Cryptocurrency is a type of digital currency, which has surged in demand since the late 2000s with the launch of Bitcoin. Simply put, Bitcoin is a cryptocurrency that came to light in 2008. Bitcoin was founded by an unknown person or group of persons using the name Satoshi Nakamoto. Bitcoin is among the most valued cryptocurrencies, where one Bitcoin is currently valued at USD 45,409 or Rs. 33,18,822. Do note, the value of Bitcoin keeps changing according to the market.
|Oct 03, 2022||15,55,590||15,53,562||15,58,549||15,49,093||-||0.16|
|Oct 02, 2022||15,53,083||15,74,326||15,80,668||15,43,742||-||-1.34|
|Oct 01, 2022||15,81,328||15,83,415||15,88,059||15,78,936||-||-0.15|
|Sep 30, 2022||15,83,644||15,96,987||16,40,743||15,63,819||-||-0.81|
|Sep 29, 2022||15,96,505||15,81,374||16,01,743||15,42,404||-||1.01|
|Sep 28, 2022||15,80,617||15,59,744||16,08,582||15,14,375||-||1.2|
|Sep 27, 2022||15,78,963||15,69,284||15,80,192||15,66,819||-||0.64|
|Sep 26, 2022||15,68,978||15,28,647||15,74,447||15,24,267||-||2.8|
|Sep 25, 2022||15,26,278||15,37,392||15,55,724||15,16,321||-||-0.72|
|Sep 24, 2022||15,37,416||15,66,964||15,68,510||15,28,159||-||-1.93|
|Sep 23, 2022||15,67,655||15,72,909||15,79,240||15,05,685||-||-0.36|
|Sep 22, 2022||15,73,269||14,78,052||15,78,958||14,68,495||-||6.18|
|Sep 21, 2022||14,81,762||15,05,540||15,79,818||14,57,092||-||-1.56|
|Sep 20, 2022||15,05,291||15,57,349||15,64,063||14,98,241||-||-3.31|
|Sep 19, 2022||15,56,863||15,47,353||15,66,886||14,55,828||-||0.53|
|Sep 18, 2022||15,48,647||16,02,758||16,02,758||15,41,053||-||-3.42|
|Sep 17, 2022||15,89,255||15,78,116||15,98,594||15,75,795||-||0.8|
|Sep 16, 2022||15,76,675||15,73,805||15,85,214||15,42,543||-||0.21|
|Sep 15, 2022||15,73,302||16,06,892||16,16,534||15,58,893||-||-2.07|
|Sep 14, 2022||16,06,580||16,06,041||16,31,734||15,62,436||-||0.04|
|Sep 13, 2022||16,05,912||17,77,085||17,97,130||15,84,710||-||-9.61|
|Sep 12, 2022||17,24,891||17,38,959||17,38,959||17,24,891||-||-0.65|
|Sep 11, 2022||17,36,130||17,24,884||17,36,130||17,02,577||-||0.6|
|Sep 10, 2022||17,25,721||17,01,966||17,35,809||16,84,121||-||1.29|
|Sep 09, 2022||15,47,760||15,39,822||15,49,255||15,37,790||-||0.49|
|Sep 08, 2022||15,40,282||15,37,481||15,50,839||15,18,349||-||0.28|
|Sep 07, 2022||15,08,812||15,01,336||15,08,973||14,92,173||-||0.46|
|Sep 06, 2022||15,01,886||15,79,366||16,13,071||14,96,644||-||-4.89|
|Sep 05, 2022||15,87,331||15,95,133||15,97,641||15,85,009||-||-0.42|
Bitcoin cryptocurrency can be traded in India suing multiple platforms that offer Bitcoin buying and selling as a service. For instance, platforms like BuyUCoin, Coinshare, Unocoin, and so on offer an exchange platform. Here, Bitcoin users can buy or sell the cryptocurrency using the app or the web platform.
Cryptocurrencies are not illegal including in a country like India. Anyone in India can buy or sell cryptocurrencies like Bitcoin. However, do note, Bitcoin and other cryptocurrencies in India are unregulated. However, India is presently exploring a cryptocurrency regulatory body for better management of buying and selling.
Investing in Bitcoin means simply buy Bitcoins using multiple platforms available in India. There are several apps available now that make buying and investing in Bitcoin very easy. Apps like Kuvera can be downloaded from Google Play or App Store and your basic details need to be entered. These apps show the current value of Bitcoin and other available cryptocurrencies, giving investors an idea about the rates, rise, and fall of the value of cryptocurrencies.
Bitcoin is a digital currency that is currently unregulated. Unlike physical currencies like the Indian Rupee or the United States Dollar, Bitcoin is a digital currency that is based on blockchains.
When it comes to storing Bitcoins, one needs to understand digital wallets. As the name suggests, a digital wallet is stored on either hardware or can be stored on the web. You can store your Bitcoin even on your mobile or even on your desktop/laptop. At the same time, make sure you keep the Bitcoin credentials safe and secure, including the addresses and private keys.
At the same time, one needs to understand how Bitcoins are actually stored. This is where blockchains come into the picture. Bitcoins are based on blockchains that are impossible to hack as Bitcoin data is stored in multiple blocks. Bitcoin ownership data is stored online with unique information, access codes, and verification details that are remote and spread across the world, which makes hacking into it nearly impossible.
As interesting as Bitcoin is, especially considering its skyrocketing value, there are still plenty of alternatives to consider. Some of the most popular Bitcoin alternatives include Ethereum, Litecoin, Stellar, Bitcoin Cash, Binance Coin, Cardano, and so on. Plus, there are meme-famous cryptocurrencies like Dogecoin, whose value has also been rising steadily.
We’ve heard of gold mining, but have you heard of Bitcoin mining. This too is possible. Mining a bitcoin requires high skill and multiple high-performance computers. Mining Bitcoin is one of the ways to get Bitcoin; however, this can be quite expensive. For instance, you can mine Bitcoin using your regular, single PC. However, the value of a mined Bitcoin will probably less than the amount of electricity consumed to mine that Bitcoin.
Bitcoin, unlike the Indian Rupee or the United States Dollar, isn’t a physical currency. If you’re wondering how a Bitcoin looks like – it’ll probably be a bunch of codes as it’s a digital currency! However, most of the images about Bitcoin show a gold coin with a bold B to stress on the logo of the crypto.
One often wonders the positives and negatives of trading with Bitcoin. Like two sides of a coin, Bitcoin also has its pros and cons. Starting with the pros, Bitcoin is an investment with a potential for high returns and protects buyers from payment frauds. Bitcoin offers diversification and greater liquidity to investors. Plus, one can have immediate settlements, including international transactions using Bitcoins.
On the other hand, Bitcoin also has a couple of negative aspects. As easy and attractive as it seems, Bitcoin is highly volatile and makes room for large losses. As noted, there is no regulatory body covering the activities with Bitcoin, which further leads to cyber hacking. Bitcoin also paves way for a lot of black-market activity. Moreover, there is no return when it comes to Bitcoin, which is another disadvantage to it.