Btc king of crypto world

Abstract

Bitcoin is a cryptocurrency.Launched in 2009, Bitcoin is the world's largest cryptocurrency by market cap.

It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

What is Bitcoin?

Bitcoin is a digital currency created in January 2009 following the housing market crash. It follows the ideas set out in a whitepaper by the mysterious and pseudonymous Satoshi Nakamoto.


The identity of the person or persons who created the technology is still a mystery. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies.

There are no physical bitcoins, only balances kept on a public ledger than everyone has transparent access to, that – along with all Bitcoin transactions – is verified by a massive amount of computing power.

Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite it not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of hundreds of other virtual currencies collectively referred to as Altcoins.

Understanding Bitcoin

Bitcoin is a collection of computers, or nodes, that all run Bitcoin's code and store its blockchain. A blockchain can be thought of as a collection of blocks. In each block is a collection of transactions.

 Because all these computers running the blockchain have the same list of blocks and transactions and can transparently see these new blocks being filled with new Bitcoin transactions, no one can cheat the system.


 Anyone, whether they run a Bitcoin "node" or not, can see these transactions occurring live. In order to achieve a nefarious act, a bad actor would need to operate 51% of the computing power that makes up Bitcoin.

Bitcoin currently has over 10,000 nodes and this number is growing, making such an attack quite unlikely.

How to get bitcoin

There are two ways you can get bitcoins:

1.Quickly purchase a substantial amount of bitcoins on the internet or in person.


2.Slowly earn a substantial amount of bitcoins for free through bitcoin faucets, like playing mobile or online games, completing tasks on websites, or writing about cryptocurrency.

How to Get Bitcoins Fast

1. Buy Bitcoins Online
To buy or earn free bitcoins, you first need to download a bitcoin wallet, which is software that allows you to securely send, receive, and store funds in the bitcoin network. There are four types of bitcoin wallets that you can use: mobile, web, desktop, and hardware.after i wanna more talk about wallet.


2.Buy Bitcoins in Person
If you’d rather buy bitcoins in person, you have four options to choose from:

1.Use websites like Coin ATM Radar to help you find a Bitcoin ATM, which works very similarly to a regular ATM, except you trade your cash for bitcoin.

2.Use websites like LibertyX to find retail stores across the United States that will give you bitcoin in exchange for cash.


3.Use websites like Paxful to find bank branches that will give you bitcoin in exchange for cash deposits.

4.Use websites like LocalBitcoins to find people who are willing to exchange Bitcoin for cash, in person.

How to Get Bitcoins for Free


1. Play Mobile or Online Games to Earn Bitcoins
One of the most entertaining and fun ways to earn free bitcoins is by playing mobile or online games. That’s right -- you can play games on your phone or computer and actually get paid in bitcoin.

But if these bitcoin faucets want to make money and pay their players, they have to serve a lot of advertisements to their users.


To avoid the ads, you can join a bitcoin casino, where you bet your own money or bitcoin on traditional casino games, sports matches, and lotteries to potentially win a higher payout in bitcoin.

Here’s a list of some of the most enjoyable bitcoin games that you can play on your phone.

2.Do Odd Jobs Online to Earn Bitcoins
Another way to earn free bitcoins is by completing tasks on websites. Some companies will pay you in Bitcoin to test their web sites, take their surveys, retweet their posts, and complete other small tasks.

There are also websites that let people offer small bitcoin rewards to the person who can give them the best answer to one of their questions.


You can find odd-jobs that pay you in Bitcoin on BitcoinGet , and you can answer questions for Bitcoin on Bitfortip and adbtc

3.Read Classic Books to Earn Bitcoins
Paying people to play simple games and complete repetitive jobs sounds like a great way attract a lot of users and, in turn, tons of advertisers.

But there are hundreds of bitcoin faucets competing for users and advertisers’ attention, making it hard to stand out from the crowd.

Users also don’t rely on faucets as a main source of income, so, a lot of the times, a small bitcoin reward isn’t enough to coax them into doing boring tasks during their free time.

To generate more user activity and advertising revenue, bitcoin faucets, like Bitcoin Aliens, knew they needed to find a better way to engage their users. So they decided to pay people to read.

 Their service, PaidBooks, compensates people in Bitcoin to read classic books like Pride & Prejudice, War of the Worlds, and over 600 other titles on their website. If you love a good book and want to earn free Bitcoin, consider trying it out.

What is a Bitcoin wallet?

The wallet safeguards the secret code you need to use your bitcoins and helps manage transactions, something like an internet banking account. The code, which serves as a password, is called a “private key” and is vital to the security of your money.


Anyone who gets your private key can steal your bitcoins. And if you lose your key, your bitcoins are gone, too. So it’s essential to protect private keys against accidental loss and back them up.

Bitcoin wallet types

All bitcoin wallets are classified into two categories - hot and cold wallets.

Online (“hot”) wallets, where the private key is stored online or on devices connected to the internet – e.g., on exchanges or other websites, computers, tablets, or smartphones.

Offline (“cold”) wallets, where the private key is stored on paper or offline hardware like a password-protected USB, or simply in one’s brain (when you memorize a special phrase to access your funds).

Online, or “hot,” wallets are less secure due to the threat of hacking. Website wallets are especially vulnerable as you must reveal your private key to a third party. But hot wallets are more convenient for daily use.



It’s thus recommended to use both types of wallets – hot wallets to hold small amounts of bitcoin for daily transactions, and cold, or offline, wallets for storing more substantial sums. In any case, you can have as many wallet addresses as you like.

Furthermore, both hot and cold Bitcoin wallets are classified into hardware, desktop, mobile, web, and paper wallets.

Hardware wallets. Bitcoin wallets that store your private keys on external devices, such as encrypted USB sticks or similar. The most popular brands are hardware wallets by Trezor and Ledger.

Paper wallets. The term generally refers to a physical copy or paper print of your public and private keys.
Desktop wallets. Desktop wallets are software installed on computers or laptops. Their security depends on the security of your computer.


Mobile wallets. Mobile wallets, like desktop ones, are software wallets, but usually, they are substantially smaller and simpler.

Web wallets. Web wallets include browser plugins, website wallets, exchange wallets, and other sorts of “hot” wallets.

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