Bitcoin is a decentralized electronic currency conceived in 2009 by Satoshi Nakamoto. The name also applies to the protocol designed by the same author as the P2P network that supports it. Unlike most currencies, Bitcoin confidence does not depend on any central transmitter but uses a working test system to prevent double spending and reach consensus among all nodes.
Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
If you are an absolute beginner, here are the steps to get started with earning FREE Bitcoins and transferring it back to your Bank Account.
- Create a Bitcoin wallet – You can do so by signing up at CoinBase
- Once you have created an account, all you need is the Bitcoin Wallet Address to start receiving funds. The address is visible by navigating to Accounts -> Click on the Receive Icon under BTC Wallet
- It will be a long Alphanumeric Number like this example -1AtB9GgXZTmMUxvuXT8sr6RseNpmAPH
- Now you can use your Bitcoin address on all the Bitcoin Faucets as given on our website
- Once you receive the FREE Bitcoins in your wallet at CoinBase. You can withdraw them to your bank account by transferring them to a service which supports your Country.
- For e.g if you are in India, you can use ZebPay
- ZebPay is one of the best Bitcoin Buy/Sell and Withdrawal service in India.