What is Bitcoin:
Bitcoin is a digital currency. Bitcoin came to life in January 2009. The
creation and transfer of Bitcoin is based on a cryptographic protocol,
and all Bitcoin transactions are recorded in a public ledger called the
blockchain. Bitcoins are transferred through a peer to peer network
and you can store your Bitcoins in a digital wallet that could be online
or on your own computer, tablet or cell phone. Mining is the process
by which new Bitcoins are created through mathematic operations.
The number of Bitcoin is limited to 21 million, and each Bitcoin has 8
decimals which means that in total there are 2.1 × 1015 or 2.1
quadrillion currency units. Until today about 14 million Bitcoins have
Another definition taken from Wikipedia will give you more
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“Bitcoin is the currency of the Internet: a distributed, worldwide,
decentralized digital money. Unlike traditional currencies such as
dollars, bitcoins are issued and managed without any central
authority whatsoever: there is no government, company, or bank in
charge of Bitcoin. As such, it is more resistant to wild inflation and
corrupt banks. With Bitcoin, you can be your own bank.”
What is a Bitcoin wallet.
Bitcoin wallet is the place where you store your Bitcoins.Be careful
with your wallet – it’s where your money is.You can either have a
Bitcoin wallet installed locally on your computer or smartphone –
choose one of these.You can also use an online wallet such as the one
from Blockchain.info. Create a bitcoin address from wallet providers
and use the wallet as a bank to buy,sell,store,earn bitcoins as
mentioned in this e-book.
How to earn Bitcoin:
One can earn Bitcoin same way you earn any other currency, by
exchanging your labor, goods, or services for it.
Analyze and figure out what you can offer of value to people and then
do that, but offer a discount if they pay in Bitcoin. Or you can simply
buy Bitcoin outright using the currency you’ve already earned.