Bitcoin for Beginners (Common Questions)

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

What is Bitcoin?

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

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 about which transaction came first. To achieve this, miners solve a complex problem using hardware, which we call 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 Nomics, CoinMarketCap.

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: 

  • Samourai Wallet
  • Wasabi Wallet

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

What is Bitcoin Stock?

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

How to check the Bitcoin price chart?

You check the chart on multiple cryptocurrency websites like Nomics, CoinMarketCap. There is various specialized chart software. Ex- Gochart, Exochart 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?

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

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) help you to meet local people who are selling or buying Bitcoins. (Aware and careful of scams in this case).

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