What is Bitcoin?
Bitcoin is a digital currency which doesn’t have any physical presence. It remains on your PC, and you can use it like regular money for online purchases. The Bitcoin is formed by lots of calculations which needs high-end computers to solve. If you address the problems related to Bitcoin transactions, you can get a small amount of bits for that. It is entirely automatic, and you just need a high-end computer because the calculations involved in the Bitcoins is too complicated for a regular computer. This is called Bitcoin mining. By doing Bitcoin Mining, you can earn free bitcoins! But, it requires a powerful computer and your electricity bill will also be extremely high. (NOTE – Bitcoin mining is illegal in India, but we can invest on Bitcoin High Yield Investments Plans using zeb pay app)
So many people like to invest in it as Bitcoin doesn’t have a stable value. It increases or decreases at any price at any time. So you just divine and invest in it to gain some profit!
You can use Bitcoins to purchase online also. Many websites started accepting Bitcoins too. It takes 10-15 minutes to transfer bitcoins because of the calculations involved. The Bitcoins are the result of calculations which is almost impossible to crack! So we can say it is highly secured currency.
- Payment Method for Purchasing Bitcoins – IMPS or NEFT.
- Bitcoin Current Rate – Bounces Daily (around Rs 40000 – Rs 50000)
How to buy Bitcoins in India?
There are many sites which allow you to buy/sell and trade on Bitcoins. These websites do usually operate with other currencies like dollars & pounds. So that is little problematic for Indian users. Zebpay is an android application which began this service in India. It is a Bitcoin wallet, and you can save your Bitcoins there.
You can buy, sell and exchange on bitcoins simply in 2-3 clicks & the service charges are also least, and it is the best Bitcoin wallet in India as of now.
2- Sign up using your correct details (Name same as PAN card).
3- After registering, you have to verify your account by uploading PAN card photo and bank account details. (necessary to use this app)
4- It takes around 1 business day to verify your account. You will get mail and SMS regarding verification.
5- After verification, you can purchase your first Bitcoins. Just go to “buy” section and enter the amount in rupees. The minimum amount is Rs 500.
6- After confirming, you will get method to pay. You have to do either NEFT or IMPS to them on their Bank Account.
7- After transferring, just give the transaction ID and your amount will be shown in your account in some hours. (It takes some time so be stable)
After receiving the bitcoins in your wallet, you can use it to sell, send, and purchase anything from the internet which supports bitcoin payment. You can pay any HYIP Company using Zebpay Bitcoin Application.
Advantages & Use of Bitcoins?
1- With Bitcoin, it is quite possible to be able to send and get money anywhere in the world at any given time.
2- Allowing users to be in control of their transactions help keep Bitcoin safe for the network.
3- Currently there are tiny fees within Bitcoin payments.
4- Bitcoin can be backed up and encrypted to ensure the safety of your money.
5- Many HYIP and MLM Companies are accepting bitcoins instead of Online Transfer, Bank transfer or Neft.
Security of Bitcoins?
1- Because Bitcoin transactions cannot be reversed, do not carry with them personal information, and are secure, merchants are defended from potential losses that might occur from fraud.
2- Bitcoin protocol cannot be managed by any person, organization, or government. It is due to Bitcoin being cryptographically secure.
3- With Bitcoin, merchants are apt to do business where crime rates and fraud rates may be high. It is very hard to cheat in Bitcoin due to the public ledger, otherwise known as the blockchain.
4- Your public address is what is visible, however, your personal information is not tied to this.
5- With the blockchain, all finalized transactions are available for everyone to see. However, personal information is hidden.
6- Anyone at any time can verify operations in the Bitcoin block chain.
If you have any question, doubts, problems or any ideas. Just comment below.