S4B Crypto Contest - Season 01

Greetings friends hope you are all doing great I'm here again yo participate in this interesting contest that was organized by @waqarahmadshah you have done well for publishing this contest.

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What's Bitcoin and how is it different from regular money?

Bitcoin can be defined as a digital currency that operates on a decentralized network called blockchain and according to my research it was created in the year 2009 by unknown person.

And bitcoin is really different from regular money because bitcoin is decentralized which means that it's is not controlled by any central authority like a government or even central bank and this gives users more control over their own money and transaction.

And also transactions made with Bitcoin are pseudonymous which means that they are not directly tied to the identity of the users so regular money transactions are usually more traceable.

Bitcoin transaction her secured by cryptography and recorded on the public leger called the blockchain making tense secure and transparent which is small good than regular money transaction.

What's blockchain how does it relate to Bitcoin?

Blockchain is a decentralized distributed ledger technology that records transactions across a network of computers so each groups of transaction is stored in the block.

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So here is how blockchain and bitcoin relates.

Boat blockchain and bitcoin operates in a decentralized manner which means that the is no central authority controlling the network and in the case of Bitcoin the blockchain serve as a public ledger that records or transaction make you the cryptocurrency.

And also bitcoin uses a consensus mechanism called proof of work that's p o w to validate transaction and add new blocks to the blockchain I need another way bitcoin primarily serves as a digital currency, blockchain technology can also support smart contracts self is a good thing contract with the pence of agreement directly written into code.

How can you buy Bitcoin and how do you keep it safe?

They are several ways to get Bitcoin you can buy Bitcoin from cryptocurrency exchange social has binance, bybit, coinbase and meaning of them can you can also buy bitcoin from individuals through pay to pay platform like local bitcoins or paxful.

And to keep your bitcoin safe the only thing you have to do is to use a secure wallet to store your Bitcoin like Exodus wallet or Trezor and also backup your wallet private keys.

Thanks for reading my post I'm inviting @josepha @m-fdo and @morgan76 to participate in this contest.