What Is Bitcoin? A Simple Guide for Crypto Beginners

By: WEEX|2025-08-12 02:45:00
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Welcome to WEEX - the world’s fastest growing crypto derivatives trading platform.

Bitcoin revolutionized finance as the first decentralized digital currency, but how does it actually work? Understanding its technology, value proposition, and risks is essential before investing.

In the following article below, everything about Bitcoin will simply be explained for you.

What is Bitcoin?

Launched in 2009, Bitcoin is a cryptocurrency that enables peer-to-peer transactions without banks or governments. Unlike traditional currencies, it operates on a decentralized network of computers worldwide.

Transactions are verified through cryptography and recorded on a public blockchain ledger. This open system allows anyone to participate in Bitcoin's borderless financial ecosystem.

The Birth of Bitcoin

In 2008, the anonymous Satoshi Nakamoto published the groundbreaking Bitcoin whitepaper, introducing a decentralized digital currency. The network launched in 2009 when Nakamoto mined the Genesis Block (50 BTC reward).

Bitcoin's first real-world transaction occurred on May 22, 2010 - 10,000 BTC for two pizzas (now celebrated as Bitcoin Pizza Day ). By 2021, Bitcoin's price soared to a record $65,000+, showcasing its remarkable evolution from experimental concept to valuable asset.

How Bitcoin works?

Unlike government-issued fiat currencies managed by banks, Bitcoin operates through cryptographic verification. Transactions are publicly recorded on an open ledger, with details like sender, receiver, and amount visible to all.

All transactions are stored in interconnected "blocks" forming a tamper-proof chain. Each block contains a unique cryptographic hash of the previous one, creating an immutable record that ensures transparency and security.

Without central authorities, transaction verification is performed by miners who compete to add new blocks. Successful miners earn Bitcoin rewards, maintaining the network while introducing new coins into circulation.

The Advantages and Disadvantages of Bitcoin

We have mentioned part of the advantages of Bitcoins above, let’s deep dive into it…and don’t ignore the risk of it.

Advantages

  • Bitcoin operates without government or bank control, ensuring no one can freeze, tax, or seize your coins. Enjoy borderless transactions anytime, without intermediaries.
  • Transactions protect your identity while blockchain technology prevents fraud, double-spending, and tampering. Every payment is permanently recorded yet pseudonymous.

Disadvantages

  • Bitcoin's extreme price swings offer profit potential but equal danger. Prices surge or crash rapidly based on mining supply, investor demand, news cycles, and regulations—making it unsuitable for stable returns.
  • While secure by design, Bitcoin isn't risk-free. Users must safeguard private keys or risk permanent loss. Hackers also target wallets through phishing and scams, requiring constant vigilance.

Conclusion

If you want to know more crypto trading information for crypto investors, follow us on WEEX Learn. We have constantly provided essential trading knowledge to enhance your investment strategy and crypto journey.

Ready to start your crypto-currency experience today? – Buy Bitcoin on WEEX now!

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UPI is recognized across India as a leading solution for fast and seamless cryptocurrency purchases using INR. With WEEX P2P, users can buy crypto directly through UPI with zero fees, access 24/7 verified merchants, and enjoy ultra-fast release times.

Compared with Binance, Bybit, and local OTC platforms, WEEX consistently offers better INR exchange rates, safer escrow protection, and more available ads for UPI users.

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WEEX P2P offers key advantages to users purchasing crypto with INR via UPI:

0% buyer fees:Save 2–8% compared to competing platforms and maximize the value of every tradeFast release times :Funds are typically released within 1–3 minutes, ensuring a smooth and efficient buying experienceOfficial escrow protection:Platform-managed escrow guarantees 100% transaction safetyFlexible trade sizes:Supports everything from small purchases to large-volume transactionsBest INR exchange rates for UPI users: Enjoy highly competitive pricing tailored for UPI paymentsThousands of merchants online 24/7: Deep liquidity and constant availability at any time of dayMore UPI ads than any competitor: Greater choice, faster matching, and higher deal completion rates

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How to Buy USDC with UPI on WEEX P2P

Buying crypto with UPI on WEEX is simple and fast. Follow these steps:

Register on WEEX and complete basic KYC verification Create your WEEX account and finish the basic identity verification process, which typically takes less than one minute to complete.Navigate to Buy Crypto → P2P Trading From the main menu, enter the P2P trading section and select INR as your preferred fiat currency.Apply the “UPI” filter Enable the UPI payment filter to view only those merchant advertisements that support UPI bank transfers.Select the most suitable merchant Review and compare available merchants based on key indicators, including:Exchange priceOrder completion rateTotal trading volumeReal-time online statusEnter the amount you wish to purchase Input your desired crypto amount, and the system will automatically calculate and display the exact payable amount in INR.Complete the payment via UPI Transfer the displayed amount using UPI, following the bank details provided by the selected merchant.Confirm payment and notify the seller Click “Transferred, Notify Seller” after completing the transfer. The seller will then verify your payment and promptly release the cryptocurrency to your WEEX account.

Your USDC will arrive instantly in your WEEX wallet — safe, fast, and with zero fees.

 

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Q1: Are there any fees when paying with UPI? A: 0% fee for buyers. Only sellers pay a small fee.

Q2: How fast will I receive USDC? A: Usually 1–5 minutes after marking payment as sent.

