All about BITCOIN: Undiscovered, cashless, new way of investment
At the time when Shri Narendra Modi has announced ban on high value bank notes of Rs. 1000.00 and Rs. 500.00, people are finding way to go cashless, new investment options, and way to get rid of long queues. We have seen high surge in demand of new era crypto currency investment and trading option as BITCOIN. When prices of gold is going down, at the same time prices of BITCOIN is going up means BITCOIN is being traded at premium. Recently we have hike of 25% in the trade of BITCOIN in India. Similarly whenever prices of local currency of any country goes down, BITCOIN comes up as an option for replacing and providing new option of investment. Here is now curiosity arise in our mind that what is Bitcoin, how it is being traded, where can I found Bitcoin, how can I trade in BITCOIN, how can I go cashless using Bitcoin, Can I shop or travel using Bitcoin. We will try to find out answer for all these type of questions in this article.
What is BITCOIN: it is virtual currency which can be used for payment system, investment or trading in stock exchange. It was invented by satoshi Nakamoto. It is called first virtual currency of the world. the system works without a central repository or single administrator, the U.S. Treasury categorizes bitcoin as a decentralized virtual currencythe system works without a central repository or single administrator, the U.S. Treasury categorizes Bitcoin as a decentralized virtual currency.
Bitcoin can be bought from any exchange or individual selling it like unocoin or zebpay or any other similar exchanges. Bitcoin may be stored in digital wallet and used whenever it is required for payment system.
Bitcoin can be traded in India in BTCXindia which is first ever stock exchange for Bitcoin in India.
The supply is always less than demand. Indians abroad looking to send remittances home, the best way, is to buy Bitcoin on an international exchange and transfer it to India, where it can be immediately sold on a Bitcoin exchange. The transfer can take place through blockchain, a transparent public ledger. The Indian receiver, while encashing it, gets a premium and all deals are done using the banking channel, with proper know-your customer records.
Buying things with Bitcoin: Global computing giant Microsoft added Bitcoin as a payment option for a variety of digital content across its online platforms in December 2014. According to the company’s payments information page, US-based customers can now use Bitcoin to add money to their accounts, which can then be used to purchase content like apps, games and videos from its Windows, Windows Phone and Xbox platforms.
Bitcoin Gift card: If you can’t find physical or online stores that accept Bitcoin directly for the item(s) you require, the easiest way to turn your digital currency into ‘real-world’ goods and services is via gift cards.
One of the dreams of the crypto currency community is to be able to travel – across borders, perhaps –and to be able to pay in Bitcoin. This would avoid having to visit currency exchanges and pay their commissions and fees, while also avoiding the need to carry much cash around. Now the dream is starting to take off, with notable names starting to welcome Bitcoin onboard.
This is how we can onboard ourselves for virtual, cashless, amazing and new era way of living i.e. BITCOIN.
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