5 Things to know Before Investing in Bitcoin

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Important points to know about bitcoin

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5 Things to know Before Investing in Bitcoin

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INTRODUCTION What is Bitcoin technology Bitcoin is a cryptocurrency a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

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1.Why Invest in Bitcoin As new gold is mined gold is present in limited quantity and it is harder and more expansive to find and mine. This same is with Bitcoin There are only 21 million Bitcoin and day by day it become harder to mine Bitcoin can be sent anywhere around the world .No banks can block payments or close your account.

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2.Bitcoin’s Price There is no official bitcoin price. Bitcoin price are set by whatever people are willing to pay. Bitcoin’s price is generally shown as price of one bitcoin. However exchanges will let you buy any amount and you can buy less than one bitcoin.

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3.When is the right time to buy As with any market nothing is for sure. Global chaos is generally seen as beneficial to Bitcoin’s price since Bitcoin is apolitical and sits outside the control or influence of any particulate government. When thinking about how economics and politics will affect Bitcoin’s price it’s important to think on a global scale and not just about what’s happening in a single country.

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4.How to Invest in Bitcoins and Where to Buy The difficulty of buying bitcoins depends on your country. Developed countries have more options and more liquidity. Coinbase is the world’s largest bitcoin broker and available in the United States UK Canada Singapore and most of Europe. You can use our exchange finderto find a place to buy bitcoins in your country.

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5. India banned Bitcoin Finance minister Arun Jaitley in his budget speech on 1 February 2018 stated that the government will do everything to discontinue the use of bitcoin and other virtual currencies in India for criminal uses. He reiterated that India does not recognise them as legal tender and will instead encourage blockchain technology in payment systems.

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Conclusion Bitcoins can be helpful to a lot of people. Since they are an international currency you can use them in any country without having to convert between currencies. The Blockchain is really secure and it lets you make sure your money goes to/comes from the right person. People receiving Bitcoins wont have to pay anything for the transactions and Bitcoins have a lot of support. All of these will definitely help Bitcoin get more users and if everyone uses Bitcoin it could replace official currencies. REGARDS: TECHNOLOGY MOON

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