Friday, 30 June 2017

How you get the bitcoin?

Yes, we all know so far you can buy bitcoin from any bitcoin exchange in India and it's yours. But here we going to write about how they come in market? So that you can own them.

The decentralized and competitive process of generation bitcoin is called as mining. In this process of mining, the individuals who are known as miners are getting reward by the network to mine the blocks and generate bitcoin. The miners use specialized hardware to get the new bitcoins.

The rate for the bitcoin is fixed due to the bitcoin protocol which is designed in a way that nobody can interrupt in it or change the bitcoin price. This also raises the difficulty bar of bitcoin mining. The more miners joining means the less chance to get profit and it is necessary to keep the operational cost as low as you can.

Being a decentralized currency it is not governed by any authority so no one change makes changes to bitcoin network or manipulate its system as all the unwanted changes are rejected by the system. The bitcoin is created in a deacreasing way and predictable rates.

If you look for the best bitcoin rate you need to mine the cryptocurrency. The other option is to buy and sell bitcoin in India by going to the bitcoin exchange in India.

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