Friday, August 30, 2019
18 Most Lucrative Business In Nigeria Today
1. Agriculture
This is the next revolutionary industry in Nigeria where millionaires are currently being made. Nigerians both home and oversea are beginning to wake up to the huge potentials in Agribusiness, a sector we have been neglecting over the years due to the discovery of oil. Now that the oil is drying up, people are beginning to look into other sectors of the economy to create wealth. Below are some of the farming in Nigeria that are serious making profit for people now:-
Poultry Farming
This business is making average Nigerians rich. It is so lucrative that even outsiders are coming in to invest in poultry farming the business in Nigeria. And why not, In a country of more than 150 million people, what would you expect? If you start with 1,000 birds and manage your poultry farm properly, when the turnover on investment begins to come, you will be making millions annually.
Cassava Production
People are beginning to turn their attention to this aspect of farming in Nigeria that have been neglected for years. Cassava derived foods are some of the most consumed in Nigeria. If you can invest in cultivating 50 – 100 Acre in a fertile area like Ondo State, your harvest will be great.
Snail Rearing
Snail farming is one of the choice Animal farming for many reasons. It is a low capital investment with high yield and the market is big. There are few people currently doing this – and most of them are doing it in a very low scale. If someone invest heavily in Snail farming, he is sure to make good money in Millions within a year.
Make $100 in one day from these apps
1. iPoll
Android and iOS users can earn gift cards, airline miles, magazine subscriptions and more for completing 15- to 20-minute surveys. After downloading the app, you'll tell the app a little about yourself to help iPoll match you to future surveys. Complete as few or as many questionnaires as you like, but the more you participate, the more you earn.
Most surveys pay $1 each, according to IveTriedThat.com. But you can earn up to $10 on some. You can request a payout when you have $35 in your account, according to IveTriedThat.com.
2. Swagbucks
Accumulate points called SB by searching the Web, completing surveys, watching videos, referring your friends, shopping in the app's mall, completing special offers, voting in daily polls, finding swag codes and entering fun contests via social media and the Swagbucks blog. These points can be redeemed for gift cards from stores like Amazon, Target and Walmart or for PayPal cash. At time of writing, Swagbucks has given out $97,751,668 in destributed rewards. Download the app on your iOS or Android device.
3. Slidejoy
Get paid an average of $5 to $15 per month, according to CNET, for putting ads on your Android device. Every time you check your phone, you'll see a card with a news story or promotion. You can slide left to learn more about it, slide up to see another card or slide right to use your phone as normal.
You don't receive any more or less money for engaging with the content, so you essentially do nothing to get paid. Keep the cash you earned or donate it to the Jericho Project, Got Your Six or TutorChatLive.org.
4. Pact
Cash in for achieving your health and fitness goals. Download the app on your iOS or Android device, make a weekly pact to exercise more or eat healthy, use the app to track your goals and earn an average of 30 cents to $5 per week for achieving results, depending on the number of activities completed.
Your activities are verified with GPS, photos and other services. If you fail to meet your pact, you'll have to pay up.
5. BookScouter
Earn money by selling your old books. This iOS and Android app allows you to scan or enter the barcode number to instantly compare buyback prices from leading book-buying websites. Choose the buyer offering the highest price and ship your book for free.
Registration is easy. Simply use your email address to create an account or log in through a host of eligible social networks.
6. AppTrailers
Watch trailers of new apps spanning 30 seconds or less on your iOS or Android device and get paid for it. Earnings start at 500 points (50 cents) and can be redeemed for gift cards or cash via PayPal, according to Dailybucks.info. Another way to earn cash with this app: Upload videos and get likes.
7. Loot!
Complete actions for your favorite brands, such as taking pictures or sharing content on social media, and get paid for it. To get started, download the app on your iOS or Android device, browse through the different brand campaigns and complete an action. When you reach $10, earnings can be withdrawn through your PayPal account. So far, users have earned more than $100,000.
8. Gigwalk
Find as much or as little contract work as you want by connecting with local businesses in need of your skill set. Download the app on your iOS or Android device, register your account and apply for gigs you see on the map or the list. Gigs pay from $3 to $100, and you get paid through PayPal.
9. Ebates
Earn up to 40 percent cash back every time you shop online at one of 1,800 participating retailers. Plus, you can earn up to $50 for referring two friends. Simply download the app on your iOS or Android device. Payments are made every three months by paper check or PayPal, or you can have your money sent to a charity, organization or family member.
