Do you want to know some Basics About Bitcoin? Read below!


Bitcoin is the first-ever cryptocurrency that made the revolution. People who are really fond of making money have started investing in bitcoin. Most of them have also started learning the basics of bitcoin trading with which they can earn good money. 

When bitcoin was just launched, its value was in just dollars. Initially, because of less digitalization and a whole new concept of bitcoin it was very less prevalent in the market. Later on, with time, the investors increased along with other cryptocurrencies, and the price increased. Even this was considered much better than the share market.

Bitcoin blockchain

All the transactions done in the bitcoins for recreating the this trading platform are stored in the form of blockchains. The blockchain has lots of benefits of using it. The transactions done are stored in the blocks, and when the block gets filled up, the transactions done are getting filled up in the next block. 

The next block is filled up by carrying the last transaction. The last transaction is carried in the next block so that the blocks do not get mixed up and there remains a link between the blocks. This linkage in the blocks leads to the formation of the chain, which is further known as the blockchain.

Bitcoin mining

Bitcoin mining is a very important process of the bitcoin blockchain, and the bitcoin as all the transactions stored in the blockchain need to be verified and processed with the help of the bitcoin mining process. This process includes the verification of the transactions by solving mathematical problems. After the problem is solved, the transactions are verified, and the money is transferred to the other user. 

This is the bitcoin system in which the transactions made on this platform need to be solved by the miner. A miner is a person who is not associated with a particular group or the tram of bitcoin mining. But he is a random unemployed person, and he wants to get employed by using this platform. So he uses his computational skills and computational power; this is the only thing that a bitcoin miner requires to work. 

The miner is rewarded with the cryptocurrency of which he had solved the transaction. The reward amount initially when bitcoin was launched was about 50 BTC, but now, after time, it has been decreased to 3.125 BTC. This has been reduced because this is the bitcoin policy that the reward amount is being reduced to half after a certain period. Now it has been a long time for the cryptocurrency to be launched, so because of this reason, the reward amount has been reduced.

Mining pool

This is a term used when there is a transaction given to more than one user to be solved. This is the same as that of the carpool. However, when the transactions get solved by all three users, the reward amount is equally distributed among them. This is just similar to the carpool, in that too, the expenses of the user are equally distributed among the persons who are pooling the vehicle.


There are many advantages of using the cryptocurrency platform. The prices of the bitcoin platform are very volatile, and it can be used to earn profits in a very short period as the prices of the bitcoin fall and rise very consistently. Because of this reason people earn huge profits.

Another reason is that all the Bitcoin transactions are completely private and secured and cannot be tracked by anyone in any way; this is also one of the biggest advantages of using bitcoin because privacy is one of the most required factors by the users in today’s time.


In the end, we can conclude that cryptocurrency is one of the most advantageous places where a user can earn profits very easily. This is because he can keep all the transactions private so that no one can locate his transactions. In the near future, we can witness a real boom in the trading world with all these cryptocurrencies. They are really going to rule the world. 

About Carson Derrow

My name is Carson Derrow I'm an entrepreneur, professional blogger, and marketer from Arkansas. I've been writing for startups and small businesses since 2012. I share the latest business news, tools, resources, and marketing tips to help startups and small businesses to grow their business.