What is Bitcoin and How To Invest in BTC: Bitcoin (BTC) is just a virtual currency. It is such a currency that no one can see it, it is found in virtual format. It is kept secure in electronic form. Its trend has increased a lot in the last few years. You can buy it like any other currency like Dollar, Rupee, Krona, Dinar and more. Now let us know in detail about the “Bitcoin and its Investment” in this post.
When bitcoin came into reality in 2009, it was priced at zero dollars, but its price suddenly bounced very rapidly. If we look at the figures, in 2010 the price of one bitcoin was $ 0.08, which reached one dollar during April 2011. If someone told you that if you had invested only Rs 3.6 in the year 2010, then after 11 years i.e. today you would be the owner of Rs 46.50 lakh. The rise in the price of bitcoin during the last 11 years fully proves this point. When we talk about the value of bitcoin in 2022, its price in Indian Rupee is above 32 lakh.
What is Bitcoin?
Bitcoin is a decentralized currency, which means that it is not tied to any specific country or currency. It is a currency built on top of blockchain technology, which means that transactions made with bitcoin are publicly and chronologically stored on the blockchain.
Bitcoin was introduced in 2009 by an individual or group named Satoshi Nakamoto. Bitcoin was meant to be a way to create a digital version of cash where payments could be made from person to person without having to go through a financial institution or another middleman who might charge a fee for this type of payment and can slow down the processing time.
Bitcoin is an English word ‘Crypto’, which means secret. Bitcoin works based on the laws of cryptography. Cryptography means the art of solving coding language. Save bitcoins in the bitcoin wallet. Bitcoin is stored in a digital wallet. Its price is not the same everywhere. Its price is volatile, it depends on the activities of the world. There is no fixed time for crypto trading, its price fluctuates.
Since Bitcoin is decentralized digital cash, all its transactions are done using a peer-to-peer computer network, that is, all the purchases here are done by the confirmed users. At the same time, there is no interference of any bank or government here at all.
How to Invest in Bitcoin (BTC)?
In this digital world Investing in cryptocurrencies is quite easy. You can start investing in bitcoin cryptocurrency in less than 10 to 20 minutes. For this, you need a phone number, a PAN card, and an Aadhar card, if you want to invest in Cryptocurrency in India
You can buy bitcoin online and store it in a digital wallet. A digital wallet is a small personal database that you can store on your smartphone, computer drive, tablet, or anywhere in the Internet.
Many bitcoin exchanges are available in India like Zebpay, Unocoin, Bitxoxo, Coinbase, etc You can visit their website or download their mobile app. You can then create an online account (digital wallet) on one of these exchanges. Once the digital wallet is created, you can transfer money from your bank account to the digital wallet. You can then buy and sell bitcoins with the digital wallet.
The price of bitcoin has fluctuated a lot in the past few years. Bitcoins are not regulated so you should be careful in distinguishing between fake and real bitcoins. Before trading in Bitcoins you should do proper research about the exchange, wallet, etc.