Bitcoin Buying / Investing Guide – Why is P2P Bitcoin (buying bitcoin from a person without a company) becoming popular? What is bitcoin and how to make money from it
Today’s era is the modern era. Everyone is engaged in making progress and increasing their feet. Things are getting better and the old ones are getting obsolete. Every day new inventions and discoveries come to the fore. An important discovery in these discoveries is Bitcoins and nowadays their popularity is increasing among traders, investors, and common people. But why?
To understand the reason, we must first know some basic things.
- What are Bitcoins?
- How to buy bitcoins?
- How are they used?
- Why do people want them?
- Is this safe?
So let us know the answer of these questions one by one.
- 1 What is bitcoin?
- 2 bitcoin price
- 3 How can bitcoins be bought and sold?
- 4 how to buy bitcoin
- 5 How are they used?
- 6 Why do people want to transact in bitcoin?
- 7 What bitcoin Safe Is?
- 8 bitcoin Of Popularity Of Some reason This type From Is.
- 9 Bitcoins as an Investment:
- 10 Warning
- 11 hacking
- 12 limited Use
- 13 uncontrollability
- 14 legal Disclaimer
What is bitcoin?
Bitcoin is a type of virtual currency, it cannot be touched or seen like any other currency. We can only store Bitcoin in an online wallet. the invention of bitcoin Satoshi Nakamoto did in 2009 and since then its popularity has been increasing. The reason why bitcoins can be bought and sold in the market is a fixed price.
To know the value of bitcoin in the Indian market: https://paxful.com/calculator/btc-to-inr open can see
How can bitcoins be bought and sold?
if you buy bitcoins And if you want to sell then you must first have some necessary documents.
These documents include –
°Phone number(Phone number)
°Bank Account Details
If you want to buy bitcoin easily, then you can buy it on p2p exchanges, now you just have to follow some easy steps given below to buy bitcoins
how to buy bitcoin
Step 1. Anyone can choose a P2P marketplace website like Paxful, coinbase, localbitcoin etc. And buy bitcoins by paying with your preferred payment method.
Step 2. Select the desired offer by visiting the selected website.
Step 3. Now click on the desired offer and make the payment in your preferred way.
Step 4. As soon as the seller will get the payment amount, bitcoins will come in your wallet.
buy and sell bitcoins Paxful Considered to be a very good company. The Paxful p2p marketplace makes the purchase of bitcoins available at 0 fees. Here you can do transactions up to $ 1500 without ID verification. Also it provides many methods for payment. You can pay by choosing the preferred methods.
How are they used?
We can use Bitcoin to make online payment or to do any kind of transactions. Bitcoin works on peer to peer network based which means that people can easily transact with each other directly without any bank, credit card or through any company.
Why do people want to transact in bitcoin?
Since bitcoins are not controlled by any bank or government, they provide a privacy to the consumer.
What bitcoin Safe Is?
It is very difficult to create new bitcoins and copy old ones and every transaction is recorded. So we can say that it’s safe. But some people do not consider it safe because you cannot see or touch it.
So now that we have got the basic information about it and now we can go in depth, then our question was why its popularity is increasing day by day among the traders.
bitcoin Of Popularity Of Some reason This type From Is.
1. Here your transaction fee is very less than paying by credit card and debit card.
- You can send bitcoin to anyone anywhere in the world and anytime from your mobile sitting at home without any hassle.
- If the bitcoin account is not blocked like other debit and credit accounts, then this problem does not occur here.
- Bitcoin is considered very profitable for long-term investment, even a small investment in it can benefit you a lot because according to such records the price of bitcoin is skyrocketing and it is believed that its price in the coming time. It can also touch the moon, which means it can increase further.
- There is no control of any kind of government or authority on Bitcoin, due to which it keeps the transactions secret and private, for this reason it is also used for illegal activities, since they are not recorded, terrorists can easily escape by using them. .
Heavy investments by large companies also make the bitcoin marketplace popular on p2.
Recently coinbase, biance has bought 12.5% of coinsquare at a price of CAD $ 430 million.
As well as AXS Blockchain solutions Inc. And well-known companies called Blockchain foundry have signed a letter of intent to make the p2p marketplace more secure, transparent, and easy for the users.
Or the decentralized p2p marketplace Paxful and localbitcoin have expressed the idea of removing the intermediary to make transactions faster.
According to Paxful’s cofounders Ray Yousef and Artur Schaback, in 2016 their marketplace was able to do about 8000 transactions a day.
Although Paxful sacrifice has emphasized on removing the basic verification system KYC to make the transactions more secret and private.
A well-known company named HIVE BLOCKCHAIN is emphasizing on cryptocurrency mining and making arrangements to make it accessible to the public as quickly as possible.
The new company HASH CHAIN TECHNOLOGY INC. Many types of on-site mining services are being provided 24/7 such as DASH MASTER NODE hosting, Node40 balance accounting.
As well as Global Blockchain Technologies Corp. and Riot Blockchain Inc. Like well-known companies are also emphasizing on cryptocurrency.
Bitcoins as an Investment:
- Today, bitcoin is becoming a point of attraction between businessmen and ordinary people, the reason for this is its ever-increasing price, today its price is about 8,38,303 which was only 36 paise a year ago, its quantity will rise further in the coming time. There may be many reasons for the bright future of bitcoins such as
- Acceptance Slowly with time, all businesses and common man have started adopting bitcoins. They are now being used in daily use at the time of shopping, when eating food in restaurants and for buying some electronic items.
- Zero Fee – When you use debit and credit cards, you have to pay some regular charges on each transaction which is around 3-4%. But bitcoin provides zero fee facility as well with debit and credit cards. Minimizes associated risks. There is no fee to buy bitcoin in Paxful however 1% escrow fee is required for selling
- Bitcoins cannot be stolen – Security has been considered the priority of bitcoins, they cannot be stolen like money kept in pesos. It is almost impossible to steal them, this is the biggest reason for its popularity.
- No need to reveal identity – The payer does not need to reveal his identity while paying for anything through bitcoin which is his privacy.
As bitcoin is not a real currency, there can be many problems in its use such as 1. Huge fluctuations in price It is very difficult to estimate the price of bitcoin accurately. Its price can touch the sky or the ground overnight. In the last several years, there has been a huge jump in its price, the volatility of the price is shown in the graph below.
The biggest threat to bitcoin is hacking. Hackers can sneak into your computer and phone and steal your bitcoin, which can cause you huge losses.
Although bitcoins are used by big companies like kfc, subway, amazon, microsoft, AT&T but still its use is very limited, it is not accepted everywhere, you can not buy the items of your daily needs. .
As there is no control of government, RBI, SEBI and any other authority on this, then if there is any fraud then they will not be accountable and they will not have any responsibility.
A press publication was issued by the Reserve Bank of India on 24 December 2013 regarding virtual currency like bitcoin. It was said that no official permission has been given to the transaction of these currencies and there are many levels of risk in doing this transaction. Along with this, in February 2017 and December 2017, the Reserve Bank again cautioned about it. was issued.
Despite so many disadvantages, bitcoin is becoming a good investment, its price is increasing continuously, but be careful and be careful in the transaction of bitcoin.
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