Bitcoin is a cryptocurrency that is mined by solving mathematical problems. Each time a problem is solved, the miner is rewarded with bitcoin. There is a limited total number of bitcoin that can ever be mined. To use bitcoin, a user first obtains bitcoin then sets up a digital wallet to store and send their bitcoin. Transactions are recorded on a decentralized digital ledger that is maintained by the bitcoin network.

1. Bitcoin
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2. What is Bitcoin?
 It is a crypto-currency.
 Some other crypto-currencies are litecoin,
peercoin, namecoin, etc.
 They are no different than the currency in your
wallet !
 But you cannot print a crypto-currency. You
have to mine it!
 Mining means solving mathematical problems.

3. What is Bitcoin?
 Every time a solution is found, a reward is given
in the form of a bitcoin.
 Problem difficulty and reward amount varies
with the network.
 Minable bitcoins halve every 4 year.
 Only 21 million bitcoins can be mined, of which
12 million have been mined.

4. Features of Bitcoin?
 Unlike normal currencies, it can be divided up to
8 decimal place. That is, 0.00000001 bitcoin is
the least division possible.
 Stored in virtual wallets which can send and
receive bitcoins.
 Wallets can store details of every single
transactions.
 All transactions are stored and verified by all
members of the network.

5. Bitcoin Explained
 Bitcoin is a digital ledger that contains names
and balances.
 Money can be exchanged by changing the file.
 On transaction, the balance in the participant's
account increase or decrease.
 There is no gold or money backing these
numbers.
 It works on the faith that other people will also
trust the system.

6. Bitcoin Explained
 Who maintains the ledger?
 One goal of bitcoin is to avoid centralized control.
So every participant maintains their own copy of
ledger.
 To send money, request every one with account
number, amount and receiver’s account number.
 Bitcoin requires a digital signature based on MATH
to prove you own the account.
 A new account comes with a private key linked to
it.
 Bitcoin wallets hold the keys and creates
signatures, unique for each transaction.

7. How to Use Bitcoin?
 STEP-1: Get some bitcoins with any of these
methods:
 Buy Bitcoin online from traders like Coinbase and
Xapo or via bitcoin exchanges
 Buy bitcoin from a live person offline. Find them
through https://localbitcoins.com/
 Earn bitcoin
 Mine bitcoin

8. How to Use Bitcoin?
 STEP-2: Set up your first Bitcoin wallet.
 A “wallet” is basically the Bitcoin equivalent of a
bank account.
 A software wallet is one that you install on your
own computer or mobile device.
 A web wallet or hosted wallet is one that is hosted
by a third party.

9. How to Use Bitcoin?
 STEP-2: Set up your first Bitcoin wallet.
 Mobile Wallets
 Web wallets
 Hardware wallets
 Paper wallets
 Advanced wallets
Interface of CoinBase ------->

10. How to Use Bitcoin?
 STEP-3: Create a public Bitcoin address
 Use the wallet you created in the previous step to
create a public address for you.
 A public bitcoin address will be a long string of
seemingly random letters and digits.
 Eg: 16BPS8xb5k36MeNLWmfZ1zpjCqbDhgyaHg.

11. How to Use Bitcoin?
 STEP-4: Send bitcoin to the public address you
created above using the "withdraw" or "send"
function in the place you bought your bitcoin
 You may need to wait 10-20 minutes for a
confirmation
 If you did everything correctly you should now see
the small amount of bitcoin you sent in your
personal wallet. Congratulations!

12. How to Use Bitcoin?
 STEP-5: Use your bitcoin to
 Invest
 Shop
 Donate or give away