5 Reasons to Buy Bitcoin in India
- It is the World’s Largest digital currency by Market Cap.
- Widely popular among institutional investors.
- Tesla recently experimented with accepting Bitcoin as a means of payment.
- It is a great way to hedge against huge price swings and inflation. Thus, a relatively safer way of diversification of stock investments.
- With non-correlation to existing stock markets, it is seen as equivalent to what gold has been in traditional stock investments.
What is Bitcoin?
Launched in 2009, Bitcoin is the world’s largest cryptocurrency by market capitalization.
It was the first virtual currency using blockchain that reached mass acceptance and inspired the origin of all other cryptocurrencies in the world. It is a successive technological innovation, allegedly by Satoshi Nakamoto, to precursors of whitepapers on Hashcash, Bit gold, b-money, and reusable proof of work. It has caused a big revolution in conventional banking and monetary systems.
Bitcoin can be easily used as a means to online payment like any other traditional online payment method of credit cards, net banking, etc.
3 Things to know while Investing in Bitcoin (btc)
- El Salvador has already become the first country to adopt BTC as a legal tender in June 2021. It has since gained momentum for accepting online payments.
- BTC has a limited lifetime supply of 21 Million tokens, with miners mining 6.25 tokens every 10 minutes.
- Bitcoin has shown a 3 year steady zero correlation with existing stock markets.
To buy Bitcoin directly, you can engage in P2P (Peer to Peer) trade. If there’s somebody you know who already has Bitcoin, you can buy directly from them.
You can use decentralized exchanges to connect with a seller and buy Bitcoin from them.
The easiest way is to take the simplified route by downloading CoinSwitch Kuber!
You can buy Bitcoin in just 4 steps on CoinSwitch Kuber:
- Open CoinSwitch Kuber, click on the Market tab from the bottom navigation and select Bitcoin.
- Click on the ‘Buy’ button.
- Enter the amount that you would like to buy Bitcoin for, say ₹100, and click on the ‘Preview Buy button
- Check all the details of your order and proceed by clicking ‘Buy.’
Congratulations, you just bought your first Bitcoin!
Prices of all financial assets, including cryptocurrencies, like Bitcoin, fluctuate from time to time. The best investor is the one who invests in the right assets at the right time.
To minimize your risk and get started immediately, you can start investing periodically in Bitcoin for a sum as low as Rs 100 and leverage the price differences to maximize your gains. Simply speaking, invest today before the prices surge further and hold it until you get a reasonable profit on your investment.
The best time to buy Bitcoin or any other financial asset, for that matter, is when their prices are low. As soon as the prices rise, you can sell it for good profits on each coin. With the tremendous growth being seen in the field of cryptocurrency, it is best to get started at the earliest and invest in reliable investments like Bitcoin.
Start small but Start Now.
We highly recommend CoinSwitch Kuber for the ease of buying and selling cryptocurrencies, like Bitcoin.