In 9 years, Bitcoin gave seven and a half million times returns. A bitcoin price has crossed the $ 4000 mark. Read Bitcoin Investment in India: An investment of 100 rupees in bitcoin could have made you the owner of 7.5 crores
If you had invested 100 rupees in bitcoin 9 years ago, today you would have been the owner of 7.5 crores rupees. The investment in bitcoin in 2009 has been nearly seven and a half million times.
When this currency came into circulation in 2009, the value of one bitcoin was about 36 paise. Today, the price of one bitcoin has crossed Rs. 4000, ie, about 2.70 lakh rupees. On Monday, this world's most expensive currency reached a record high of $ 4200.
Prices climbed 300% this year:
So far this year, there has been a jump of about 300 percent in bitcoin prices. Earlier this year, the price of one bitcoin was less than 1000 US dollars.
So far in the month of August, the price of bitcoin has jumped about 47%. According to Angel Broking Deputy Vice President (Commodity and Currency) Anuj Gupta, the software related to bitcoin has been upgraded.
It is believed that this will increase the speed of transactions in bitcoin currency. Apart from this, increased tensions between North Korea and the US have increased safe investment in bitcoin.
Apart from gold, global investors are also increasing investment in bitcoin. US investment bank Goldman Sachs recently said in its note that there is a huge potential for growth in cryptocurrency, now it will be difficult to ignore.
What is Bitcoin?
Bitcoins are virtual currency. It can be used like other currencies like the dollar, rupee, or pound. Apart from online payment, it can also be exchanged in dollars and other currencies.
This currency came in the form of bitcoin in 2009. Today it is being used for global payment. There are also exchanges for the purchase and sale of bitcoins.
Bitcoin has become the world's most expensive currency in the world, in financial transactions, big businessmen, and many big companies around the world.
Currently, the online or market price of a bitcoin is more than about 2.69 lakh rupees. Transactions can be done without this bank through computer networks. At the same time, this currency is also kept in a digital wallet.
How does Bitcoin Work?
You can install bitcoin as a bitcoin wallet on your computer or mobile phone. This will create your first Bitcoin address and you can also create more than one address if needed.
Now you can give your bitcoin address to your friends. After this, you can take payment from them or you can also pay them.
Bitcoin is being used extensively in illegal businesses and is used extensively in black money, hawala, buying and selling of drugs, tax evasion, and terrorist activities.
The increasing use of bitcoin has woken up security agencies in countries around the world. The Reserve Bank or any other regulator in India has not given legal recognition to this virtual currency.
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Transactions in Bitcoins are happening in the Country:
The central government is currently not in a position to ban online transactions of virtual currencies like bitcoin. Discussions have been held several times within the government in this matter.
It is not possible to control the online buying and selling of such currency. However, the government has not yet taken any final decision on this. There are more than 90 virtual currencies in circulation in the world.
What is the Future of Cryptocurrency:
US investment bank Goldman Sachs said in a note sent to its customers last week that crypto currency cannot be ignored. There is a strong possibility of growth in it.
According to Amit Bhardwaj, the director of MCAP Crypto Currency, which is associated with the initial business in crypto currency in India, the future of crypto currency is much better.
If you have missed investing in bitcoin, then there are many more options to invest in crypto currency in the market.
For example, the current price of mCap is close to $ 2, in addition to the current price of Utherium crypto currency is $ 300. According to experts, the price of MCAP crypto currency is likely to cross $ 50 this year.