Read: How Downloading Free Apps Like RedLaser Can Save You Hundreds on Christmas Expenses
10. Clashot
Get paid by taking photos of art, cities, food and more with your smartphone and selling them on Depositphotos. Android and iOS users can sell photos for 50 cents to $80, and royalties average 44 percent per sale. Users are required to register an account at Clashot, share a photo with a complete description and a model release and complete a quick verification process to start selling.
11. Ibotta
Earn cash back for shopping online, submitting a receipt or linking a loyalty account by downloading Ibotta with your iOS or Android device. Before shopping online, head to Ibotta to unlock cash rewards by completing simple tasks. After shopping at a store, simply scan your product barcodes and send a photo of your receipt to have your purchase verified. When using a loyalty card, just remember to scan your card or enter your phone number.
12. Mobee
Get paid to mystery shop at businesses in your area. Simply download the app for your iOS or Android device and search for a mission that interests you. It only takes a few minutes to answer the five to 10 questions you'll be asked, and within 24 hours you'll be eligible to receive quality and credit points.
Expect to earn between 150 points ($1.50) and 3,000 points ($30) for each completed mission, according to the book "Easy & Quick Money."
13. Surveys On the Go
Get paid for sharing your opinions on various things, including the news, entertainment, sports, technology and more. Download the app on your iOS or Android device, sign up and complete all available demographic surveys. You'll be notified when new surveys are available.
Pay ranges from 25 cents to $5 in cash for completing surveys, and it averages $1 each. When you reach $10, you can cash out through PayPal.
14. Shopkick
This iOS and Android app shows you popular products and rewards at popular retailers and gives you kicks (points) for walking in the door, more for scanning items and even more for making purchases. Most rewards are worth 250 kicks, and 500 kicks equals $2. Create an account to set up your profile and then you're ready to start.
15. Tap Cash Rewards
This Android app allows you to earn gift cards and cash for downloading, installing and playing the newest free games and apps; watching videos and completing simple tasks. After earning enough credits, you can redeem them for Amazon, Google Play gift cards or cash through PayPal.
16. Google Opinion Rewards
Android users can respond to a survey from Google and receive up to $1 in Play credits, but the credits vary, depending on the survey. Download the app, answer a few questions about yourself and wait to receive your first questionnaire. Expect to receive an average of one survey per week, covering topics such as "Which logo is best?" and "When do you plan on traveling next?"
17. Money Machine
Earn cash by completing easy tasks, like downloading apps and watching videos. Offers are available each day, making it possible to earn points that can be cashed in via PayPal or traded for the various offers. You can also earn referral points by sharing the Android app with your friends.
18. Snap by Groupon
Make clipping grocery coupons a thing of the past by downloading this app on your iOS or Android device. Browse the offers for the week before heading to the market and save any you want to buy to your Snap shopping list. Take a picture of your receipt after purchasing the items and request a cash payment after earning at least $20.
19. Field Agent
Earn approximately $3 to $12 per task for completing simple jobs, such as visiting your local discount store and taking a picture of an assigned product and verifying its price. Download the app on your iOS or Android device, complete your profile and start making money that will be sent to your PayPal or Dwolla account. The app is used by hundreds of small businesses and major companies, such as General Electric, Johnson & Johnson and Walgreens.
20. Iconzoomer
Share snapshots of your consumer activity and earn extra cash. Download the app on your iOS or Android device, create a profile and wait to receive your assignments. Expect to be asked to take pictures of things like what you're eating for dinner or the shoes you're wearing.
Share a review of the products you photograph and submit the image to receive five credits. You can request a PayPal payout when your account balance reaches 200 credits.
Android and iOS users can earn gift cards, airline miles, magazine subscriptions and more for completing 15- to 20-minute surveys. After downloading the app, you'll tell the app a little about yourself to help iPoll match you to future surveys. Complete as few or as many questionnaires as you like, but the more you participate, the more you earn.
Most surveys pay $1 each, according to IveTriedThat.com. But you can earn up to $10 on some. You can request a payout when you have $35 in your account, according to IveTriedThat.com.
2. Swagbucks
Accumulate points called SB by searching the Web, completing surveys, watching videos, referring your friends, shopping in the app's mall, completing special offers, voting in daily polls, finding swag codes and entering fun contests via social media and the Swagbucks blog. These points can be redeemed for gift cards from stores like Amazon, Target and Walmart or for PayPal cash. At time of writing, Swagbucks has given out $97,751,668 in destributed rewards. Download the app on your iOS or Android device.