Q3: Is buying with UPI safe on WEEX? A: Yes. All trades use official escrow.

Q4: Do I need full KYC? A: Basic KYC is required for P2P trading.

 

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Buy USDC with Digital eRupee on WEEX P2P – 0 Fee & 24/7 INR Merchants

Across India, Digital eRupee stands out as a top choice for quick and smooth cryptocurrency purchases with INR. With WEEX P2P, users can buy crypto directly through Digital eRupee with zero fees, access 24/7 verified merchants, and enjoy ultra-fast release times.

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Why WEEX P2P is the Best Choice for Digital eRupee Users

WEEX P2P offers key advantages to users purchasing crypto with INR via Digital eRupee:

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How to Buy USDC with Digital eRupee on WEEX P2P

Buying crypto with Digital eRupee on WEEX is simple and fast. Follow these steps:

Register on WEEX and complete basic KYC verification Create your WEEX account and finish the basic identity verification process, which typically takes less than one minute to complete.Navigate to Buy Crypto → P2P Trading From the main menu, enter the P2P trading section and select INR as your preferred fiat currency.Apply the “Digital eRupee” filter Enable the Digital eRupee payment filter to view only those merchant advertisements that support Digital eRupee bank transfers.Select the most suitable merchant Review and compare available merchants based on key indicators, including:Exchange priceOrder completion rateTotal trading volumeReal-time online statusEnter the amount you wish to purchase Input your desired crypto amount, and the system will automatically calculate and display the exact payable amount in INR.Complete the payment via Digital eRupee Transfer the displayed amount using Digital eRupee, following the bank details provided by the selected merchant.Confirm payment and notify the seller Click “Transferred, Notify Seller” after completing the transfer. The seller will then verify your payment and promptly release the cryptocurrency to your WEEX account.

Your USDC will arrive instantly in your WEEX wallet — safe, fast, and with zero fees.

 

Frequently Asked Questions (FAQ)

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Q4: Do I need full KYC? A: Basic KYC is required for P2P trading.

 

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Crypto is held in escrowSellers release assets only after payment is confirmedTrades are processed quickly and safely

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Why WEEX P2P is the Best Choice for Easypaisa Users

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How to Buy USDC with Easypaisa on WEEX P2P

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Buying crypto with Bank Transfer on WEEX is simple and fast. Follow these steps:

Register on WEEX and complete basic KYC verification Create your WEEX account and finish the basic identity verification process, which typically takes less than one minute to complete.Navigate to Buy Crypto → P2P Trading From the main menu, enter the P2P trading section and select PKR as your preferred fiat currency.Apply the “Bank Transfer” filter Enable the Bank Transfer payment filter to view only those merchant advertisements that support Bank Transfer bank transfers.Select the most suitable merchant Review and compare available merchants based on key indicators, including:Exchange priceOrder completion rateTotal trading volumeReal-time online statusEnter the amount you wish to purchase Input your desired crypto amount, and the system will automatically calculate and display the exact payable amount in PKR.Complete the payment via Bank Transfer Transfer the displayed amount using Bank Transfer, following the bank details provided by the selected merchant.Confirm payment and notify the seller Click “Transferred, Notify Seller” after completing the transfer. The seller will then verify your payment and promptly release the cryptocurrency to your WEEX account.

Your USDC will arrive instantly in your WEEX wallet — safe, fast, and with zero fees.

 

Frequently Asked Questions (FAQ)

Q1: Are there any fees when paying with Bank Transfer? A: 0% fee for buyers. Only sellers pay a small fee.

Q2: How fast will I receive USDC? A: Usually 1–5 minutes after marking payment as sent.

Q3: Is buying with Bank Transfer safe on WEEX? A: Yes. All trades use official escrow.

Q4: Do I need full KYC? A: Basic KYC is required for P2P trading.

 

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How to Buy USDC with Raast on WEEX P2P

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Register on WEEX and complete basic KYC verification Create your WEEX account and finish the basic identity verification process, which typically takes less than one minute to complete.Navigate to Buy Crypto → P2P Trading From the main menu, enter the P2P trading section and select PKR as your preferred fiat currency.Apply the “Raast” filter Enable the Raast payment filter to view only those merchant advertisements that support Raast bank transfers.Select the most suitable merchant Review and compare available merchants based on key indicators, including:Exchange priceOrder completion rateTotal trading volumeReal-time online statusEnter the amount you wish to purchase Input your desired crypto amount, and the system will automatically calculate and display the exact payable amount in PKR.Complete the payment via Raast Transfer the displayed amount using Raast, following the bank details provided by the selected merchant.Confirm payment and notify the seller Click “Transferred, Notify Seller” after completing the transfer. The seller will then verify your payment and promptly release the cryptocurrency to your WEEX account.

Your USDC will arrive instantly in your WEEX wallet — safe, fast, and with zero fees.

 

Frequently Asked Questions (FAQ)

Q1: Are there any fees when paying with Raast? A: 0% fee for buyers. Only sellers pay a small fee.

Q2: How fast will I receive USDC? A: Usually 1–5 minutes after marking payment as sent.

Q3: Is buying with Raast safe on WEEX? A: Yes. All trades use official escrow.

Q4: Do I need full KYC? A: Basic KYC is required for P2P trading.

 

Ready to Buy USDC with Raast?

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