Bitcoin is one of the most popular terms to be heard these days. Though most peoplealready know about it, but many are still aware as to what it exactly is. So, the Bitcoin is a kind of a crypto currency. Basically, it is a digital currency which is produced as well as transacted online. It’s much like a credit card for makingtransactions. But the best thing about it is that in this, the identity of the sender andreceiver is encrypted. Hence, the transaction remains anonymous always. Now thatyou know what Bitcoin is, the next question which comes to people’s mind is how toearn Bitcoins in India? So let us just answer this question as well. Have a read at the following.
Now before we find out the answer about how to earn Bitcoins in India, we mustfirst know about what Bitcoins actually are.
Bitcoin is a digital currency emerged in 2009. It follows the ideas set out in a whitepaper by the mysterious Satoshi Nakamoto. It offers one the promise of lowertransaction fees which is generally beared in other traditional online paymentmechanisms and is operated by a decentralized authority.
Bitcoin is also called crypto-currency. It is not backed by any country’s central bankor government. Bitcoins can be exchanged for some goods and services in return ifthe other party is accepting payment in Bitcoins. It is widely accepted as ‘legal tender’ that is the foremost reason why it is gaining popularity nowadays. Oureconomy is moving to cashless society and Bitcoins act as an add-on step to it. It is a‘virtual money’ that means in reality no such money exists. It is just saved an indigital numbers in cloud. Other digital money is known as ‘Altcoins’. Launch of Bitcoins has triggered the growth of Altcoins at a high rate.
Often when transaction is carried out using some digital medium, its safety is themajor concern. It is important to be protected from unauthorized access of hackers.Balances are kept secure using ‘public and private key’. They are long strings of numbers and letters. It makes use of mathematical encryption algorithm thatprovides it safety against any kind of unauthorized access without the permission ofrightful owner. The public key is openly known to public and the private key is alsoknown as a ‘private key’ which is only known to the vendor.
Hence, it provides end toend encryption. Now we come to fact how to earn Bitcoins in India.
For trading purpose, Bitcoins are easily available in India. We can buy or sell anyamount of Bitcoins from India. Several Exchanges / Exchange cum BitcoinWallets areavailable which allow transactions using Bitcoins after proper verification of identity.
Earning free Bitcoins
Several sites allow the user to earn free Bitcoins- some by viewing ads, some byanswering captcha challenges, and some by doing crowd-sourced work. All this helpsto add Bitcoins to our wallet.
To earn Bitcoins, it is necessary to have a Bitcoin wallet first. Creation of CoinbaseAccount is a first step towards it.Creating a Coinbase account allows the user to receive and store Bitcoin during transactions safely. It even helps to send and transfer Bitcoin whenever required. Itcan be even used to buy and sell Bitcoins for US dollars.
Bitcoins can be bought using Credit Cards or Debit Cards.Download Zebpay app to buy Bitcoins.This app accepts Indian Rupee and will easilyhelp you to add Bitcoins to your wallet. Unicoin is another Indian website thataccepts Indian Rupee to provide Bitcoins. Local Bitcoins allows you buy Bitcoinsthrough private transactions
Several games provide rewards in form of Bitcoins. On qualifying a level of game,some Bitcoins are added up to your Bitcoin wallet. Watching some videos or filling upsurveys even addsBitcoins to your wallet.
The Last Words
In India,Bitcoins is gaining high popularity. The people can even sell Bitcoins to earn realmoney. It is one step close to Digital India. It helps to pay over online transaction. Ithelps to smoothen digital transaction process and gained more popularity during demonetization. It is an easy move towards cashless society.