How you get the bitcoin?

Yes, we all know so far you can buy bitcoin from any bitcoin exchange in India and it's yours. But here we going to write about how they come in market? So that you can own them.

The decentralized and competitive process of generation bitcoin is called as mining. In this process of mining, the individuals who are known as miners are getting reward by the network to mine the blocks and generate bitcoin. The miners use specialized hardware to get the new bitcoins.

The rate for the bitcoin is fixed due to the bitcoin protocol which is designed in a way that nobody can interrupt in it or change the bitcoin price. This also raises the difficulty bar of bitcoin mining. The more miners joining means the less chance to get profit and it is necessary to keep the operational cost as low as you can.

Being a decentralized currency it is not governed by any authority so no one change makes changes to bitcoin network or manipulate its system as all the unwanted changes are rejected by the system. The bitcoin is created in a deacreasing way and predictable rates.

If you look for the best bitcoin rate you need to mine the cryptocurrency. The other option is to buy and sell bitcoin in India by going to the bitcoin exchange in India.

Invest in Bitcoin

Looking to invest some funds in cryptocurrency. Buy and sell bitcoin in India are most active ting people are doing nowadays. India is becoming a center of attraction on the topic discussion of bitcoin in India. There are few ways you can invest in bitcoin. Firstly Start mining bitcoin or find the best bitcoin exchange to buy bitcoin in India.

Mining Bitcoin

Mining is the process where one can mine the bitcoin solving the numeric equation on the computer. Sometime before this could be done easily on home PC but nowadays the bitcoin mining has become far more difficult. You should be knowing the hardware well to do mining and join the mining pool which is the group of miner performing mining together. You need the huge amount of fund and cold climatic condition to reduce electricity charges to as low as you can.

Buy bitcoin

Buy bitcoin in India is another way to invest in bitcoin. You can buy bitcoin from bitcoin exchange in Inida or online operators. Bitcoin which is a virtual currency operates in peer to peer network if you buy bitcoin through best bitcoin exchange in India you get the bitcoin wallet to store your bitcoin safe. The wallet is of two type hot and cold bitcoin wallets.

Benefits of Bitcoin

Rising Bitcoin price giving the lot benefit to all the youngster's users as well as senior citizens. As the people are looking bitcoin for great investment deal and money making a trade which is the good thing. The long term investment with Bitcoin in India or any other cryptocurrency is a huge idea.

Since the nation got its best bitcoin exchange in India and buy and sell bitcoin become so easy. The people can buy and sell Bitcoin in India with best bitcoin rate and also purchase other digital currency also. With this, you can also invest your money to buy bitcoin in India for the retierement purpose.

Transaction made easy

Buy bitcoin and send it around the globe anywhere with minimum fees and less time. You can purchase bitcoin with bitcoin exchange in India. The payment can be done online through debit card, credit card, and Paypal.

The Gaining Value 

Bitcoin is getting a worldwide acceptance in countries. Due to which the value of bitcoin is kept on increasing.

Technology

The bitcoin technology is way more different from other which we are using now. It is compared with gold in the financial market.

Bitcoin Status in India

 A few months back in March 2017 the Indian government decided to study the bitcoin and its related traits. To examine the digital currency government formed a panel including all government officials from Finance Ministry, Ministry of Education, Ministry of Technology, Reserve Bank of India, State Bank of India and NITI Aayog.

The government formed committee now came along with its final report submitted by the end of July. The decision over bitcoin is still waiting but will it be coming favor of bitcoin exchange in India or against this is yet to be announced.

The government official from the committee said that they are not sure but the legalizing the bitcoin in INida but banning is also not confirm from their side. The risk of banning bitcoin in India can be the loss of Indian government in many ways.

The ban can raise the illegal trading and buy and sell bitcoin in India and people can skip from the tax tradition to be paid to the government on their property or funds. The best bitcoin exchange in India those who are the members of DABFI such as Bitxoxo, Unocoin, Coinsecure and Zebpay are also giving their support to the government in making thing Understanding the easy on their side.

If bitcoin got legal in India people can buy the best bitcoin rate from authorized bitcoin exchange in India. The Indian government can receive the tax from the users of bitcoin on their profit margin.

Bitcoin Legal or Ban in India?

The news breaks out recently that the committee established to make a report on digital currency will be submitting their examined report soon in July.

In March the Indian government took the decision to form a panel including officials from the finance ministry, the ministry of technology, NITI Aayog, Reserve Bank of India and State Bank of India. The report is about to complete and will be submitted soon. The meeting was going to hold regarding the Bitcoin on Monday but postponed due to some reasons.

