Bitcoin is the world’s largest cryptocurrency market which uses a decentralized ledger system known as the blockchain. Bitcoins are crypto coins or crypto cash that has quite a high value depending upon the share of the company. Now a day’s Bitcoins are trendy topics to talk about, but they are still not guaranteed by the law or some organization. Bitcoin isn’t just about crypto but also online marketing and investment. Bitcoins might be safe to invest if you have a lot of money and won’t be affected by the loss of the invested money, but it might be risky for those who have a limited amount of money and just can’t afford the loss, as they are not certified or guaranteed. Bitcoins have quite an attractive value which doesn’t mean one must go rushing towards it to invest. Before investing in anything whether share, bonds, currency, property or crypto money one must learn as much as possible about it.
BTC to INR
In April 2020 the exchange rate of 1 btc to inr is 525220 rupees. As in India bitcoin trading is considered illegal so there are no banking institutions that trade in bitcoin. So, many exchange websites are trading in bitcoin in India. Bitcoin has been criticized for its use in illegal transactions, its high electricity consumption, price volatility, and thefts from exchanges. Some economists, including several Nobel laureates, have characterized it as a speculative bubble. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin. Not to forget, India is one of the largest remittance markets with a total value of more than $70 billion. On this, a user usually pays up to 15% in bank charges and conversion fees. This is where Bitcoin’s true potential lies.