Bitcoin has emerged as the most accepted and acknowledged crypto asset. It was created in 2008 after the disastrous financial crisis with a mission to stamp out the middleman. The digital asset soon took the financial market by storm. People were very sceptical about the newly launched virtual currency but were gradually convinced about the same. It was not only accepted but welcomed by the financial world.
Indians had their first access to Bitcoin in 2013 and even though there was a lot of suspicion around the new decentralised private coin, the number of bitcoin holders Kept multiplying. There were various failed illogical attempts at getting the coin banned, but irrespective of that the Crypto market has flourished and seen a rapid growth.
Investing in Bitcoin:
Before 2020, trading in bitcoin seemed like an overlong job but since the supreme court has finally confirm. That there will be no ban on the private coins, the entire crypto market has seen a boom.Investing in BITCOIN has been everyone’s first thought when they think about crypto exchange.
Five reasons to invest in Bitcoin :
1. The first cryptocurrency:
Bitcoin enjoys the benefit of being the first crypto asset to be launch and the one which still holds the highest position in the market. It is the OG Crypto and has the advantage of standing out as the de facto cryptocurrency.
2. Accelerating adoption :
The global acceptance of Bitcoin is accelerating every passing hour. The data shows an increase from 47 million to 73 million wallet users. The past reports indicate that Its price has exploded over the last 12 months.
3. Profit earning opportunity :
It is like gold but much better. It can give you profits, interests and also returns. You can earn from It by selling it, holding it or staking it or lending it for interests. It is a win-win situation in all cases.
Future potential :
It has a massive future potential to grow and expand in the finance market. With it’s past growth and development, it can predicts that the world will soon be trading in cryptocurrency only. And Bitcoin’s as usual have ruled the crypto market.
Reliable and trustworthy :
It’s far more reliable than any other crypto asset. It is time and again prove’s by reports and customer base that Bitcoin is the most trustworthy asset. It is the undisputed kind when it comes to crypto assets.
How to invest in Bitcoin in India ?
Indians have always found investing in cryptocurrency a bit fishy but that has changed over the past 2 years when millions of Indians were recorded to trust their finances with the private coins.
You can invest in BITCOIN in the following ways :
CRYPTO EXCHANGE :
A cryptocurrency exchange platform helps you buy bitcoin anytime anywhere. You have to choose a crypto platform which deals with buying, selling or trading in India. Choose a crypto platform which is readily available to you, easy to navigate and trades in INR. You can also start by investing a small amount of money (INR 100-1000). Every platform charges a trading fee.
After choosing the appropriate crypto exchange platform, sign up on that website using the app. Do your KYC verification with your Personal and banking details. Add money to your digital wallet and check the Bitcoin prices. Place your trade order for your desirable amount.
In India, there are different crypto exchanges like Wazirx, CoinDCX, Giottus, Binance etc.
PEER-TO-PEER TRANSACTION :
If you don’t want to pay a trading fee or buy Bitcoin directly from the crypto platform, you can conduct the transaction from person to person. The crypto exchange platform acts as a mediator between the seller and you. The platform finds a seller who is interesting in selling you the same amount of Bitcoin that you are willing to buy. Once the seller find, the platform will help you close the transaction.
One P2P exchange is Local Bitcoin:
As easy as it may seem, the PEER-TO-PEER transaction is not that simple. It is pretty difficult to find a seller that wants to sell exactly what you need. The process is time consuming.