Why Is Everyone Talking About What Is Bitcoin? Should We Invest Money In Bitcoin?

Hello friends, in this post today, we will learn about Bitcoin. How to buy bitcoin? You will get some such information after reading this post.

Some people are making good money by investing their money in Bitcoin, so in the same way, you must have also thought that if we should invest our money in Bitcoin, then today I am going to tell you about all these things.

So let’s know the complete information about Bitcoin here, I will share with you all the things I know about Bitcoin.

What Is Bitcoin?

You can understand something about Bitcoin so Bitcoin is a virtual currency that you can use to do online trades.

Here Virtual Currency derives that in the way we can contact INR and Dollar in Currency with your hands, yet we can’t contact this Bitcoin. All the bitcoins we have are in our Bitcoin Wallet.

Incidentally, if we have Indian Rupees (INR) money, if we have to buy anything, by then we can buy anything by going any spot in the market.

Regardless, with Bitcoin, there is no such site where they see Bitcoin in the wake of shopping from It.

These are some websites where Bitcoin is accepted: –

  • Microsoft
  • Namecheap
  • OkCupid
  • Reddit
  • Shopify
  • Stripe
  • Wikipedia
  • WordPress

If you have Bitcoin, you can use them on these websites.

In the year 2009, Satoshi Nakamoto (Founder Of Bitcoin) invented Bitcoin and at that time the price of a Bitcoin was very low.

How much does a bitcoin cost?

If we talk about the number of rupees are in a bitcoin, at that point it is never fixed similarly that the estimation of the dollar props up down, similarly, that bitcoin continues as before.

1 The cost of Bitcoin can increment or abatement whenever there is no time that its cost will increment or diminishing as of now.

Furthermore, presently, in the event that we talk about what is the expense of 1 bitcoin right now, at that point I am revealing to you the cost of the day (10 August 2020), on the off chance that you are perusing this post any time later, at that point its cost will be less Can likewise occur.

So the price of 1 bitcoin is now close to 9 lakhs and you can see the screenshot below for more information.

Why Is Everyone Talking About What Is Bitcoin? Should We Invest Money In Bitcoin?

To know the cost of 1 Bitcoin at the same time you are reading this post, you have to open Google.Com on your mobile or computer and you have to search for it by writing there.

1 Bitcoin To INR

When you search by writing this, just like I have given you the above screenshot, in the same way, you can also know the real price of 1 bitcoin at that time.

How to buy bitcoin?

So if you also want to buy Bitcoin, then there are two such applications for which Bitcoin can be easily purchased, both these applications will be found on Google Play Store, you can download them from here.

  1. Zebpay
  2. Unocoin Wallet

Out of these applications, people like to use the Zebpay Application.

Presently first you need to join or register in it, in which you will be taken your Voter ID Card, Aadhar Card, Bank Details and your record will be actuated in around 24 hours.

At that point from that point onward, you can purchase Bitcoin by placing money in your record from the bank, so as I just disclosed to you that the cost of a bitcoin is around 8 to 9 lakh rupees, it isn’t essential that you need to purchase the entire 1 bitcoin.

On the off chance that you need to purchase 1,000 or even 2,000 rupees, you can without much of a stretch get it.

Furthermore, at whatever point you need, you can without much of a stretch believer those bitcoins into your Indian cash and move them to your bank.

Furthermore, in both these applications, in the event that you need to purchase Bitcoin, at that point you can purchase and simultaneously on the off chance that you need to sell those bitcoins, you can likewise do as such. You will get the two offices on these applications.

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So, guys, I hope you have learned how Bitcoin is bought and sold.

Benefits of using Bitcoin: –

Now let us know what the benefits of using Bitcoin can be and along with this, I will also tell you about its disadvantages.

  • If you buy a bitcoin today, in such a situation, the price of that one bitcoin will continue to increase in the coming time, if you invest your money in it for a long time only then you can benefit from it.
  • The way in our banks it can be found out when to send us how many rupees or from whom, how much money, but this is not the case with Bitcoin, we can send or take as many bitcoins to anyone as we can by doing this There is not even a block.
  • If you want to sell your Bitcoin to someone else, it can be sold instantly from your mobile within minutes.

So these were the advantages of using Bitcoin.

Disadvantages of using Bitcoin: –

Presently let us likewise think about the inconveniences of utilizing Bitcoin, in the event that we use Bitcoin, at that point what are the drawbacks we can utilize.

In the event that you actually have a record hack of Bitcoin, at that point the odds of getting it recouped are extremely low on the grounds that as indicated by the law of the Government of India, in the event that you purchase or sell Bitcoin, at that point, you won’t get any assistance from the administration.

In the event that you put all your store capital in Bitcoin, in such a circumstance, in the event that the cost of Bitcoin out of nowhere falls, at that point, you can lose all your store capital.

So I hope you have learned about all the advantages and disadvantages of Bitcoin.

Should we invest our money in bitcoin?

From 2010 to 2016-17, numerous individuals have made a benefit with respect to Bitcoin, however now they ought to put resources into Bitcoin. So we should know a smidgen about it as well.

A considerable lot of you individuals will do UPI Payments, in the way on the off chance that you need to send cash through UPI to somebody, at that point we should know UPI Pin for that.

Similarly, Bitcoin additionally occurs in the event that somebody gives their Bitcoin ID, at that point that individual can send us Bitcoin.

However, in this, in the event that it tends to be identified by the Government of India or the bank, who is the individual behind any UPI ID, that is, whoever utilizes that UPI ID, the name address, and the ledger can be discovered.

And if we want to know who is the person behind Bitcoin ID, it is difficult to find out. This is the reason the Indian government forbids the use of Bitcoin.

And I believe that you people should not invest in Bitcoin, if you invest your money in Bitcoin, then you can sink that money.

Also Read:- 

We Should Know What Is Mutual Fund And How To Invest With Minimal Spending

So, guys, I hope you all know that what is Bitcoin? Thank you all for reading this post.

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