What is bitcoin? How does bitcoin work? How to buy bitcoin? With how much money can I invest in Bitcoin? Friends, in today’s article, I am going to give you complete information about bitcoin, after reading this article, all the doubts related to bitcoin going on in your mind will be clear.
For the time being, I have just given you complete information about cryptocurrencies in the previous article. Before knowing bitcoin, you should have complete knowledge about cryptocurrency.
Bitcoin is a cryptocurrency. Which is a very popular cryptocurrency at the moment. You will be surprised to know the price of one bitcoin, right now the real-time is 28 lakh 80 thousand rupees in June 2021.
Not only this, its price had reached Rs 50 lakh in May. But only one tweet from Tesla company owner Elon Musk has reduced the bitcoin make price by almost 46%.
Now is still a great time to invest in bitcoin cryptocurrency. The cheaters know how and where to invest in bitcoin without wasting time. Before that let us know what is bitcoin?
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What is Bitcoin?
Bitcoin is a digital cryptocurrency that does not exist in reality. It is a cryptocurrency because it is calculated with the help of a cryptography platform.
It is also called the future of cryptocurrency as it is the most popular cryptocurrency among all cryptocurrencies. It was first coined by a Japanese engineer Satoshi Nakamoto in 2009.
When it was first made it cost $0.1 at that time. Whose in today’s time, the price in Indian rupees is 7 rupees 30 paise.
But gradually its market increased and today the price of one bitcoin is about 29 lakh rupees. Its scope is gradually increasing.
What is Satoshi?
You must have heard and seen many people called Satoshi or about the word Satoshi on the Internet. Satoshi is a small part of bitcoin.
Yes, some people may not have understood anything about it. Let us understand the meaning of the word Satoshi through an example.
Have you heard the name Rs? I understand that at this time a lot of questions must be arising in your mind that if we stay in India, we will not know about the rupee? If I ask what is money? So all of you will tell that the hundredth part of a rupee is called paisa. Meaning that 100 paisa together makes one rupee.
Just as 100 paise together make one rupee, similarly 100 satoshis make one bitcoin. Meaning that the one-hundredth part of bitcoin is called 1 satoshi.
I hope you have a good understanding of Satoshi. Once again I will say that the one-hundredth part of bitcoin is called a satoshi.
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What are the advantages of Bitcoin?
- Bitcoin is a very popular cryptocurrency. Investing in this is very safe and secure. If you had bought 500-1000 bitcoins even 7-8 years ago, you would be a millionaire today.
- Bitcoin is one of the fastest-growing cryptocurrencies. Right now the price of one bitcoin is more than 28 lakh rupees. If you invest money in it, you have more chance of making a profit.
- You can do transactions on bitcoin very easily. Because no big authority or government has an eye on it.
Disadvantages of Bitcoin
There are not many disadvantages of bitcoin. But it is your responsibility to invest carefully.
- Invest little money in bitcoin. Because in this daily big and small fluctuations are seen. Meaning that sometimes it increases a lot and sometimes its price becomes less than the limit. So don’t take tension in price fluctuations.
Where to buy bitcoin?
There are many platforms available on the internet from where you can buy bitcoin very easily. Below I have told you about the top 5 best applications. From where you can buy very easily.
How to buy bitcoin?
With how much money can I invest in bitcoin?
You can start investing in bitcoin with 100 rupees. The minimum is Rs 100 and you can buy bitcoin at a time up to Rs 2 lakh 50 thousand.
It is not necessary that 1 bitcoin has to be bought at a time. You can also buy Satoshi in small bits of bitcoin. Some people will say that from where will you bring so much money at once. So let me tell you that you can invest in bitcoin with less than 100 rupees.
I hope you have completely understood this article “What is bitcoin and how to buy bitcoin”.
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