What is a Bitcoin?

Bitcoin, never heard of it?
It is known as the world's first cryptocurrency. The concept of Bitcoin was released in January 2009 by someone named Satoshi Nakamoto, But the identity is still unknown. Bitcoin is a form of peer-to-peer transfer of cash without any intermediary. In short, you can think of it as an imaginary currency which can be exchanged with a real currency on a particular fixed rate.
There are different units to understand the value of a bitcoin properly. The alternative units used for small amount of bicoins are Millibitcoin (mBTC) and satoshi (sat).

1 MilliBitcoin = 0.00100000 Bitcoin
1 Satoshi = 0.00000001 Bitcoin

You need your bitcoins to be stored somewhere safe before you spent or exchange them. For this purpose, a bitcoin wallet is used. Well, technically bitcoins are not really stored anywhere because its a cryptocurrency there is a private key for every bitcoin address that is saved in the bitcoin wallet of the person who owns the balance. If it's hard for you to understand than just consider it as a wallet where your money is stored and you own a secret password to open it. Learn more about bitcoin wallets here.

You can be a bitcoin holder either by accepting them as means of payment for goods and services from others or by earning bitcoins in many ways. Different ways of earning bitcoins include:

• Faucets - They can be considered as free giveaway sites. People are rewarded for doing different kind of stuff, mostly just by solving captchas. Some other stuff includes watching videos, taking surveys, playing games, etc. While some faucets giveaway free bitcoins every 5 minutes, some faucets giveaway after every 24 hour. According to my observation most faucets don't last for a long period of time except for those which are more popular such as freebitco.in. I discuss about different trending faucets every week in y blog, so do check it out if you're interested in working with bitcoin faucets.
• Gambling - Online bitcoin gambling can take place in variety of forms, including poker, casino games, dice games, etc. The sites also offer welcome bonuses for its users to get started with their gambling. Few sites even provide with proof that they are running legitimate bitcoin betting environment, it means that their games are provably fair and the odds are not overwhelmingly against players. Gambling is banned in many countries around the world so just make sure that bitcoin gambling is legal in your country before getting started. FortuneJack is one of the famous bitcoin gambling site to be known.
• Trading - To be honest I know nothing about bitcoin trading, but 99bitcoins offers a complete bitcoin trading guide for beginners. Click here and learn about bitcoin trading.
• Mining - Mining includes some really deep technical stuff in bitcoins. Mining includes finding some kind of blocks and when a block is discovered the miner gets a reward. In old days mining was done on CPU but the concept was removed after it was observed that the amount of bitcoins earned were lower then the cost of power to operate a CPU. Since then GPU is considered best for mining purpose. Learn about bitcoin mining here.