What Is Bitcoin - Understand All Concepts - All About Business


Friday, May 22, 2020

What Is Bitcoin - Understand All Concepts

What Is Bitcoin - Understand All Concepts

What is Bitcoin? Bitcoin is a most popular digital currency in today, who doesn't know bitcoin in today's date, but there are very few people who don't know everything about it, what is actually a bitcoin?

Where it is stored? if you want know how Bitcoin works, about its algorithm, to understand why it is important in today's date, There are many people who are not fully aware of it. 

Bitcoins full case study about bitcoins
Bitcoins full case study about bitcoins

Bitcoin is a digital currency having high risk with highest return policy. if you see bitcoin graph there is more than twenty five percents of price fluctuation, what does it means it is highly risky investment. 

Now we will discuss about the questions what is on your mind but you do not know its answer, everyone should know it,

Is bitcoin good for investment or not?

→ It is a digital currency having more than 25% of price fluctuation everyday with an unknown algorithm having high risk. its depends on you that you are risk taker then you can invest in bitcoin. 

Yes, it is good for investment because it is a independent currency where you can transfer it directly with having any system in between. 

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How bitcoin works?

→It is a unknown fact nobody knows how bitcoins value increases or decreases, it does not have government involvement in it, it is a digital currency that is digitally stored. peoples are buying it just because many are buying this nothing actually reasons behind that. 

Many big investors says it is a deception to trick people, when it stops, can't say anything. because bitcoin don't have any foundation, don't have any government involvement, This can't be done much time. 

Bitcoin started in year 2009 as a exchange type currency, After that it became an investment. This cannot become an actual investment because there is no basis for it. in bitcoin there is no calculation of it how it is growing.

Father of value investing Benjamin graham states - They had defined such currencies very early in the year, such a currency will be deceived because it has no base, it cannot be called an investment.

How You get Bitcoins?

→It is very simple, many mobile apps and website are available in market that gives you option to buy or sell bitcoin. like
websites- localbitcoin.com buy or sell bitcoin  just click on it. its very genuine website.

Can You convert bitcoin into cash?

→ Yes, it is very simple to convert your bitcoin into cash, just go to website or app from where you bought your bitcoin sell it, after selling you money automatically transferred into your account.

Can you loose money in bitcoin?

→Yes you can loose money in bitcoin, because bitcoin price fluctuation is more than 25% a day if you bought it and price decreased you can loose your money.

Bitcoin is legal or not?

→No, bitcoin is not legal.

Who gets the money when you buy the bitcoins?

→Its working like a transferable currency, if you buy it from someone he get the money or if you sell it, you get the money.

Can bitcoin make you rich?

→ Yes, its depends on your investments how much you are investing in it and withdraw your investment profit before it get decreased.

How can You get bitcoins instantly?

→Just open website, create your account and buy it, instantly you get bitcoins. buy bitcoin instantly.

Is anyone got rich from bitcoin?

→ Erik finman, he bought bitcoins in 2011 and now he has 467 bitcoins. he has been youngest millionaire from bitcoin.

difference between bitcoin investments and other investments,

Bitcoin investments- price decreases or increases very fast for this investment purpose it is not considered as actual investment. bitcoin is available on these marketplaces where nobody gives you guarantee how much long it will available in market, and how much long time you can invest your money in that. 

This currency investment is good for only that type of peoples who have a lot money at home and those who believe that the money should be profitable is good and if it is lost, then we do not mind.

Other investments- like gold, shares bonds fix deposits this investment sources are considered as actual investments, because in these investments everybody knows when how my money will get doubled or so much as per investments.

It is a very slow process but working and guaranteed you will receive your money that date when it matured or its ups and down.

If you want to invest your money in bitcoin the best website is -

You can click on it and start investing, it is very genuine website giving you option of systematic purchase plan.

systematic purchase plan- in simple way to describe this plan is you can invest your money in systematic way. 

What does that mean?

 It means this plan gives you option that you can invest your money weekly as per your weekly savings and invest it for one year or three years after that investments you'll get the money by rate what is after three years it is slowly or fast.

As per bitcoin growth speed your money will get increase and you can sell it what is difference between your investment and your selling price that will be considered as your profit, using this systematic purchase plan risk is low only one time in every week you have to invest in it. this Website that providing you this service.  

major countries where bitcoin is legal, 

South Africa  -   Bitcoin is legal.

United states  -   Bitcoin is legal.

Mexico          -    Bitcoin is legal.

Russia            -   Bitcoin is legal.

India              -   As per RBI it is a cryptocurrency and it is legal 
                           but nor government not banks are involved in 
                           it only buyer and seller is responsible for loss 
                           and profit.

China             -   In china it is considered as cryptocurrency and it 
                           is legal, but banking is not involved in it 
                           only  buyer and seller is responsible for loss 
                           and profit.

Hong Kong      - Bitcoin is legal.

south Korea    -  Bitcoin is legal

japan               -  Bitcoin is legal

These are the major countries where bitcoin is legal as per consideration of cryptocurrency.

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