India
GST Council brings relief to the transport sector.
India
India aims to dominate global market in all industries: Piyush Goyal
International
PM Modi to cement bilateral ties with Nepal.
India
WHO claimed India to have the highest covid deaths and india hits back
India
IAF and Navy tie – up with DRDO to acquire CHAFF defence technology .

Bitcoins: The new way of investment

News By/Courtesy: Priyanka Patnaik | 19 May 2020 9:13am IST
Business & Stock

Bitcoins are cryptocurrencies. They are also known as a digital currency that hold some monetary value. According to the market cap of cryptocurrencies, their production will decrease over time and creating a demand-supply, making it more valuable soon. It became popular because there was no interference from the government.
Bitcoin became the first cryptocurrency to be invented in 2009 by a developer named Satoshi Nakamoto. Post Bitcoin, coins are called altcoins and are named as Ethereum, Litecoin, Peercoin, Feathercoin. It can be stored in computer hardware in offline mode, which is also called as hot storage and also stored online, also called hot storage.
Two ways to invest in Bitcoin
  • There are various platforms such as zebpay, uncoin, coinsecure. Where you can buy, hold them till you generate profit and later sell them. You can also invest in cryptocurrencies by using different exchanges and platforms. Some of the trusted platforms in the market such as Poloniex and Coindesk that can help you start investing in the coins. In the Indian market, Unocoin is known for bitcoin investment, but the reviews by other investors aren’t so positive. So the Investors are advised to thoroughly scrutinize every platform before signing up and investing.
  • Mining: It can be done so if there are old computers, which are of no use; they can be converted into mining machines, to earn crypto coins. It also depends on the hardware capacity based on which coins can be collected to make profits. Before all this, you have to have a basic knowledge of computers. There is a need to analyze the capabilities of your hardware and see if there is any profit that can be earned after deducting monthly operating costs and electricity bills.
 For Bitcoins or Litecoins, there is a specific machine that can mine the coins at a much faster speed than an average computer. If we have to mine coins in Ethereum network, a good graphics card in a computer is required. If it is not feasible to set up at home, certain online companies will help in setting up mining systems. In the cloud for which there is a monthly payment depending on the computation power being rented.
The Risk Involved in Bitcoin are:
  • The cryptocurrency market is an unstable market, at one point in time you are rich in a day or you can lose everything you invested in seconds. Example: At the beginning of 2017, Ethereum‘s price was $40, which later increased to approximately $400 and now it’s currently trading at $200 which is about 14,000.
  • Another example of what went wrong in the crypto coin realm is the case where an exchange brought the price down of one ETH to $0.10 and triggered the stop loss set by investors.
  • It’s still in its early stage and yet to be adopted by countries. South Korea and a few other countries are already moving in a direction to legalize bitcoins.
  • Bitcoin is based on risk assessment and time, which helps in keeping your money invested.
 Is Bitcoin Legal in India?
Bitcoins are legal now in India after the SC decides on RBI v Cryptocurrencies. The SC struck down the RBI's circular in April 2018 about banning financial institutions from providing services to crypto businesses. The court held that RBI's circular was unconstitutional.

