Introduction
In the 21st century, digital money is the most powerful and efficient form of money. With the emergence of technology and the internet, there has been a rise of many different forms of digital currency or cryptocurrency.
It is a virtual form of digital currency and is in the form of electronic cash. It can be transferred easily from one user to another user without any middleman administrator or a central bank. Some of the popular cryptocurrencies are Ripple, Litecoin, Ether and Bitcoin. Out of these, bitcoin is the most popular form of cryptocurrency which has emerged globally at a much faster pace.
Like other platforms, Bitcoin wallet may or may not need a digital wallet in order to buy, sell or carry bitcoin in the wallet. Bitcoin is the digital currency which is in the form of binary numbers 1 and 0. Till now there has been a business of millions through bitcoin. Bitcoin is surely the future of online digital currency which can be used to buy different products online.
Bitcoin was released in the year 2009 on 9th January which is almost about 10 years back. This cryptocurrency was later published out through an open software in 2009 and that's how its existence came into the online market of trading. In its early days, Bitcoin was used for buying illegal kinds of stuff like drugs, weapons and many other illegal things. Most bitcoins were used in the online black market like the Silk Road through dark or deep web.
However, it is not illegal to buy bitcoins in almost all over the world. It is safe to buy bitcoins easily in India with the help of numerous platforms and application present on the internet at cheap rates. Well in this article we will cover all the doubts and queries related to bitcoin.
How to Begin Buying Bitcoins?
The current price of bitcoin is around USD 6,300 as on October 2018. It may be very costly to buy a huge amount of bitcoin right now, but due to the fluctuating rates of bitcoins currently and the chances of getting huge profit is comparatively high these days. There are various methods to buy or sell bitcoins. One can even get free bitcoins and earn a huge amount of profit by the process of “bitcoin mining”.
Bitcoin Mining
This process is a peer to peer virtual process and may require good coding skills and hardware to mine bitcoins to earn huge chunks of money. Mining generally involves the process of adding the transaction history of bitcoins data into the official global public ledger. This data of past transaction history is known as blockchain. Blockchain helps the miners get more supply of bitcoins and add them into the system.
Bitcoin mining may involve high consumption of electricity and may depend on the place where you are going to mine it. There are thousands of online platforms available on the internet which facilitates the users to buy mining hardware and software to mine bitcoins. By taking help of professionals one can earn huge-amount of bitcoins in a short tenure of time. If we go in simple terms mining is just a simple process by which we can earn and generate bitcoins easily.
Also Read: Best Bitcoin Cloud Mining Platforms of 2018
How to Make a Huge Profit from Bitcoins?
Most of the people have this question in mind when they start off with Bitcoin investments. The good news is – there are hundreds of online platforms and applications through which one can trade bitcoins for a huge amount of profit.
The best part about these applications and platforms are that they are easily available on google play store and other leading application platforms for free of cost. However, it is advisable for the users to look for verified applications and platforms based on public reviews. The process of earning profits through these applications is easy.
Users just need to buy the bitcoins at the right time when the global prices are comparatively low. After a few days or even months when the prices go high, it is the best time to sell the bitcoins and earn a profit. The price of bitcoins in 2010 was $0.003 but in the year 2016 it came close to $400. People who would have held their bitcoins in their digital wallets for so long would now have been millionaires right now.
Users need to look out for the perfect time but make sure to invest only the amount of money you can afford to loose. It is very easy to buy or sell bitcoins through applications easily in India. Users just need to have basic requirements like Pan card, Aadhar card, Bank account, credit card, debit card and also the user must be of 18 years and older.
Some of the trusted and verified digital wallets for transactions and trading of bitcoin wallets for gaining maximum profit are –
It is the most efficient cryptocurrency wallet present on the google play store. It has almost 5 million plus download and is the most trusted platform on the internet for buying and selling bitcoins. The process of buying or withdrawing the amount is very easy through bitcoin. One can even buy fractions of bitcoin through it. Other features of this application are price alerts, 24-7 technical support, and hourly price chart notification.
This Indian wallet is well equipped with modern day features and provides 24-7 technical support to the users. Unocoin is the official member of NASSCOM and has many upbeat features like bitcoin subscription, consolidated wallet, live price tracker widget, low transaction fees. One can even use bitcoins through this platform to do mobile recharge and DTH recharges easily. It is the most affordable wallet and keeps the users updated with market prices by notifying them when the prices go down. Unocoin also is well equipped with security measures like 2-factor authentications and requires users to complete KYC.
The above-mentioned bitcoin exchanges are the some of the most trustworthy and can be used without any hassle to trade huge amount of bitcoins.
Also Read: Ultimate Cryptocurrency Exchange Guide
Earn bitcoins with the help of websites by completing tasks:
There are thousands of websites present on the internet which claim to provide bitcoins for free by completing simple tasks like doing surveys, downloading apps and even by clicking on the advertisements. Some of the trusted applications which provide free bitcoins are freedigitalmoney.com, vidybit.com, coin adder, ads4BTC, Bitfortip, and coin worker.
These applications are quite reliable and can be used to earn a considerable amount of bitcoins.
Other methods may involve lending bitcoins to a trustworthy person or start accepting bitcoins in your business.
Bottom Line
Bitcoins are the future of digital currency and we can soon expect the world to flourish by such cryptocurrencies. The best part about these cryptocurrencies is that people can earn a huge pile of money with nominal processing fees. However, one should always be careful of online frauds as various cyber-crimes relating to bitcoin mining and trading are already registered.