3. Slidejoy
Get paid an average of $5 to $15 per month, according to CNET, for putting ads on your Android device. Every time you check your phone, you'll see a card with a news story or promotion. You can slide left to learn more about it, slide up to see another card or slide right to use your phone as normal.
You don't receive any more or less money for engaging with the content, so you essentially do nothing to get paid. Keep the cash you earned or donate it to the Jericho Project, Got Your Six or TutorChatLive.org.
4. Pact
Cash in for achieving your health and fitness goals. Download the app on your iOS or Android device, make a weekly pact to exercise more or eat healthy, use the app to track your goals and earn an average of 30 cents to $5 per week for achieving results, depending on the number of activities completed.
Your activities are verified with GPS, photos and other services. If you fail to meet your pact, you'll have to pay up.
5. BookScouter
Earn money by selling your old books. This iOS and Android app allows you to scan or enter the barcode number to instantly compare buyback prices from leading book-buying websites. Choose the buyer offering the highest price and ship your book for free.
Registration is easy. Simply use your email address to create an account or log in through a host of eligible social networks.
6. AppTrailers
Watch trailers of new apps spanning 30 seconds or less on your iOS or Android device and get paid for it. Earnings start at 500 points (50 cents) and can be redeemed for gift cards or cash via PayPal, according to Dailybucks.info. Another way to earn cash with this app: Upload videos and get likes.
7. Loot!
Complete actions for your favorite brands, such as taking pictures or sharing content on social media, and get paid for it. To get started, download the app on your iOS or Android device, browse through the different brand campaigns and complete an action. When you reach $10, earnings can be withdrawn through your PayPal account. So far, users have earned more than $100,000.
8. Gigwalk
Find as much or as little contract work as you want by connecting with local businesses in need of your skill set. Download the app on your iOS or Android device, register your account and apply for gigs you see on the map or the list. Gigs pay from $3 to $100, and you get paid through PayPal.
9. Ebates
Earn up to 40 percent cash back every time you shop online at one of 1,800 participating retailers. Plus, you can earn up to $50 for referring two friends. Simply download the app on your iOS or Android device. Payments are made every three months by paper check or PayPal, or you can have your money sent to a charity, organization or family member.
Read: How Downloading Free Apps Like RedLaser Can Save You Hundreds on Christmas Expenses
10. Clashot
Get paid by taking photos of art, cities, food and more with your smartphone and selling them on Depositphotos. Android and iOS users can sell photos for 50 cents to $80, and royalties average 44 percent per sale. Users are required to register an account at Clashot, share a photo with a complete description and a model release and complete a quick verification process to start selling.
11. Ibotta
Earn cash back for shopping online, submitting a receipt or linking a loyalty account by downloading Ibotta with your iOS or Android device. Before shopping online, head to Ibotta to unlock cash rewards by completing simple tasks. After shopping at a store, simply scan your product barcodes and send a photo of your receipt to have your purchase verified. When using a loyalty card, just remember to scan your card or enter your phone number.
12. Mobee
Get paid to mystery shop at businesses in your area. Simply download the app for your iOS or Android device and search for a mission that interests you. It only takes a few minutes to answer the five to 10 questions you'll be asked, and within 24 hours you'll be eligible to receive quality and credit points.
Expect to earn between 150 points ($1.50) and 3,000 points ($30) for each completed mission, according to the book "Easy & Quick Money."
13. Surveys On the Go
Get paid for sharing your opinions on various things, including the news, entertainment, sports, technology and more. Download the app on your iOS or Android device, sign up and complete all available demographic surveys. You'll be notified when new surveys are available.
Pay ranges from 25 cents to $5 in cash for completing surveys, and it averages $1 each. When you reach $10, you can cash out through PayPal.
14. Shopkick
This iOS and Android app shows you popular products and rewards at popular retailers and gives you kicks (points) for walking in the door, more for scanning items and even more for making purchases. Most rewards are worth 250 kicks, and 500 kicks equals $2. Create an account to set up your profile and then you're ready to start.
15. Tap Cash Rewards
This Android app allows you to earn gift cards and cash for downloading, installing and playing the newest free games and apps; watching videos and completing simple tasks. After earning enough credits, you can redeem them for Amazon, Google Play gift cards or cash through PayPal.