Section Editor: Pushpit Singh | 19 May 2020 18:04pm IST


Tags : #bitcoinbeinglegal

India Related Latest News

Business & Stock

1454 views

12 Jun 2021


Business & Stock

1732 views

17 May 2021


Business & Stock

1162 views

22 Apr 2021


Business & Stock

819 views

13 Apr 2021




Business & Stock

981 views

12 Apr 2021


Business & Stock

678 views

10 Apr 2021


Business & Stock

1485 views

09 Apr 2021


Business & Stock

741 views

02 Apr 2021


Business & Stock

650 views

25 Feb 2021


Business & Stock

786 views

12 Feb 2021


Business & Stock

838 views

06 Jul 2020


Business & Stock

1118 views

04 Jul 2020


Business & Stock

1038 views

03 Jul 2020




Business & Stock

1022 views

03 Jul 2020


Business & Stock

916 views

02 Jul 2020


Business & Stock

693 views

29 Jun 2020


Business & Stock

724 views

28 Jun 2020


Business & Stock

788 views

26 Jun 2020


Business & Stock

1093 views

26 Jun 2020


Business & Stock

753 views

24 Jun 2020


Business & Stock

771 views

19 Jun 2020


Business & Stock

1157 views

16 Jun 2020


Business & Stock

982 views

16 Jun 2020


Business & Stock

807 views

15 Jun 2020


Business & Stock

1428 views

15 Jun 2020


Business & Stock

901 views

14 Jun 2020


Business & Stock

981 views

09 Jun 2020


Business & Stock

916 views

07 Jun 2020


Business & Stock

918 views

05 Jun 2020


Business & Stock

1241 views

05 Jun 2020


Business & Stock

2090 views

04 Jun 2020


Business & Stock

977 views

04 Jun 2020


Business & Stock

1195 views

21 May 2020


Business & Stock

1098 views

19 May 2020


Business & Stock

867 views

08 May 2020


Business & Stock

842 views

04 May 2020


Business & Stock

853 views

29 Apr 2020


Business & Stock

926 views

28 Apr 2020


Business & Stock

945 views

27 Apr 2020


Business & Stock

9719 views

27 Jan 2020


Business & Stock

1444 views

22 Jan 2020


Business & Stock

6899 views

11 Jan 2020


Business & Stock

1387 views

11 Jan 2020


Business & Stock

974 views

23 Nov 2019


Business & Stock

930 views

30 Oct 2019


Business & Stock

1117 views

18 Sep 2019


Business & Stock

1266 views

07 Aug 2019


Business & Stock

1246 views

07 Aug 2019


Business & Stock

1267 views

06 Aug 2019


Business & Stock

1371 views

06 Aug 2019


Business & Stock

1216 views

26 Jul 2019


Business & Stock

2454 views

08 Jul 2019


Business & Stock

1361 views

17 Jun 2019


Business & Stock

1405 views

12 Jun 2019


Business & Stock

2489 views

07 Jun 2019


Business & Stock

1684 views

07 Jun 2019


Business & Stock

1501 views

06 Jun 2019


Business & Stock

1422 views

05 Jun 2019


Business & Stock

1473 views

04 Jun 2019


Business & Stock

2082 views

30 May 2019


Business & Stock

1386 views

28 May 2019


Business & Stock

1497 views

22 May 2019


Business & Stock

1446 views

19 May 2019


Business & Stock

1724 views

18 May 2019


Business & Stock

1538 views

16 May 2019


Business & Stock

1337 views

14 May 2019


Business & Stock

1431 views

09 May 2019


Business & Stock

1536 views

09 May 2019


Business & Stock

1550 views

08 May 2019


Business & Stock

1630 views

06 May 2019


Business & Stock

1479 views

05 May 2019


Business & Stock

1606 views

02 May 2019


Business & Stock

1600 views

01 May 2019


Business & Stock

1634 views

30 Apr 2019


Business & Stock

1505 views

30 Apr 2019


Business & Stock

1491 views

29 Apr 2019


Business & Stock

1501 views

28 Apr 2019


Business & Stock

2792 views

26 Apr 2019


Business & Stock

1452 views

25 Apr 2019


Business & Stock

1657 views

23 Apr 2019


Business & Stock

1654 views

22 Apr 2019


Business & Stock

1465 views

21 Apr 2019


Business & Stock

1467 views

16 Apr 2019


Business & Stock

1565 views

14 Apr 2019


Business & Stock

1477 views

08 Apr 2019


Business & Stock

1585 views

06 Apr 2019


Business & Stock

1621 views

29 Mar 2019


Business & Stock

1617 views

27 Mar 2019


Business & Stock

1749 views

27 Mar 2019


Business & Stock

1580 views

26 Mar 2019


Business & Stock

1581 views

17 Mar 2019


Business & Stock

1544 views

15 Mar 2019


Business & Stock

1706 views

14 Mar 2019


Business & Stock

1953 views

07 Mar 2019


Business & Stock

1763 views

06 Mar 2019


Business & Stock

1748 views

25 Feb 2019


Business & Stock

1717 views

08 Feb 2019


Business & Stock

2074 views

06 Feb 2019


Business & Stock

1498 views

05 Feb 2019


Business & Stock

1571 views

03 Feb 2019


Business & Stock

1524 views

31 Jan 2019


Business & Stock

1511 views

30 Jan 2019


Business & Stock

1506 views

29 Jan 2019


Business & Stock

1584 views

27 Jan 2019


Business & Stock

1626 views

24 Jan 2019




Propertified
Propertified
Propertified
Propertified
Propertified
Propertified
Propertified
Propertified
Propertified
Propertified

About Us | Disclaimer | Privacy Policy | Complaint Redressal | Advertise With Us | Careers | Internships | Contact Us

Copyright Kalyan Krishna MediaZ Private Limited. All rights reserved. Unless otherwise indicated, all materials on these pages are copyrighted by Kalyan Krishna MediaZ Private Limited. All rights reserved. No part of these pages, either text or image may be used for any purpose. By continuing past this page, you agree to our Terms of Service, Cookie Policy, Privacy Policy and Content Policies.