Updated – 04th May 2024
The digital revolution started by Bitcoin has moved beyond just a mere medium of exchange. And the reason for the successful trajectory of the cryptocurrency revolution, hands down, lies in the massive success of Bitcoin. A decade ago, in 2010, this would have been unbelievable when 1 Bitcoin price in India was just a mere Rs 2.85.
Bitcoin’s Price in India has seen a massive jump. As of Sept 2021, 1 Bitcoin’s price in India is nearly Rs 35 lakhs. Seeing the favourable market trends, there are strong indications of Bitcoin price scaling even further heights. The attractive trajectory of Bitcoin price in India successfully establishes it as a lucrative mode of investment. Use the Bitcoin price calculator above to estimate your potential holdings based on your funds.
Bitcoin is popularly recognized as the face of the cryptocurrency revolution. It is the first new-generation cryptocurrency that was launched in 2009. While a unit of the currency is called ‘bitcoin’, the entire coin network is referred to as ‘Bitcoin’. It is the most popular and widely followed cryptocurrency in the crypto world.
What is Bitcoin?
Bitcoin (BTC) is a decentralized digital currency that works independently of banks or governments’ central authority or oversight. It is instead based on peer-to-peer software and cryptography.
Bitcoin was developed to allow people to send money over the internet. The digital currency was designed to be a non-centralized payment system that could be used the same way that existing currencies could.
All bitcoin transactions are recorded in a public ledger, and copies are kept on servers worldwide. Anyone with a spare computer can set up one of these servers, referred to as a node. Instead of relying on a central source of trust, like a bank, consensus on who owns which coins is achieved cryptographically among these nodes.
How Does Bitcoin work?
Bitcoin uses blockchain technology to operate. Blockchain is a network of blocks that hold data and require the users to solve complex mathematical problems to add every successive league. The new partnership created has the record of data stored by the previous block. Blockchain keeps all the transactional data on the public ledger immutable, which can be accessed by any member of the network. This makes Bitcoin a transparent currency medium.
How to Invest in Bitcoin?
Investing in Bitcoin entails purchasing Bitcoins through one of the numerous platforms accessible in India. There are various apps available now that make it incredibly simple to acquire and invest in Bitcoin. All you actually need is an account on a cryptocurrency exchange like WazirX.
WazirX apps display the current value of Bitcoin and other accessible cryptocurrencies, providing investors with information about the rates, growth, and fall of cryptocurrency value.
How to Buy and Sell Bitcoin in India?
Bitcoin cryptocurrency can be traded in India through a variety of platforms that provide Bitcoin purchasing and selling as a service. You can start from a crypto exchange platform. Bitcoin users can utilize the app or the online platform to buy or sell cryptocurrency.
WazirX is India’s leading cryptocurrency exchange, and it is backed by Binance, the world’s largest cryptocurrency exchange. With the QuickBuy option, one can begin investing for as little as 100 rupees in less than 60 seconds.
Is Bitcoin Legal in India?
Cryptocurrency is not illegal in India. In India, anyone can purchase or trade cryptocurrencies such as Bitcoin. However, keep in mind that Bitcoin and other cryptocurrencies are unregulated in India. However, India is currently investigating the establishment of a cryptocurrency regulating agency to improve the management of purchasing and selling.
