What is Bitcoin? | How to Buy Bitcoin Easily? Make Good Bitcoin Portfolio!

byRahul Kumar

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If you invested 1,000 rupees one year ago in nifty or Sensex you would right now having roughly about 2,000 rupees, similarly, if you would have invested 1,000 rupees into bitcoin about one year ago you would now be sitting at about 12,000 rupees isn't it that crazy.

What is Bitcoin? | How to Buy Bitcoin Easily? Make A Good Bitcoin Portfolio!

Today in this article I will be talking about how to invest in bitcoin and why do you invest in bitcoin I will also be trying to clear some myths about bitcoin and answer some questions which are generally asked by people.

Like, what if it gets banned?, how to invest in bitcoin?, is bitcoin a good investment?, Minimum Bitcoin Investment. and all these questions which are generally asked by the people.

Now The Two Most Important Things To Understand Here Are:

1. Bitcoin is quite volatile so you must do your own research don't do it just because I am suggesting it.

2. I am not a financial advisor, here I only share my sharing my knowledge and experience.

So keeping all the things aside, Now let's talk about why do you believe in bitcoin and why people are investing in bitcoin?

So just understand one thing most people think that there is not a hundred percent (100% ) transparency in the banking system that we have right now. There have been so many instances in which we have found inconsistencies there have been some huge scams you know if we talk about a specific country like India then we have the Nirav Modi Scam, Vijay Mallya Scam and there are tons and tons of these.

All these such cases happen because the banking system that we have right now is prone to human greed, here many officials can be bribed, and then some shady stuff can happen without you even knowing it.

So now the question is arises, why I invest in bitcoin? | Is bitcoin a good investment?

A Cryptocurrency is a smart investment for you. It will depend on your risk tolerance and your investing style.

Think about how you would react if your investments in cryptocurrency fell by 20% in just one night. What if it dropped by 50%? What about 80%? If you know you'd either lose sleep or panic-sell your investments in any of these scenarios, cryptocurrencies may not be the best fit for your investing style. Although the opposite of the above mentioned scenario is also possible.

Now let's talk about Bitcoin, so Bitcoin is limited in quantity there are only 21 million bitcoins in total out of this about 18.6 million bitcoins are mined so far and basically, the thing that is limited has value right.

Let's take an example of why does gold has value?

Because It is limited and every single year we can predict that about one percent more gold will be mined or two percent gold will be mined something similar we can do with bitcoin and so there is no central authority that can just print x amount of bitcoin out of thin air right so that's what you need to understand about bitcoin it is limited in quantity and it is decentralized and basically if you want to make some changes into bitcoin there has to be a general consensus so more than 50 percent population agrees on to changing something in bitcoin only then it will be changed, so it's actually the currency that is for the people by the people.

That's the interesting part about bitcoin that's why I am interested in it. I just want to say that I have researched a lot about bitcoin and that is why I am sharing my experience in it, you should also do some research before you do anything in bitcoin.

As it is a highly volatile asset. Now let's talk about the bitcoin ban in india so many people thinks that the ban going to happen, but basically no one know about the ban on bitcoin in india although there are some bills was passed in the parliament and we still don't know what the end result is going to be there are discussions going on but the news articles have done a really bad job of saying that bitcoin is banned take your money out of the cryptocurrencies and all that is not the truth.

Yes there is a bill but it has not been finalized yet, so that's what you should understand don't get fooled by these news articles and all that don't sell just because you've heard some rumors now one more question people had is that bitcoin is so expensive how can i buy it? | What Is The Minimum Bitcoin Investment?

So, You can invest for as little as 300 rupees you don't have to invest like 1 lakh rupees in just one go, now understand this one thing even though i have researched about it i only invest about two to five percent of what i normally invest so that's what i do i am a believer into it that is why i invest but i don't go all in saying that okay i'll invest 100% of my imvestment money into this no that's not what i do.

Now bitcoin is highly volatile so if you don't like let's say you put in a thousand rupees today and tomorrow it goes down to let's say 500 rupees and if you go crazy by just seeing that you should not invest into bitcoin it is highly volatile anything can happen, yes we do have a lot of companies that are buying into bitcoin like tesla and other ones but it is still quite volatile so that's just one thing to keep in mind do not you know keep checking the market price of bitcoin and be afraid of what is going to happen next and all if you believe in it you should hold it for as long as you can.

Now one thing to understand is that why do people say that bitcoin is going to 500, 000 currently the price is about 60 000 us dollars and that is about 45 lakh 44 lakh rupees in INR people believe that it is going to go to 500 000 now to understand this think about it like this so you have gold right, so gold has a total market cap at about 10 trillion dollars or about 12 trillion dollars now bitcoin on the other hand has about a market cap of i think 1.2 trillion dollars the last time i checked and we believe that bitcoin is superior than gold.

Bitcoin is the digital gold and it is superior to gold so we can say that in the future it can touch 12 trillion dollar market cap, we don't know when that happens we don't know if that happens but we have an estimation that it might happen so now what happens is that for bitcoin to become 10x more valuable it has to go from 60 000 rupees or sixty thousand dollars per bitcoin all the way up to six hundred thousand USD per bitcoin or five hundred thousand USD per bitcoin.

Here at the bottom of this article i will be linking a lot of documentaries a lot of articles a lot of tweets that you can refer to if you want to learn more about bitcoin and ethereum.

Now let's talk about how do I invest in bitcoin? | how to invest in bitcoin in india, so this is really interesting i personally use wazirx this is not a sponsored post, I think it works i don't know if other platforms work or not but i know that this works really well for me.

If you want to make your own account on the wazirx exchange you can visit this link(https://wazirx.com/) if you want to get started with that. But basically what you can do is that here you can see the prices of every single cryptocurrency out there.

Now i personally only invest in bitcoin & ethereum mainly because i don't have knowledge about other cryptocurrencies i am learning about it and that's what i would say.

I invest in these currencies to invest for the long term not for the short term i don't want to do trading or something like that, i invest and i just forget about it and also i do an sip into cryptocurrency so basically every single month i just put in some amount of rupees into all of them. I'll invest 50 percent into bitcoin 50 into ethereum.

I have learned a lot in this process and you should also do your own research before investing as always all right guys that's pretty much it this was the post.

Make sure that you subscribe to our blog and let me know in the comment section what do you think about Bitcoin & Is bitcoin a good investment for you.

Overview about How To Invest In Bitcoin And Make Money: