Now days knowing about What are Bitcoins? How to Invest Bitcoins? Search or Check the latest Price of Bitcoins in India are trending things. You can’t touch Bitcoin but feel it. It is a virtual currency. It can be digitally stored only.
Can I Purchase Service or Product Using Bitcoin?
Yes! You can purchase service or product etc. things by using Bitcoin but it doesn’t have any physical appearance.
Invest Bitcoins in India is good idea because you can convert them into real currency and you can purchase or use them at only those places where they are accepted. It is also known as the best internet money.
Bitcoins and its Origin :
bitcoin is a digital currency which doesn’t have any physical appearance. But if we talk about its category it will fall in the category of cryptocurrency. Cryptocurrency means the currency which originates through cryptography (a type of coding language).
Bitcoins was Launched as a currency in the year 2009 with the price of 20 paisa per Bitcoin. It was founded by a person named Satoshi Nakamoto.
But no one knows where is that person and will he actually exist. Upon some researches on the internet I found that Satoshi Nakamoto was not a person, actually it is a group of 4 companies name Samsung, Toshiba Nakamichi and Motorola. (It May be wrong !)
In India the price of Bitcoin is Rs 975000+ (600 % increase last 4 month) per Bitcoin. But it is fluctuate due to demand and supply. If demand rises the price of bitcoin rises but if demand decreases the price of bitcoin decreases.
As paisa is smallest unit of Rupee same as the smallest unit of bitcoin is Satoshi. One Bitcoin has 100000000 Satoshis.
Is it safe to invest in Bitcoin?
Investment in any crypto currency is niether risk free. But if you have some knowledge about it then you can earn a very good profit from it. I self earn Rs 3000 per day from it sometimes.
It all depends on your knowledge. If you think that in future bitcoins price will rise then you should invest in them. But if your prediction becomes wrong then you can bear a great loss..
So how you can know that is it right time to invest in bitcoin. I will tell you.. The current average price of bitcoin is nearly rs 70000 to 782000 ( only for 1-2 days). So if you find the price is lower then 180000 then you should buy it. If the price is more then 182000 then you should wait for its price fall.
(Note:- the above price is for short term profit means you can earn 1000-2000 rs in 3-4 days if you follow above price range)but if you want profit for long term then you can invest any time. Because some of its experts told that in 2020 its price will be go far of rs 300000.
Invest Bitcoins :
Their are many wallets and Websites through which you can purchase and invest in them. But many of them are Fake and fraud.
There is only 2 best & trusted wallet for bitcoin transaction:
1. Unocoin | India’s Bitcoin Company
> Enter your Email, Password and Enter Referral Code as U73554 for get best offer.
> Unocoin Coupon Code : UNOWEEK200 / FBA200 / TTA200 / UNO200 / FBE200 / TTC200
Simple Bitcoin Profit Idea
Lets assume i purchase bitcoin at the rate of rs190693 per bitcoin and its selling price is 185999 per bitcoin (remember this difference between buying and selling price is varies per wallet… it is the price through which these wallet companies makes profit).
But after some days due to increasing demand its selling price rose by rs 100000.Means now i can sell my 1 bitcoin at the rate of 285998. So i purchase the bitcoin at rs190693 when its selling price was 185999 but now the selling price was 285999… that’s way i make profit of rs 100000. Similarly you can get loss if situation is vice versa.
We only say that the investment in bitcoin is not risk free but if you have some knowledge about it then you can earn huge profit. Good Luck!