Brief note on bitcoin:
The one who thinks to install money in the share market always have his mind on the really, can cryptocurrency’s bitcoin lead to growth.
Bitcoin is not only the cryptocurrency there are others also, like Ethereum, Tether, Polkadot, many other.
It is a compound of the words bit and coin. No uniform convention for bitcoin capitalization exists. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services, but the real-world value of the coins is extremely volatile.
Bitcoin (₿) 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. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Really can cryptocurrency’s bitcoin lead to growth….!
If it doesn’t ,then most of us does not really know about the cryptocurrency or bitcoin. the bitcoin has 10 minutes of it’s time to make any one rich or poor.
It such an wonderful cashless transaction .after we earn bitcoin the bitcoin can be converted to money. since 2008 it’s demand has been increased.
1 Bitcoin equals 28,79,614.36 Indian Rupee.
The amazing fact is if bitcoin grows then it means we grow .The complete bitcoin cannot be purchased by the normal man, but the fraction of the bitcoin can be purchased.
As we purchase small part and must keep on investing so that we can some sort of amount and again investing and earning can lead to growth but one should not leave the fight in between if he/she fails.
Some pros and cons about bitcoin:
| Pros | Cons |
|---|---|
| Very accessible – cryptocurrency exchanges make it easy to start buying bitcoin | Unregulated – the use of bitcoin itself is unregulated, leaving you legally unprotected should anything go wrong. |
| Very liquid – it’s easy to cash out and sell your bitcoin if you need money. | Limited practical use – you cannot use your bitcoin to buy things. It must be converted to regular money first. |
| Potentially high returns – bitcoin tends to peak at extremely high prices. | Extremely volatile – bitcoin prices can drop very quickly and reach very low prices. |
| Security – you always know where your bitcoin comes from and where it goes. | Security – it is impossible to reverse transactions and your bitcoin cannot be recovered if it is stolen. |
SUMMARY:
As cryptocurrency is one of the most interesting subject, it teaches us some techniques. I always recommend to try once doing this as it is going to be such an wonderful experience of ones life.
