshi.com/
Bitcoin is the most popular crypto currency in the world and one of the largest payment system. Bitcoin is not regulated by any Central Banks, it is decentralized. The bitcoin network is transparent, may see all the transactions in it.
What is a satoshi?
Each bitcoin (BTC) is divisible to the 8th decimal place, so each BTC can be split into 100,000,000 units. Each unit of bitcoin, or 0.00000001 bitcoin, is called a satoshi. A satoshi is the smallest unit of bitcoin. There are 100,000,000 in a BTC.
Bitcoins are different from normal printed currencies
Bitcoins are not printed like dollars, euros or rupees, they are produced by people and increasingly businesses running computers from all around the world, using software to solve complex mathematical problems.
The most important feature of bitcoin, is that it is decentralized, which means no banks or financial institutions controls the bitcoin network.
Bitcoins can be used to buy things electronically. In that sens, its like conventional dollars, euros or pounds which are also traded digitally.
Bitcoin is completely transparent
Bitcoin stores details of every single transaction that ever happened in the network .Bitcoin transactions are very fast.One can send bitcoins anywhere and it will arrive in minutes, as soon as the bitcoin network processes the payment.
The beauty of the bitcoin is that it’s fully decentralized, no government or corporations can block payments or revoke accounts.
Bitcoin has worldwide merchants.Thousands of merchants worldwide already accepts bitcoins as a mode of payment with new ones joining everyday
How can you create Bitcoin wallet?
A wallet is basically the bitcoin equivalent of a bank account. It allows you to receive bitcoins, store them and send them to others. There are two main types of wallets. They are software wallet and web wallet or hosted wallet
1) Blockchain wallet
Blockchain wallet is one of the trusted and oldest bitcoin wallet provider and it is very easy to create a bitcoin wallet on Blockchain. Just visit Blockchain.info and simply click on the sign up button and fill out the form. Blockchain’s wallet is an online free wallet which you can use send and receive bitcoins worldwide and you can use it to make payments for free with zero or very low fees.
2) Coinbase wallet
Coinbase is a web wallet with simple design and offers a number of different features that make it excellent for everyone. You can send and receive bitcoins via email and buy and sell bitcoins directly from Coinbase. Coinbase supports 32 countries including USA, Canada, Singapore, Spain Switzerland etc, from where bitcoins can be bought and sold directly. They offer mobile wallet which works on Android and iPhone in addition to web browser which enable to access full account functions on the go.
3) Zebpay Wallet( ONLY FOR INDIAN USERS )
Zebpay is an app enabled bitcoin wallet for Indian users. You can easily download Zeabpay wallet form your Android or IOS phones. The app is very easy to use and you can secure your bitcoins with 4 digit pin and does not worry about losing your bitcoins.
Zebpay is India’s first bitcoin company to launch simplest mobile Bitcoin wallet app that enables bitcoin transactions using mobile number without any complexities to understand bitcoin addresses, taking backups or fear of losing bitcoins.Using Zebpay wallet app, users can buy, sell, store and spend bitcoin using mobile number and a 4-digit pin.
Zebpay has partnered with major Indian Banks. You can also buy bitcoins directly from the Zebpay wallet.
All you have to do is download Zebpay Wallet form the Google Play Store from your Android Phone link https://play.google.com/store/apps/details?id=zebpay.Application&hl=en or https://itunes.apple.com/in/app/zebpay-bitcoin-wallet/id944854686?mt=8&utm_source=zebpay.com&utm_medium=website&utm_campaign=download-iphone if you are using iPhone.
After you download the Zebpay Wallet click on the right side menu. When you click on the menu you will see My address, Verification and other tabs. Click on the verification tab where you have verify your identity with PAN card and Bank Account details like Bank Account Number, IFSC code Bank name and Bank Account holder name. Remember your Bank Account details should match with your PAN card details. Submit all the details and they will review all the details and approve your Account within 7 days.Well in my case I was approved within 24 hours.
Once approved you can buy or sell bitcoins. You can also recharge your phone number with bitcoins.You can also recharge your DTH connection using balanc.You can even buy Amazon, Flipkart , Domino’s, PizzaHut Vouchers using bitcoin balance in your Zebpay account.
Click on the “free bitcoins” Tab from the drop down menu and enter the promo code= REF48679812 and receive Rs100 on your first transaction.
Click on “my address” from the drop down menu and you will be able to see your Bitcoin address, use this bitcoin address on all bitcoin faucets to receive bitcoins and you can sell your bitcoins on the Zebpay wallet and they will transfer the money to your bank account. It is very simple and easy to use. unlike Blockchain and Coinbase wallet. You can see below the screenshot of my Zebpay wallet. It shows the amount of bitcoins you have in your wallet and the value in INR.
