What is Bitcoin?

Bitcoin is a form of digital currencies or also called Cryptocurrencies independent of traditional banking. Bitcoins started rolling their market in 2009 and have become the most prominent of several fledgling digital currencies. It’s become one of the most popular digital money around the world, and it’s growing their graph of use every hour.

When and how it is created?

In 2009 a group of people introduces the bitcoin in front of the world, who is the founder of bitcoin is unknown. First, its run by a group of people called Satoshi Nakamoto

Why it is trending?

As the market changes their shape of business and online market is in great trends, people are attracted towards bitcoins and digital currencies, Bitcoin is one of the safest ways of transactions, take place between users directly, without the interference of any third party. Transactions through bitcoins are verified by network nodes and recorded in a public distributed file where every single data of transaction save from both the end of parties either customer or buyer that’s the reason it’s a safe and blockchain type process and safe for the big transaction of currencies across any country who accept Bitcoins.

Where can you buy it?

Many websites which offer’s the platform or provide service to buy or sell bitcoin online are called “bitcoin exchanges”.

Websites and apps

Some popular website and apps which buy or sell bitcoins are

LocalBitcoins.com

One of the best point or place to buy bitcoins is “Localbitcoins.com” a startup that helps you to buy bitcoins directly.

UnoCoin App

ZebPay Android App: Zebpay is one of the oldest & trusted online portals to buy or sell bitcoins in India.

Buy Bitcoins through CoinSecure

Use Reminato Website for Buying Bitcoins

 Is it current accepted by the government?

In India it’s a Legal to deal with bitcoins, on 28 December 2013, K. C. Chakrabarty (Deputy Governor of the Reserve Bank of India) made a statement that the Reserve Bank of India had no plans to regulate bitcoins.

How its value is increasing?

Value of bitcoins depends upon the market crisis and uses. Nowadays demands of bitcoins have slightly increased in the past few years, Factors depends on increasing the value of bitcoins price is not controlled by any business firms, institutions or organization.

Here, are some of the important factors that increased the value of bitcoin price:

Media

Media can also play an important role in influencing the bitcoin price significantly. Media hype can easily lead to an increase the price of bitcoin, while negative news can lead to a decline the price.

Use of cashless transaction

As the market gets advanced people are interested towards safe and timeless transaction this another reason of increasing the value of bitcoin in online sector

Network Stability

Stability of the bitcoin network is a major factor in their increasing value, people and business organizations want a safe and secure network for transaction their money. They search for the safe node or network to precede their payments and I think Bitcoins offers you the safest way of transaction.its another reason behind the increase of Bitcoins

Demand and Supply of bitcoins

After digitization of many countries and use of smartphone or internet increases day by day. Demand and supply of bitcoins also increase.Price of bitcoins mainly depends on the demand and supply.

Wider Acceptance of bitcoins

Some popular websites like WordPress and Reddit are currently accepting bitcoins as a means of payment it’s another reason for increasing the market value of bitcoins.In India, after demonetization, many multinational companies started accepting their payment in bitcoins

Graph of bitcoin value over time

In which country you can use it

Nowadays many countries legally accepting bitcoins as in their payment section. Some popular countries where bitcoin is legal are:

US

India

Russia

Germany

Algeria

Nigeria

South Africa

Namibia

Zimbabwe

Canada

Many more countries started using their transaction through bitcoins

For what minimum value you can buy it

Depends on the market rate of present value of bitcoins