What is Bitcoin?

[devcracker]

I'm totally new to this platform and I have some questions regarding bitcoin. Can anybody answer my questions so that i can understand better about bitcoin and things related to it?

1) What is bitcoin crypto currency?
2) What is meant by bitcoin mining? Is it important to mine bitcoin?
3) How trading works using bitcoin?

[LoyceV]

I'm totally new to this platform and I have some questions regarding bitcoin. Can anybody answer my questions so that i can understand better about bitcoin and things related to it?

1) What is bitcoin crypto currency?
2) What is meant by bitcoin mining? Is it important to mine bitcoin?
3) How trading works using bitcoin?

1. See https://bitcoin.org/en/, it has a nice video that explains the basics about Bitcoin.
2. See the same link.
3. Your question is too generic, trading in general: buy low, sell high.

What made you decide to create an account on a site about Bitcoin if you don't know what Bitcoin is? May I suggest you read a bit first, then ask more accurate questions about the things that are not clear?

[papahmauriel]

read and learn in this forum and you will know what is bitcoin

[TheAndy500]

I'm totally new to this platform and I have some questions regarding bitcoin. Can anybody answer my questions so that i can understand better about bitcoin and things related to it?

1) What is bitcoin crypto currency?
2) What is meant by bitcoin mining? Is it important to mine bitcoin?
3) How trading works using bitcoin?

1) Cryptocurrency, bitcoin is something like a real coin but his place is not in our pocket but in wallet based on internet.
2) Mine bitcoin is to get something by mining programe based on your computer, it will be mine until 2040.
3) You buy bitcoin and trade it in cash or other coin with a profit.

[deadthings]

https://cryptodaily.co.uk/the-history-of-bitcoin/ You could read about it here, there is some basic and proffesional info about bitcoin.

[aardvark15]

I'm totally new to this platform and I have some questions regarding bitcoin. Can anybody answer my questions so that i can understand better about bitcoin and things related to it?

1) What is bitcoin crypto currency?
2) What is meant by bitcoin mining? Is it important to mine bitcoin?
3) How trading works using bitcoin?

1) Bitcoin is one of many cryptocurrencies. A cryptocurrency generally is a digital currency that is decentralized and is on a platform called a blockchain or something similar which is often referred to as an open ledger. The value of cryptocurrencies is based on supply and demand and is subject to the free markets.

2) Making transactions, confirming transactions, and logging transactions take work in the form of computations done by individual computers. This work is called mining. Miners are rewarded for their work and electricity by being paid in newly created Bitcoins.

3) Trading Bitcoins or other cryptocurrencies is like trading on the stock market. Generally the trading is done on exchanges that require fees for the trades similar to stock market trades.

[devcracker]

Thank you all for your great replies. I'll research about that.

I have one more question that can I create wallet for bitcoin using this platform other then using other apps?

[TianaStam]

Thank you all for your great replies. I'll research about that.

I have one more question that can I create wallet for bitcoin using this platform other then using other apps?

Which platform? Sorry, I am also new here and I just didn't understand what do you mean.
You can create your account on an exchanger and move your earnings directly there, but people say it is not safe. Or you can create a wallet online or hardware or paper one, there are many types. I created mine on Blockchain.info site.

[setifien19]

1) Bitcoin (as you said) is an incrypted currency " which has no physical existence " or simply you can refer to it as "virtual currency"
2) Mining is the process through which bitcoin is being produced, it stands generally on mathematical algorithms , and what you need to know is that there is machines doing this mining (but consume lot of electricity)
3) As mentioned above , bitcoin is a currency ( just like usd, euro...) so in trading bitcoin is traited as an exchangeable currency .
Hope this makes it clear for you