Bitcoin for Beginners (Common Questions)

In this article, we will answer some common question Bitcoin beginners.

What is Bitcoin?

Bitcoin is a digital currency governed by a decentralized peer to peer network. 

Read: What is Bitcoin and how it works?

Who is the creator of Bitcoin?

Satoshi Nakamoto (pseudonym) in 2009.

What is Bitcoin white paper?

The white paper is the blueprint of the protocol that tells us how Bitcoin will work in detail. 

What is Bitcoin Mining?

Bitcoin does not have a central authority. So mining helps in validating the transactions and reaching a network consensus that which transaction came first. To achieve this, miners solve a complex problem using hardware, which we call Bitcoin mining.

Read: What is Bitcoin mining?

How many Bitcoins are there?

There will be a total of 21 million Bitcoins.

What is the Bitcoin price today?

There are hundreds of websites where you can check Bitcoin’s live price. Such as NomicsCoinMarketCap.

What is Bitcoin explorer? 

The explorer helps us to check transactions, blocks, and other Bitcoin blockchain-related data. 

What is a Bitcoin Wallet?

Wallets help you to create an account (On blockchain), which holds your Bitcoins for you. You can also send and receive coins using your wallet. Here are some best Bitcoin wallets: 

You can find an extensive list of Crypto wallets on CoinCodecap.

What is Bitcoin Stock?

Bitcoin is not a stock. Bitcoin a currency which you trade on cryptocurrency exchanges. 

How to check the Bitcoin price chart?

You check the chart on multiple cryptocurrency websites like NomicsCoinMarketCap. There is various specialized chart software. Ex- GochartExochart in which you can see Bitcoin price history and current market cap. 

How to convert Bitcoin in USD?

You need to use USA based cryptocurrency exchange to convert your Bitcoin in USD. 

How to find nearby Bitcoin ATM?

You can find a Bitcoin ATM using websites like BitcoinAtmMap. Here is a complete guide on how to “find a Bitcoin ATM“.

What you can buy with Bitcoin?

Bitpay has a curated list of websites and products you can buy with Bitcoin. 

What is Bitcoin Reddit?

Bitcoin Reddit is an online community for Bitcoin enthusiasts hosted on Reddit.

Is BTC mining profitable?

Yes, it is when it’s done professionally with professional mining equipment.

How to buy bitcoin for cash?

Websites like LocalBitcoin (P2P exchanges) helps you to meet local people who are selling or buying Bitcoins. (Aware careful of scams in this cases).

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