16. Google Opinion Rewards
Android users can respond to a survey from Google and receive up to $1 in Play credits, but the credits vary, depending on the survey. Download the app, answer a few questions about yourself and wait to receive your first questionnaire. Expect to receive an average of one survey per week, covering topics such as "Which logo is best?" and "When do you plan on traveling next?"
17. Money Machine
Earn cash by completing easy tasks, like downloading apps and watching videos. Offers are available each day, making it possible to earn points that can be cashed in via PayPal or traded for the various offers. You can also earn referral points by sharing the Android app with your friends.
18. Snap by Groupon
Make clipping grocery coupons a thing of the past by downloading this app on your iOS or Android device. Browse the offers for the week before heading to the market and save any you want to buy to your Snap shopping list. Take a picture of your receipt after purchasing the items and request a cash payment after earning at least $20.
19. Field Agent
Earn approximately $3 to $12 per task for completing simple jobs, such as visiting your local discount store and taking a picture of an assigned product and verifying its price. Download the app on your iOS or Android device, complete your profile and start making money that will be sent to your PayPal or Dwolla account. The app is used by hundreds of small businesses and major companies, such as General Electric, Johnson & Johnson and Walgreens.
20. Iconzoomer
Share snapshots of your consumer activity and earn extra cash. Download the app on your iOS or Android device, create a profile and wait to receive your assignments. Expect to be asked to take pictures of things like what you're eating for dinner or the shoes you're wearing.
Share a review of the products you photograph and submit the image to receive five credits. You can request a PayPal payout when your account balance reaches 200 credits.
How Does Facebook Make Money?
How Does Facebook Make Money?
Despite having over two billion users on its platform, Facebook doesn't actually make any money on content or directly through its user base.
Instead, it makes billions via digital advertising, as Facebook has something that companies really want - access to billions of people around the globe who might buy their products or services. In fact, so many companies advertise on Facebook that in 2017, Facebook earned $39.9 billion from advertising revenue. All in all, the company earns about 85% of its money from advertising.
What forms of advertising does Facebook use to make its money? Here's a list:
1. Self-Serve Advertising
This type of advertising is widely used on Facebook - self-serve advertising enables anyone to create and put up an ad on Facebook. Self-serve advertisements appear on the right side (or "sidebar") on Facebook pages, for individuals, groups, user profiles, events, and third-party pages. Facebook's Ad Manager page helps advertisers create their own ads, offering granular target tools to ensure the ad reaches the intended audience.
2. Targeted Advertisements
Facebook holds a massive amount of personal data on its user base, including gender, age, hobbies, career choices, political preferences, shopping preferences - even their favorite baseball team. That allows Facebook to sell advertising space to companies and organizations who want to hone in on a specific demographic, like video game players or Range Rover owners. Or, more generically, advertisers can target ads to larger groups of people based on political preferences, religion, or even age. Advertisers can use specific tools like Facebook's Dynamic Ads to market their entire inventory of products to users at different income levels, to up their chances of making a sale. Targeted ads are a significant revenue generator for Facebook, and it's all due to the data the company collects on its user base.
Despite having over two billion users on its platform, Facebook doesn't actually make any money on content or directly through its user base.
Instead, it makes billions via digital advertising, as Facebook has something that companies really want - access to billions of people around the globe who might buy their products or services. In fact, so many companies advertise on Facebook that in 2017, Facebook earned $39.9 billion from advertising revenue. All in all, the company earns about 85% of its money from advertising.
What forms of advertising does Facebook use to make its money? Here's a list:
1. Self-Serve Advertising
This type of advertising is widely used on Facebook - self-serve advertising enables anyone to create and put up an ad on Facebook. Self-serve advertisements appear on the right side (or "sidebar") on Facebook pages, for individuals, groups, user profiles, events, and third-party pages. Facebook's Ad Manager page helps advertisers create their own ads, offering granular target tools to ensure the ad reaches the intended audience.
2. Targeted Advertisements
Facebook holds a massive amount of personal data on its user base, including gender, age, hobbies, career choices, political preferences, shopping preferences - even their favorite baseball team. That allows Facebook to sell advertising space to companies and organizations who want to hone in on a specific demographic, like video game players or Range Rover owners. Or, more generically, advertisers can target ads to larger groups of people based on political preferences, religion, or even age. Advertisers can use specific tools like Facebook's Dynamic Ads to market their entire inventory of products to users at different income levels, to up their chances of making a sale. Targeted ads are a significant revenue generator for Facebook, and it's all due to the data the company collects on its user base.
