What In The World Is Bitcoin?

Well, who doesn't want to make money in a short period of time? Many people resort or think about the traditional stock market when it comes to investment. People usually invest in commodities like gold, silver, or stocks. However, the cryptocurrency domain was at its peak when $300 invested in one Bitcoin in November 2015, becomes a whopping $19000 in December 2017. This price surge spurred lots of overnight millionaires who owned a few bitcoins prior to that. Do you want to be next one in this list of millionaires? Then you probably need some background air of the most popular cryptocurrency. Below are a few intriguing facts you must know about Bitcoin.

1. Bitcoin doesn't have any Central point of administration and is decentralized digital currency managed by its stakeholders.

2. The inventor of Bitcoin, supposedly "Satoshi Nakamoto" attracts a lot of conspiracy theories around him. He feels that his revelation would tamper the decentralized nature of Bitcoin. This identity is crucial because the inventor of Bitcoin might be in the list of the top billionaires in the world keeping the current Bitcoin price in mind.

3. Bitcoin can be considered as the world's first global currency, irrespective of the geographical domain one lives in.

4. Bitcoins can be bought online in highly simplistic manner through localbitcoins.com where various online payments are accepted in exchange for bitcoins. So hurry up, what are you waiting for! Who knows, you might be the next millionaire in the upcoming Bitcoin surge.

5. How can I be so sure that Bitcoin prices will experience an uptrend? Bitcoin has a very scarce amount of supply throughout the world. Hence, its value is bound to increase on a long-term basis.

6. In India, bitcoins are not considered a legal tender but one can make investments and gain profits out of it. Ironically, the Income Tax Department of the country have included them for taxation.

7. You’all can easily resort to buy or sell bitcoins true Indian exchanges like BitBNS, Koinex, Wazirx, etc. However, localbitcoins.com remains one of the fastest ways to buy bitcoins surpassing regulations.

8. Bitcoin is a digital currency, hence one need not worry about its physical safety. However, the private key which is analogous to password must be remembered. Otherwise, all your bitcoins might be lost forever. Don't get paradoxial due to the image of a Bit'coin' above, it just does'nt exist.

9. It is the best option for day trading, as the Bitcoin price has increased by almost $3,000 in the past single month. Buy bitcoins when prices are low and simply sell them when high. There are certainly least chances of losses if you observe the trend of the price on a daily basis.

10. Last but not least, Bitcoin is the king of the crypto domain due to its appealing characteristics.

Now, since you have attained some consciousness regarding bitcoins, feel free to buy some and maybe holding them as a long term investment. Keep calm, even if the current price is 5,64,272.12 INR per Bitcoin, the respective fraction of Bitcoin can be bought for as much as 100 INR.