Blockchain technology in bitcoin or its mining

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blockchain technology

What is bitcoin

Bitcoin is the first cryptocurrency. which is invented in 2008. Nobody knows about his inventer. Nowadays this is very popular cryptocurrency but many more cryptocurrencies are now in the market. people start buying cryptocurrencies for future investment.

bitcoin

Bitcoin work on blockchain technology

The blockchain is a technology that has been programmed to record financial transactions. This is a digital system. There is an underlying strength of an Internet technology. Which can store blocks of identical information on their network.

Blockchain has the ability to distribute digital information (i.e., it works like a distributed network). Not all records in the database are stored in a computer, but distributed in 1000 computers or millions of computers. Each computer in the blockchain can describe the entire history of each record. This database is encrypted and entered in a confidential manner.

blockchain technology

The blockchain is also a fault tolerant means that if a computer gets damaged and whole data is deleted from it. then this system keeps working. If any new agreement or record has to be recorded in it, then it requires the approval of many partners (computers).

It is very difficult to hack because hackers will have to hack thousands of computers simultaneously at the same time to hack the database. This is why we consider Blockchain as a safe technology. The first use of Blockchain was in 2008. When a digital currency called Bitcoin was invented. Blockchain cannot be used only for bitcoin but can do anything where trust is required for a middleman to guarantee.

If a poor man wants a government salary then the government can send that salary through Blockchain to his mobile.

In the event of a disaster, the houses, crops etc. are destroyed and if the government wants to help them, Blockchain can send the government aid amount directly to their mobile. This will reduce corruption.

Blockchain can also be used in education, students can be given blockchain-made degree instead of a paper degree. This can solve the problem of fraud degree.

What is bitcoin mining

Bitcoin mining process which is a help to solve mathematical problems when process transactions and also recording transactions process. Mining is working when some transaction process from one wallet to another then start the solving mathematical problems for the computer to a done transaction. Mining is not only used for transactions this process is also used to make bitcoins. The mining process is done by the combination of hardware and software. In this process use heavy hardware to done. Because day by day difficulty is increasing and solve that puzzles we use high-quality hardware which is made only for mining.

bitcoin

When you are mining any cryptocurrency your priority first solve the computing mathematical puzzle to get some reward for your work or your computer work.

Cloud-based mining

Cloud-based mining is very easy you just need to buy hash power by the companies who are working in this field. You just pay some amount for hash power and setup your account. Place your bitcoin wallet address on your cloud account for your money. No tension for hardware maintenance no tension for the electricity bill.

Where to Buy cloud mining Hash power  

  • Hashflare

Hashflare provides services who offer a lot of cloud-based mining cryptocurrency. HashCoins was established in 2013 in Tallinn, Estonia. In any case, the organization guarantees that group has been included with digital forms of money since the commencement of bitcoin and has more than 3 years of involvement in this field mining digital currency forms of money. it’s goal to provide mining easy, affordable and accessible for normal users such people who can afford.

Hashflare lowest pricing for cloud script based mining $13.50 for 1 MH/s or SHA-256 Cloud Mining lowest price $ 1.20 for 10 GH/s

  • Genesis mining

Genesis mining is also cloud-based mining like other cloud miners providers. It is more trustable website compare than others many miners prefer this website for mining. The genesis mining provide three types of plans gold 100 GH/s in $19, platinum plane 2000 GH/s in $340 and diamond plane 10000 GH/s in price of $1600 but you can also purchase hash power for limited time period “1-2 years” in low cost most of the hashing power purchased in short time after opening like bitcoin, litecoin etc. if you want to buy hash power for mining you can purchase by using PayPal, credit card, Bitcoin and through wire transfer.

  • Eobot mining

Eobot provides the largest amount of cryptocurrency for mining. Almost all types of cryptocurrency are here for mining. If you signup here you get reward some little hash power is given by it. But you can not use this hash power for bitcoin mining. You can use this power for only Dogecoin mining. To get your money which is produced by cloud mining. you can transfer this amount in your bitcoin wallet by placing wallet address on this website.

