What is Bitcoin - Full Information About Bitcoin

#1. What is Bitcoin - Full Information About Bitcoin.

Bitcoin remains a topic of great discussion among people. People are considering to invest money in bitcoin to earn more money. It has been banned in many countries. Bitcoins are not capital issued by any country or government. It is a type of new digital or virtual currency, which can be used, but it cannot be touched. On this page, information about what is bitcoin, how to buy bitcoin, process, bitcoin price, etc. is being given.

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#2. What is Bitcoin

Bitcoin is a digital currency, it can be used to buy goods, it can be transferred from one account to another but it cannot be touched and felt. This currency is not the national currency of any country. It can be used only through digital medium.

#3. How To Purchase Bitcoin

Reserve Bank of India in India has issued a statement for bitcoin which is as follows-

RBI advises that no license/right has been granted by it to any entity/company to operate any such scheme or deal in bitcoin or any virtual currency. Thus, if any user, holder, investor, trader, etc., transacts in virtual currency, he shall do so at his own risk.” The Reserve Bank of India has cautioned against the risks of investing in this type of currency.

Process

Bitcoin is a freely tradable currency, it can be used for buying or selling on online exchanges or markets. A bitcoin wallet is required before using this currency. Zebpay, Unocoin, BTCXIndia and Coinsecure are the most popular ones in India. You have to follow these rules for wallet on this.

To use bitcoin, you will have to go through the KYC process, for this you will have to submit a copy of the PAN card.

If you create your wallet in Zebpay, you will need to register a bank account with the bitcoin wallet company, in which only transactions from one bank to another are allowed. Your payment can be made through NEFT, RTGS and IMPS or other means.

You can direct Zebpay through mobile, you can buy or sell by saved its mobile Software. Reserve Bank of India has issued a notification for bitcoins, according to this, if any kind of fraud occurs with the user, then he himself will be responsible for it.

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Bitcoin Price

1 Bitcoin = 6,09,446.84 Indian Rupee (Price varies with time)

Here we have provided you information about bitcoin, if you have any kind of question related to this information, or want to get any other information related to it, then you can ask through the comment box, We are waiting for your feedback and suggestions.