What is bitcoin and how to invest in it?
What is bitcoin, it is a topic of discussion all over the world. Meaning Bitcoin has become popular all over the world. Bitcoin is said to be the world's one open payment network. Different countries have different currency and similarly there is a currency of internet, which is called bitcoin.
There are a lot of questions related to Bitcoin in the world today. Like – what is bitcoin, how to invest in it, what are its benefits, how to earn money from it and how does it work? etc. It is because of these questions that this article is being written. We hope that you will get a lot of benefit from this article.
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What is bitcoin?
Bitcoin is the digital currency of the Internet. It is also called virtual currency. This currency is also like other countries, such as Rupee, Dollar etc. However, we cannot touch or see this currency because it is a virtual currency.
The transactions of this currency are in the form of online data and its store is also done in the online wallet. Bitcoin was invented (2009) by Satoshi Nakamoto. There is no bank or owner or government for this currency. It is a good means of earning online because it is used like internet and anyone can use it.
How much is bitcoin worth?
We know what are bitcoins? But you will be surprised to know the price of 1 bitcoin. Meaning the price of 1 bitcoin is Rs 67712.20. But its price keeps on increasing and decreasing in thousands and lakhs of rupees.
You can take help of Google to see the current price of bitcoins. Meaning search in google - '1 Bitcoin price in Inr'
Use of bitcoin
It is used as online payment transactions. It works on peer-to-peer network ie any person can easily transfer bitcoin without any bank, credit card or company.
It can also be used like any other online currency transaction. The online payment process of Bitcoins is very easy. Because no company or government or bank has any right on this currency. Its records are kept in the public ledger (accounts). Which is called 'Blockchain'.
The whole world is using it. Like online developers, organizations, entrepreneurs etc. and for this reason it has become the global payment method of the whole world. A bitcoin wallet is used for the transaction of bitcoins.
What is a bitcoin wallet?
Bitcoin wallet is also an electronically wallet like other paytm wallet and phone pay wallet etc. It also has different types, such as desktop wallet, mobile wallet, online and hardware wallet etc. Here we can create our account with Unique ID.
How to Buy and Invest in Bitcoin?
Buying and selling bitcoins is very easy. You can use the website or mobile app for this. It is like any other online payment app or website. Two companies are popular for buying and selling bitcoin in India.
1. Zebpay.com
2. Unocoin.com
Documents Required to Invest in Bitcoin
Do you want to invest money in bitcoin, then you have to create an account first and for this the following documents will be required –
1. Aadhaar card no.
2. Voter id card no.
3. Pan card no.
4. Phone number
5. Bank Account Details
Follow the following steps to invest in bitcoin
1. Signup in App or Website
You can choose any of the above two companies (zebpay.com or unocoin.com). You have to go to their app or website and register your mobile number.
2. Details and Documents
In the second step, you have to scan and upload all the above documents online and after 24 hours you will be informed through mobile message or email.
3. Bank Account
In the third step, you have to link your bitcoin account with your bank account. There is no danger in this. It is absolutely safe. However, to buy bitcoins, you have to put up to 1000 rupees in your bitcoin account. With which you can buy bitcoin.
4. Buying Bitcoin
In this last step you can buy bitcoins with your deposit money. As soon as you click on bitcoin, your deposited money will be converted into bitcoin.
How to invest in bitcoin?
Through the above steps, you can buy bitcoins by investing money and also sell these bitcoins on the same website. After this you can send your money directly to the bank by clicking on withdraw. There are many ways to earn money from bitcoin. like -
1. In the first way you have to buy bitcoin. Although their price can be anything. For example, 1 bitcoin = $999, although we usually do not buy such bitcoins, then you can also buy the smallest unit of bitcoin “Satoshi” (1 bitcoin = 100 million satoshi like 1 rupee = 100 paise). You can collect Satoshi slowly. When the price of bitcoin will increase then you can earn profit by selling these bitcoins.
2. In another way, you can also earn bitcoin by selling goods online. Meaning instead of taking money from the buyer, take bitcoins and store them in your wallet and sell them when the price of bitcoin increases.
3.The third way is bitcoin mining. For which high speed processor is required. So the above methods are more suitable for you.
Note: Bitcoin comes to the market only through bitcoin mining. And it is made within a certain limit.
Where to use bitcoin?
- Online Shopping (International),
- in money transactions,
- to buy and sell,
- As online earning etc.
What are the advantages and disadvantages of bitcoin?
Benefits of Bitcoin
1. Transaction fees are low.
2. This currency runs all over the world.
3. Bitcoin cannot block our account for any reason.
4. If you invest in bitcoin for a long time, then you will get a lot of profit according to the record.
5. There is no right of any government, company or authority on this.
Harm of Bitcoin
1. Due to not being the authority of any government or company, it is a bit risky.
2. If all bitcoins are stolen by hacking your account then no one will be responsible for you.
3. Bitcoin has its ups and downs.
So friends, this article was about what is bitcoin, how to buy it, what is bitcoin, how to buy bitcoin in Hindi, bitcoin in india. Comment if you liked this article. Share with your friends and colleagues also.
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