  • Hashnest

Hashnest is an official website of bitcoin. Hashnest have no referral reward that’s why nobody tells us. But it is an official or genuine website by bitcoin. This website also provides asics hardware for our consumer who wants to buy and use mining from home but it hardware consumes electric power for mining bitcoin. They provide full setup machine for mining just install and setup your wallet where you want to receive your bitcoin.

  • Cpu based mining

C.P.U based mining use your computer power for mining bitcoin. It consumes the power of CPU and graphics card for mining. This is based on software. You can install and setup bitcoin mining software and after setup is done your computer use your CPU power for mining. But note one thing when you using only CPU processor for mining it not good for it because this is not design for mining but our graphics card is design for high-quality performance to solve the mathematical puzzle to process game but it is good for mining also. One of best benefits of graphics card you can sell it after use but asics hardware which is designed for only mining cryptocurrency it does not sell easily.

  • Mining software
  1. BTC Miner
  2. Bitcoin Miner
  3. CG Miner
  4. Easy miner

How to buy bitcoin

Bitcoin is a very profitable investment you can see the graph how much growth in last few years. It is a digital currency which values continuously increasing. Many businessmen buy this currency for future profit.

bitcoin

Different countries using the different wallet to buy or sell bitcoins name hare.

  • India:- Unocoin, Coinsecure, Zebpay
  • USA:- Coinbase, GoCelery
  • Europe:- Cex.io, Bitstamp, Bitbay
  • China:- BTCC

Zabpay

Zebpay is bitcoin exchange service provider which is a help to buy and sell bitcoin service provider if you want to invest some money for future this is a very good way.

To open the account on zebpay download app and sing through mobile number and add your personal detail for govt policy in current days. Upload pan card picture and fill its details in the box.

After filling bank account details for add money on the zebpay account then the last one is KYC (aadhaar) number or picture and all details provide them. After approval, you can ready to buy or sell bitcoins. you can also see chart last 3 months.

unocoin

sign up on unocoin account first after sign up and verify your documents.

step1. Fill bank account details like account number, address, pincode.

step2. upload pan card picture and pan card number name etc. what they want.

step3. upload KYC picture and details like aadhaar number and address etc.

unocoin employees 24hours available to verify your documents details. if someone who wants to invest in bitcoin daily basis they have available option to buy automatically as you set up the process & time.

unocoin charges fee to buy or sell bitcoin 1% only. if you are upgrading in gold membership then only charges 0.7%. 18% INR IGST fee as govt rule for every transaction. when you send bitcoin on your e-mail id of unocoin users there is no fee when sending bitcoin to bitcoin address.

The main feature of unocoin sell automatically coins fill reach your setup amount.

unicoin also has a mobile app which is a help to buy or sell through mobile.

CoinSecure

coinsecure is another bitcoin buy and sell website. which is provide secure buy sell bitcoin transaction for consumers. This is perfect for those who want to buy bitcoin at cheapest price as possible.

For signup process do all verification like KYC, pan card, bank account details provide them.

coinsecure good for whose people they have experience in this field. in the dashboard lots of offer present in it.

they have recently launched the Android app for easily buy or sell by just using the mobile phone.

Purse

this is totally different from these websites. Here you can trade your Amazon gift card exchange in bitcoin. once you get bitcoin you can transfer to your bitcoin wallet.

LocalBitcoins

local bitcoin is a place where people sell our bitcoins. local bitcoin also popular who are buy to using PayPal wallet. they have two level of security. if do you want to sell bitcoin at a higher price then this is the best place for sellers.

How to convert bitcoin into cash

bitcoin wallet

People always ask how to withdraw my mining amount. It is not difficult just setup your wallet address on your mining website where you can purchase hash power. You can signup on bitcoin wallet and you will receive your wallet address in your wallet where you produced. then place it on website wallet where you want to receive your amount.

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