If you want to earn bitcoins for free you need join various bitcoin faucets and earn bitcoins for free. A bitcoin faucet is a website that gives away free bitcoins to its registered users. All you have to do is sign up on these websites, solve a captcha and earn bitcoins. You can join these bitcoin faucets and earn bitcoins for free. You will need to solve captcha like this.
The first thing you need to do is download Zebpay wallet ( only for Indian Users ) verify your Zebpay Account and will get a bitcoin address, use that bitcoin address to register on all the bitcoin faucets and earn bitcoins. You can earn bitcoins from your mobile phone’s browser or from your PC.
Top 10 bitcoin Most trusted faucets to earn bitcoins for free
1) Freebitcoin ( Recommended)
Freebitcoin is one of the best site to earn bitcoins for free. It is the most exciting bitcoin faucet because recently they have added exciting new features like for every roll you play you will receive 2 free Lottery tickets and 2 free reward points. On every Sunday they draw the lottery and 10 winners are selected on a random basis.
The #1 winner could win up to 3 Bitcoins in prize. The more you play the more lottery tickets you can collect. You can even redeem your reward points for exciting prizes like electronic items like Apple iphone, Samsung Smartphones etc, gift certificates, BTC bonus, lottery tickets bonus etc. All you have to do is sign up with free bitcoin and solve captcha and earn bitcoins. You can solve captcha and earn bitcoins every 60 minutes.You can refer others and earn 50% commission.They do offer 4.08% annual interest on your bitcoins provided you have 30000 stoshi in your freebitcoin account.
Swissadspaysfaucet is one of the trusted and highest paying bitcoin faucet.You can earn bitcoins every one hour solving captchs and the captchas are very easy to solve.You can earn between 91-35577 satoshi. For every roll you play you will also receive 2 free lottery tickets. The more you play the more you can collect lottery tickets. On every Monday they draw the weekly raffle contest and 10 winners are selected on a random basis. So the more tickets you can collect you could win the raffles. They do offer 25% referral commission. You can refer as many people as you can and stock up your bitcoins and earn more. They also offer 4% – 10% annual interest on your bitcoins compounded daily depending upon the type of membership.
TrustBTcfaucet is one of the best and new bitcoin faucet where you can earn bitcoins every 5 minutes solving captchas. You will get between 10-888 satoshis every 5 minutes. Every week they draw raffle and 10 winners are selected on random basis. So anybody can win the raffles.You can refer others and earn 50% commission.
You can see in the above screenshot that recently I have withdrawn some BTCs from the TrustBTcfaucet. It was directly paid to my Zebpay wallet. You can see in the image bitcoin wallet address. Your bitcoin wallet address is 34 digit alphanumerical and it is case sensitive. You can use this address while registering bitcoin faucets.
Bitfun is one of the trusted and paying bitcoin faucet. You simply need to solve the captcha and claim bitcoins every 3 minutes.You can also play games and earn bitcoins. They also offer 50% referral commission.
Bonus bitcoin is one of the genuine bitcoin faucet where you can claim bitcoins every 15 minutes. Just register and solve captcha and earn bitcoins every 15 minutes. Refer others and earn 50% referral commission on all their faucet claims.
Moonbitcoin was established in 2015 and it is one of the best bicoin fucet where you can claim bitcoins every 5 minutes and earn bitcoin for solving a captcha. They also have a referral program where you can earn 50% referral commission.
Upbitcoin is one of the trusted bitcoin faucets. You can solve a captcha every 20 minutes and earn bitcoins for free. They also give loyalty bonus, so when you make a claim everyday your bonus increases by 1% until reaching 100%. You can get a maximum of 100% loyalty bonus. You can also refer others and earn 25% commission every time your referral makes a claim. When you accumulate atleast 10000 satoshi, you can withdraw to you wallet.
Getyourbitcoin is a free bitcoin faucet where you can claim bitcoins every 5 minutes. Just solve a simple captcha and earn bitcoins for free. You can refer others and earn 20% referral commission.
Timebitcoin is one the best bitcoin faucet where you can claim bitcoins every 5 minutes. You just need to solve a captcha and earn bitcoins for free. They also offer 10% referral comission. You are also entitled to receive 10% daily bonus on your total claims made for the day.
Easybitcoin is a free bitcoin faucet. Just sign in with your bitcoin wallet, solve a captcha and get bitcoins. Refer others to easybitcoin and receive 25% referral commission.