Currently, cryptocurrency is one of the most trending topics online. Many people are making millions with cryptocurrency, while others are losing everything. From today’s article you will get a clear idea about cryptocurrency and know about the secrets of cryptocurrency world. Can you finally decide whether you should enter the crypto world or not? What is Crypto Currency – What is Bitcoin? Income from Crypto Currency or Bitcoin
What is crypto currency?
Simply put, cryptocurrency is digital currency. And crypto is always transacted through the blockchain. That is, the database of cryptocurrency is blockchain. And the most important thing is that this digital money is not controlled by the government or state of any country. However, cryptocurrency is now legal in 111 countries around the world. Cryptocurrency is not fully legalized in Bangladesh as of now, but it may become legalized in Bangladesh very soon. But many people now buy and sell cryptocurrencies through P2P in Bangladesh. This will be discussed in more detail below.
History of Cryptocurrencies
Many of us think of cryptocurrency as Bitcoin only, but there are many cryptocurrencies before and after Bitcoin. Bitcoin was originally introduced as the first cryptocurrency in 2009. But long before that in 1998 (Wei Dai) introduced B-Money as a distributed cash system. A few years later, a computer scientist and cryptographer named Nick Szabo introduced Bit-Gold, which was an electronic cash system.
After some time another computer scientist (Hal Finney) joined. But in 2009, a computer developer named Satashi Nakamoto (pseudonym) introduced Bitcoin to the public as the first decentralized cryptocurrency. Currently, apart from Bitcoin, there are more than 20,000 other cryptocurrencies in the market. Below are the names of some popular cryptocurrencies:
Binance USD (BUSD)
XRP (XRP) (X,R,P)
How to earn from cryptocurrency?
There are basically two ways to earn from cryptocurrency. (1) By mining (2) By buying and selling crypto. The first one is a bit more difficult to do in our country because we need reliable internet and reliable electricity. Mining requires a computer to be running all day.
As mentioned earlier, cryptocurrency is transacted within the blockchain, so it requires many computers. There are many websites that offer partnership programs for mining. But for that you need a good quality GPU and a computer.
How much is 1 Bitcoin? Bitcoin price in Bangladesh
That is, your computer should have more graphics card. If you can fill up all these requirements, you can earn from crypto only through mining. And you don’t have to pay any kind of fee to take Hey Partner Program. Below are the names of some websites:
Buy and sell crypto
The most popular way to earn from crypto is buying and selling crypto. Basically everyone does this. We often hear about success in crypto from the news. Many become owners of millions within a few days. And the story behind this is that they each invested in crypto. Now how can we invest in crypto? There are many websites and software for this and they also have mobile applications. That means you can use any device. Although crypto is not yet legalized in Bangladesh, you can still trade from Bangladesh via P2P.
Since crypto is not legal in our Bangladesh, we cannot deposit or withdraw dollars on those websites and software. That’s why in those websites and software you will find an option called P2P from where you can buy or sell dollars through development (but in this case the dollar price is higher than the current market price). Then when the dollar is bought, you can easily buy and sell crypto with that dollar. . You can start working by investing just $10.
Below are the names of some popular crypto trading websites and software that you can use on any device, mobile phone or computer.
How much halal cryptocurrency is judged in Islamic principles?
Cryptocurrency is considered halal by many Islamic scholars while many Islamic scholars also consider it haram. I will try to give you a clear idea that if you understand it you can judge yourself how much it is halal or haram. Islam does not accept any currency other than gold and silver coins.
In this case, we cannot consider money or any other currency to be completely halal. But some assets have to be deposited against money or any other currency it may be gold or silver or dollar. But gold is always used as a dollar asset. In this case, we cannot directly say that such currencies are haram. Assets are a game of economics and will be discussed later. Today we discussed this topic only to get a proper idea about crypto.
But here crypto is completely different. Crypto coins have no assets against them. Although it is said that Bitcoin is used as an asset in crypto. But Bitcoin is a digital currency and it is not controlled by any country’s government. So there is doubt as to whether there is any asset against Bitcoin. That’s it for now let me discuss the amount of risk in crypto.
No coin in crypto is stable. So the amount of risk in it is excessive. This is how the price of Bitcoin went up to $70,000 in the last one year and then dropped to $20,000. That is, many people have earned millions of rupees from a bitcoin, while others have lost everything.
Moreover, all cryptocurrencies are more or less like this, suddenly the price goes up a lot and then suddenly goes down a lot. They are not like money or dollars, not at all. The prices of cryptocurrencies are not stable. So if you dig a little deeper, you’ll see that they’re pretty much like gambling. You have to trade these currencies with a lot of risk.
Now, many Islamic scholars call it halal because it is a currency, but the reason for the difference of opinion here is that its form is not like a currency at all. There is no way to keep the money stored here except by buying and selling cryptocurrencies. However, many crypto experts say that in the future, cryptos will become a stable currency that can be used like normal currencies. Now you can surely judge on your own how much crypto is halal or haram from Islamic point of view.
Hopefully through today’s article you have come to know what is crypto currency or what is Bitcoin? Moreover, how to earn through crypto currency. If you like the post, share it with your friends and let them know.