Why is Bitcoin so popular among the Investors?

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What is Bitcoin & why is it so popular?




Dear Readers,

There are many popular paper currencies like Indian rupees Yen Euros Dollars, Dinars but today I am going to tell you about a cryptocurrency which is a perfect example of how the world economy has become digital. Yes, the most popular Bitcoin currency has become popular among investors for a long time. Let's just start from the beginning.

What is Bitcoin?


Bitcoin is a digital or virtual cryptocurrency that cannot be touched or seen but it is electronically stored in your phone, computer or any secured storage location of a media device. 

 This virtual currency was launched in 2009 by an anonymous person who used alias name as Mr. Santoshi Nakamoto. The idea was to provide a cheaper, quicker and easier transactions by which you can get rid of bank statements Credit card, Debit cards and other banking intermediaries by inventing a digital cryptocurrency.

Benefits of using a Bitcoin

Bitcoins are one of the most secure cryptocurrencies that have its benefits like secure transactions. ‘Crypto’ means Coding i.e. A person who wants to have a Bitcoin must have a digital wallet first. To make a bitcoin transfer from one person to another the sender has to use the private key which signifies the digital signature & the public key along with the details on the online servers of Bitcoins. Then the people who are called ‘miners’ help to find out that the transaction was secure and they ensure it by encrypting a code on a transaction. These miners are the people who spent lots of money on high-tech secure servers just to be the first in securing Bitcoin transactions. The reason behind doing this is after securing every transaction by coding the miners get rewarded by some amount of Bitcoins. 

In India the central bank of India RBI declared absolute ban on bitcoin purchasing & selling. Because of such restrictions from some countries the value of bitcoin has decreased. In India the price of one bitcoin was equal to 722101.04 Indian rupees in October 2019 which has now decreased to 5,29,380.18 Indian rupees. 

 1 Bitcoin is equal to 7,355.79 USdollars

High risk & High Returns

Bitcoin is one of the popular CryptoCurrencies that contains patterns of high risk and high return which is why it is very much popular among high-end investors. Bitcoin value can rise or fall anytime.

Secured by 'Miners'


Bitcoins are virtual money that is vulnerable to hacking as they are a part of virtual currencies that are stored digitally in media devices. There are no third party or banking/government agencies involved in the circulations of these money called Bitcoins. If the Bitcoins are hacked then there is no chance of recovery from the loss of the money & no one can be held responsible for this. 
The people who want to deal with this kind of money should have strong and stringent server security protocols which is why nowadays some agencies provide security protocols for the transactions on the Bitcoins.

Free Transactions:

While making transactions by using other traditional currencies like Rupees, Dollars containing paper and coins, there are restrictions from third-party websites to indulge into a secure online transaction that provides restrictions on banks wherein you cannot withdraw a certain amount of money in limits as decided by the authorities. However, in Bitcoin transactions, there is no third party or banking agencies involved and hence there is no limit on transactions.

How to get Bitcoins?


General ways of getting Bitcoins.

1. You can buy Bitcoins directly with its existing value of paper money.
2. You can sell something you have worth of the price value of a Bitcoin.
3. Become a miner for securing Bitcoin transactions online (Very Expensive thing to do)


    Guide to buy bitcoins with cash:

    • Find a seller  who accepts cash.
    • Select amount of coins 
    • Place an order.
    • Receive account number from the seller.
    • Deposit cash into the seller's account.
    • Upload your receipt as a proof of transaction (deposit/trade).
    • Congratulate yourselves on receiving bitcoins!

    Bitcoin Cash & Bitcoin SV




    In 2017, Bitcoin cash was subsequently divided into Bitcoin Cash & Bitcoin SV. 

    Bitcoin cash (BCH) is also known as Bcash. BCH is the better version or a fork of Bitcoin. When compared to Bitcoins, BCH has low transaction fees, speedy transactions and it has its Own BCH worldwide community. BCH increases the size of Blocks that allows a speedy transactions. 

    In 2018 Bitcoin SV(Bitcoin Satoshi Vision was created in honour of the anonymous person's vision who used Mr.Satoshi Nakamoto for creating Bitcoin


    Currently, 21 million Bitcoins are only available in this world, which is why its value is increasing day by day. Finally, if you ask me, I would recommend this currency to people who can bear the fluctuations in the market value of Bitcoins.




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