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What Is Bitcoin And How To Get It In Easy Ways

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Here you can discover what is bitcoin, how to get btc for free. Also where to buy bitcoins, how to generate passive income and more

 What Is Bitcoin And How To Get It

What Is Bitcoin?

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Nakamoto introduced the idea on 31 October 2008 to a cryptography mailing list and released it as open-source software in 2009. There have been several high profile claims to the identity of Satoshi Nakamoto. However, none of them have provided proof beyond doubt that back up their claims. 

The system is peer-to-peer. So transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain, which uses bitcoin as its unit of account. Since the system works without a central repository or single administrator, the U.S. Treasury categorizes BTC as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed and it is more correctly described as the first decentralized digital currency. BTC is the largest of its kind in terms of total 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 a public ledger. This activity is called mining. Miners are rewarded with transaction fees and newly created bitcoins. Besides being obtained by mining, BTC can be exchanged for other currencies, products, and services. When sending BTC, users can pay an optional transaction fee to the miners.

How To Get Bitcoin?

You can get BTC for free from Bitcoin PTC Sites by viewing websites, from Faucets by solving captchas, by playing  Games, from Ad Networks for displaying ads on your website. You can Buy Bitcoins online with PayPal, with Debit Card, or with Bank Account. Also, you can get passive income by participating in Affiliate Programs or by installing free Mining Browser.

Denominations

SAT         Satoshi               0.00000001 BTC
µBTC      Microbitcoin     0.000001 BTC
mBTC     Millibitcoin       0.001 BTC
cBTC      Centibitcoin       0.01 BTC
dBTC      Decibitcoin        0.1 BTC
BTC        Bitcoin                1 BTC
daBTC    Decabitcoin       10 BTC
hBTC      Hectobitcoin     100 BTC
kBTC      Kilobitcoin         1000 BTC
MBTC     Megabitcoin      1000000 BTC

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