How to buy Bitcoin?
In this article, you will know what is Bitcoin, how to purchase bitcoin and best app for cryptocurrencies etc. Pros and cons of bitcoin or crypto is available too.
You might have heard about Bitcoin or other different Cryptocurrencies earlier or recently and few might have possibly traded them online or through an app. In this article, you will know what is Bitcoin, how to purchase bitcoin and the best app for cryptocurrencies etc. You can also take courses like the one created by Dchained for more in-depth lessons about Bitcoin.
In case if you are interested to know about cryptocurrencies or bitcoin or other coins or how to trade them etc. then read this article for basic guideline and steps.
Some countries consider it legal and Few of them are not. Few countries have re-considered it as legal since its purchase is done via already existing money in the bank account record, following the guideline, regulatory and discipline etc.What is Bitcoin?
It is the largest cryptocurrency or a digital currency that became popular for few years. The subject coin system was invented by an anonymous personality called Satoshi Nakamoto in 2009.
The digital or Bitcoin uses through a decentralized ledger system known as a blockchain and this could be one of the reasons few countries consider it as illegal until and unless it goes through proper channel with the centralized system or accountability with the Government.
After Bitcoin's popularity, many more different cryptocurrencies (like Ethereum, Litecoin, Tron and Ripple etc.) released by different personalities or organizations. They too become more popular due to easy for the buyer to invest less amount in their unit compare to bitcoin unit value.
How to buy Bitcoin?
You need to first cross-check whether your country allows you for such trades online? Whether you abide by the law of your country in buying or selling any cryptocurrencies? Different country comes with different rules on this time to time. So, we need to get the info about it before investing in them.
In India, we get time to time update on this as well. You can also check the following thread for more detail https://news.bitcoin.com/bitcoin-legal-india-supreme-court-verdict-cryptocurrency/
You would get a similar time-to-time update for your country as well.
In case if you are willing to buy a Bitcoin then you also need to know its value at the moment. One bitcoin value in the dollar today is $18,761.80. Likewise, INR 13,88,443.47 (on November 21, 2020).
Another option is if you prefer to buy Bitcoin, then, Bitcoin has unit value, or 0.00000001 bitcoin is called a satoshi and you can try it.
Also, you can buy another cryptocurrency (listed above) available online and its value could be around INR 100+.Which app is best for buying cryptocurrency?
In India, we have a few popular apps to download and sign up to use for the crypto trade. The following app would help you with the digital currency trade.
Unocoin
ZebPay
Coinbase
Different countries have different apps that suit their entire requirement like Bank, PAN, Currency exchange and on. All such app may not suitable for you to deal with from your country. So, make sure about it before downloading and using it.
Bitcoin Pros / Cons:
It is similar to a different company's share value.
Each coin value might increase or decrease every minute.
Do not invest hugely.
Learn with less investment to learn about it.
Patience too required once invested.
Different scheme and level or block or unit available.
Hope the above info helped you for learning about the cryptocurrency trade.
Follow
When Bitcoin was first introduced there was a craze for it. The idea was unique and appealed to cash-rich investors. In the initial phase, its value shot up and its price increased to the delight of the investors. The surprising and strange thing about this Bitcoin is that there is no Govt which controls it. No bank owns it. Everything is on the internet under a secured and safe protocol as invented and designed by its founders. In the beginning, mining of Bitcoins was comparatively easier using a computer method but as the total quantity of Bitcoins which can be generated has a Mathematical cap, its generation becomes more and more difficult and complex with time and the only way to acquire it is by buying from the exchanges which are functioning on the internet for it. No one understands the exact mechanism in which all these transactions are being carried out in the web without any Govt or individual control but people have fancy for it and though it is considered a high risk investment, there are people who have invested heavily in it to make a fortune when its value increases significantly. One should be very careful in taking a decision to invest in Bitcoin or in similar online currencies as there is a danger of hacking or fraud of a very high order in such uncontrolled investment avenues.