How does Whatsapp make money?
How does Whatsapp make money?
WhatsApp pricing?
When WhatsApp first started, they used to charge a $1 a year subscription (sometimes offering the first year for free).
However since 2016, WhatsApp has been completely free for everyone. (Similar to Discord)
As of 2018, WhatsApp makes very little money compared their user base, as the service remains free and free of ads. (In 2014, Facebook reported that WhatsApp made approximately $1.2M on subscriptions)
Following Facebook’s acquisition, it doesn’t seem like they have a big need to make money soon.
WhatsApp Future Revenue Plans
Facebook motive behind the acquisition of WhatsApp is clear: they are going to gather more and more data from you such as conversation patterns, behavioral information, live location, your entire contact list, and more (yikes).
This data can in turn be used by Facebook to provide even better targeted advertising.
(Let’s just hope they don’t get into another Cambridge Analytica scandal.)
When WhatsApp first started, they used to charge a $1 a year subscription (sometimes offering the first year for free).
However since 2016, WhatsApp has been completely free for everyone. (Similar to Discord)
As of 2018, WhatsApp makes very little money compared their user base, as the service remains free and free of ads. (In 2014, Facebook reported that WhatsApp made approximately $1.2M on subscriptions)
Following Facebook’s acquisition, it doesn’t seem like they have a big need to make money soon.
WhatsApp Future Revenue Plans
Facebook motive behind the acquisition of WhatsApp is clear: they are going to gather more and more data from you such as conversation patterns, behavioral information, live location, your entire contact list, and more (yikes).
This data can in turn be used by Facebook to provide even better targeted advertising.
(Let’s just hope they don’t get into another Cambridge Analytica scandal.)
online money making opportunities in Nigeria
Online money making opportunities in Nigeria
1. Start a Youtube Channel
Starting a youtube channel is the easiest way of making money online in Nigeria and needs absolutely no startup investment.
Youtube gets an amazing 5 billion views per day which proves it’s power on the internet. There’s no doubt how much money people are making online via this platform. In fact, one man named Felix Kjellberg, the owner of PewDiePie earned 12 million dollars back in 2015 by running a single Youtube channel.
Making money on YouTube is one of the easiest online money making opportunities that you can find anywhere. This is mainly because the platform allows for people with basic computer knowledge to leverage on their creative abilities to create content that can attract viewers and followers.
With increasing followership, your YouTube channel can then be monetized. Your earning potential really won’t be determined solely by the number of subscribers and views you have, but also by the level of engagement you generate, the niche you provide content to, and the revenue channels you explore.
Let us go through some of the most popular YouTube niches that are highly lucrative…
1. Start a Youtube Channel
Starting a youtube channel is the easiest way of making money online in Nigeria and needs absolutely no startup investment.
Youtube gets an amazing 5 billion views per day which proves it’s power on the internet. There’s no doubt how much money people are making online via this platform. In fact, one man named Felix Kjellberg, the owner of PewDiePie earned 12 million dollars back in 2015 by running a single Youtube channel.
Making money on YouTube is one of the easiest online money making opportunities that you can find anywhere. This is mainly because the platform allows for people with basic computer knowledge to leverage on their creative abilities to create content that can attract viewers and followers.
With increasing followership, your YouTube channel can then be monetized. Your earning potential really won’t be determined solely by the number of subscribers and views you have, but also by the level of engagement you generate, the niche you provide content to, and the revenue channels you explore.
Let us go through some of the most popular YouTube niches that are highly lucrative…
How Does Uber Make Money?
Uber and other ridesharing companies make money by taking a share of every trip charged through their phone apps. Uber keeps 25% of each fare booked through its app, while its rival Lyft takes 20%.
Uber sets different rates for every city. The fares vary according to the immediate demand for rides and the user's choice of vehicle and service.
How Uber's Pricing Works
Uber relies on a surge pricing strategy that increases rates during times of peak demand. That draws more drivers to take to the roads to claim fares. Once peak demand is met, the fares gradually decrease.
In New York City, the Uber estimator quotes prices ranging from about $39 to about $60 from Times Square to Laguardia International Airport. The city recently passed a law requiring ride-sharing services to pay its drivers a minimum of $17.86 an hour.
