Simple Ways to Buy and Invest in Bitcoin
What is Bitcoin?
Bitcoin is a type of cryptocurrency. It is one of the first digital currencies to use peer-to-peer (P2P) technology to facilitate instant payments. It is a user as well as a tech friendly digital currency and thus public can access it easily. Nobody owns or controls Bitcoin.
Bitcoin is a digitalised currency that can be used for making instantaneous payments. It is being termed as a global currency because it is facilitating easy and cheap international payments. There are no regulations or taxes associated with it as no central authority is controlling or governing bitcoin. Thus, due to the discreteness of the currency many individuals are also purchasing bitcoin as an investment expecting higher returns in future.
Why is Bitcoin becoming popular?
Bitcoin is gaining popularity due to certain benefits of the cryptocurrency over the traditional modes of payment. It ensures complete anonymity of transactions that enables user satisfaction and convenience. It also provides its users ease of monitoring their transactions by viewing their ledger or transaction summary on their personal computers or mobile phones. Thus, due to its very nature of easy, safer and securer transactions bitcoin is gaining popularity and momentum.
How to Buy Bitcoin?
The steps involved in the buying process of bitcoin are:
Find A Bitcoin Wallet
Deposit an amount
Using Bitcoin for transaction purposes
Need of senders/receivers addresses/ QR code
Send/ Receive Bitcoins
Here’s a list of the top-most Bitcoin Exchanges in India: