What is Actually Bitcoin and How to Invest in Bitcoin?EARN

By HubPrix -


Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.

It’s the first example of a growing category of money known as cryptocurrency.

I would like to highlight on the investment part.

How can you invest in Bitcoins ? Directly buy Bitcoins
Invest in Mining Bitcoins
How to buy Bitcoins ?

In India, currently Zebpay and Unocoin are the two best apps. According to Zebpay , daily more than 2500 people opening account. That is incredible feat . You can buy bitcoins through IMPS/NEFT/RTGS from an Indian Bank Account. Current price Rs.1,55,564.

Alternately you can buy Bitcoins from International Exchanges like CEX.IO ,Lake BTC , HitBTC , VirWox using your Credit Card / Debit Card / Wire Transfer / Paypal / Skrill . Price 2150$ ::== Rs. 1,25,000 approx.

The international exchanges are reputed companies having huge turnovers and use bank grade security . So , your bitcoins are quite safer in international exchanges rather than Indian counterparts, at least they won’t runway stating bankruptcy.

Now its upto you to decide.

 How to mine Bitcoins ?

Simply , Bitcoin mining is the process in which new Bitcoins are generated and rewarded to the miner. Now Bitcoin Mining is a complicated process and involves a big investment.

The Hardware needed for Bitcoin Mining is ASIC AntMiner S9 which costs around 2000$ in BITMAIN official page. This machine can generate hashrate of 12Th/S , Further to run this ASIC you need electricity and it consumes a lot , so you will spend around a dollar each day. So for an year of Bitcoin Mining , you will invest around Rs.1,80,000. This machine can generate you 2 Bitcoins in an year.

If you want to exclude yourself from such hassles of setting up a ASIC miner , you can go for Cloud Mining Contract from reputed Companies. You can buy your mining contracts and choose hashrates according to your need.

In Hashflare.io 12 TH/S MiningContract will cost you 1440$ and in Hashing24 its around 2000$.

So, you can survey your needs and proceed accordingly.

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