The Uber app collects the fare by credit card before the driver arrives, and collects an optional tip for the driver afterward.
Uber sets different rates for every city. The fares vary according to the immediate demand for rides and the user's choice of vehicle and service.
How Uber's Pricing Works
Uber relies on a surge pricing strategy that increases rates during times of peak demand. That draws more drivers to take to the roads to claim fares. Once peak demand is met, the fares gradually decrease.
In New York City, the Uber estimator quotes prices ranging from about $39 to about $60 from Times Square to Laguardia International Airport. The city recently passed a law requiring ride-sharing services to pay its drivers a minimum of $17.86 an hour.
The Uber app collects the fare by credit card before the driver arrives, and collects an optional tip for the driver afterward.
Aliko Dangote Net Worth
At the age of 21, Aliko Dangote borrowed $3,000 from his uncle to import and sell agricultural commodities in Nigeria, his native country. His business venture quickly became a success, and as a result, he managed to repay the entire loan within three months of starting operations. For the seventh in a row, Dangote was the richest man in Africa in 2018, with an estimated net worth of $14.1 billion. The business empire he began to build more than three decades ago, Dangote Group, is one of the largest private-sector employers in Nigeria as well as the most valuable conglomerate in West Africa.
Dangote's business interests encompass many industries, including oil and gas, consumer goods and manufacturing. About 80% of his conglomerate's revenue comes from Dangote Cement. According to Forbes magazine, the subsidiary produces 44 million metric tons of cement every year and plans to increase output by 33% by 2020. Dangote also owns the world's third-largest sugar refinery, and together all of his publicly traded companies make up a quarter of the market capitalization of the Nigerian Stock Exchange.
What Is Jake Paul's Net Worth
Jake Paul is a YouTuber and former Disney Channel actor
You might know Jake Paul from starring on Disney Channel’s original show, Bizaardvark. Some know him as the brother of YouTuber, Logan Paul. Others know him as the leader of “Team 10” a group of vloggers who live together. Today, Jake Paul is one of the most popular and controversial personalities on YouTube.
Presumably, Jake Paul makes most of his money from sponsorships on YouTube. His channel has over 19 million subscribers, some videos earning over 100 million views. In addition to selling merchandise, (and advertising it in his songs,) Jake Paul earned money from working with Disney and owning a digital talent-management company.
According to Forbes, as of 2017, Jake Paul’s net worth is an estimated $11.5 million. This places him as No. 7 on Forbes “Highest-paid YouTube Stars” list. Logan Paul ranks No. 4 on the list, with an estimated net worth of $12.5 million.
You might know Jake Paul from starring on Disney Channel’s original show, Bizaardvark. Some know him as the brother of YouTuber, Logan Paul. Others know him as the leader of “Team 10” a group of vloggers who live together. Today, Jake Paul is one of the most popular and controversial personalities on YouTube.
Presumably, Jake Paul makes most of his money from sponsorships on YouTube. His channel has over 19 million subscribers, some videos earning over 100 million views. In addition to selling merchandise, (and advertising it in his songs,) Jake Paul earned money from working with Disney and owning a digital talent-management company.
According to Forbes, as of 2017, Jake Paul’s net worth is an estimated $11.5 million. This places him as No. 7 on Forbes “Highest-paid YouTube Stars” list. Logan Paul ranks No. 4 on the list, with an estimated net worth of $12.5 million.
Tuesday, August 20, 2019
What is Bitcoin?
What is Bitcoin?
Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual.
It's like an online version of cash. You can use it to buy products and services, but not many shops accept Bitcoin yet and some countries have banned it altogether.
The physical Bitcoins you see in photos are a novelty. They would be worthless without the private codes printed inside them.
Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer.
People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people.
Every single transaction is recorded in a public list called the blockchain.
This makes it possible to trace the history of Bitcoins to stop people from spending coins they do not own, making copies or undo-ing transactions.
It's like an online version of cash. You can use it to buy products and services, but not many shops accept Bitcoin yet and some countries have banned it altogether.
The physical Bitcoins you see in photos are a novelty. They would be worthless without the private codes printed inside them.
Each Bitcoin is basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer.
People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people.
Every single transaction is recorded in a public list called the blockchain.
This makes it possible to trace the history of Bitcoins to stop people from spending coins they do not own, making copies or undo-ing transactions.
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