The government official form panel told in his statement that:

“We have had five meetings and have consulted all ministries, public, stakeholders (bitcoin exchanges). We will submit the report by July-end.”

The committee had done a thorough examine regarding the Bitcoin in India and globally. The authority also said that they are still thinking about the issue of legalizing Bitcoin in India. But the decision of banning bitcoin could also not be easy. The decision would make great changes for bitcoin users and Bitcoin exchange in India.

The best bitcoin exchange in INdia, who are the member of the (Digital Asset and Blockchain Foundation of India) DABFI such as BItxox, Unocoin, and Zebpay has also given their entire support in providing the knowledge and understanding the technology to government. With the spreading awareness of digital currency bitcoin among the people.

If the bitcoin got legal in the country the people may get the best bitcoin rate in India. The bitcoin exchange in India can provide the services to their customers with no hassle. The buy and sell bitcoin in India graph can also be increased with the decision depending on the Indian government.

Best Bitcoin Wallet in India

There are multiple bitcoin wallets in India. The best bitcoin exchange in India provides bitcoin wallet to their user. Who buy and sell bitcoin in India with huge or less investment in bitcoins.

1. Unocoin

Unocoin provides bitcoin wallet to its user with high-performance security and best bitcoin rate in India. They are the good supplier of bitcoin with customer support and quick service.

2. Zebpay

Zebpay is one of the best bitcoin exchange in India. Covering the market they provide high better support to from creating an account to buy bitcoin to their users. They perform every secure trait before allowing the user to buy and sell bitcoin in India.

3. Bitxoxo

Bitxoxo is the fastest growing Bitcoin exchange in India. They are known for the best customer support and 24X7 service to their customers. All the legal formalities are the priority for the exchange before providing any kind of service to its users. Bitxoxo is the only bitcoin exchange in India which does not charge any fee for transactions from its customers. 

Types of Bitcoin Wallet

After buying the best bitcoin rate in India are you confused where to store your bitcoins. No worries here is the solution to you. Bitcoin wallets are similar to the wallet in which you store your fiat currency. The wallet that helps you to send and receive bitcoin in minutes to the person sitting miles away from you in his wallet. You can easily get them from the available bitcoin exchange in India.
These wallets are operated with keys. There are two kinds of keys such as:

1. Private Key
2. Public Key

The private key owns the account holder to access his/her account privately. Whereas the public key the key which is used by the user to send and receive bitcoin.

There are 3 different types of Bitcoin Wallet

1. Cold wallet

They are the most secure bitcoin wallets as they operate offline and allows to store a large amount of bitcoin in the wallet. The bitcoin wallets are not connected to the internet.

2. Mobile Wallet

Use your smartphones as a wallet and the convenient way to send and receive bitcoin without opening your laptop. The bitcoin wallet mobile has enhanced security system with QR code capability.

3. Online Wallet

Online wallets are the easiest wallet to use. This wallet comes in the hot wallet category. With the online wallet, you can access your account on multiple devices easily as they are all time connected with the internet. Blockchain .info and coinbase are some of the service providers to the online wallet.

What is Bitcoin Wallet?

Bitcoin wallet works as a safe place to your bitcoin. Protection from hackers and any other illegal thefts. The bitcoin wallets are similar to the bank saving accounts where you store your money safely and without any stress.

Bitcoin wallets allow you to send, receive and hold your bitcoins in your wallets. Mostly bitcoin exchange in India and other countries provide bitcoin wallet to their customers.

If you buy bitcoin after searching for the best bitcoin rate in India and from the best bitcoin exchange in India. You should take off some time to have the bitcoin wallet. It only takes few minutes to get started. You need the email address and password to send and receive bitcoin using your bitcoin wallet.

While singing in your bitcoin wallet it gives you the unique wallet address. Which is not to be shared with anyone. It is similar to you bank account number. This unique code consists of 34 digits (numbers and letters both upper and lower case).

There are four types of bitcoin wallets such as:

1. Browser based wallet
2. Desktop wallet
3. Mobile wallet and
4. Hardware wallets

Bitcoin Legal or Illegal in India

Bitcoin a decentralized currency. The cryptocurrency that can be earned from various ways and most important needs the safe platform to operations.

The India government is examining the bitcoin for which they have formed a committee taking high profile officials from every important segment of India authorities like banks, income tax, politics, department of finance, etc. 

The Central government had not said anything about the digital currency, not even the matter of banning it in India has been raise. The bitcoin is still operating in India. Day by day the people's trust of bitcoin is developing which is leading to the high volume trade and demand mostly from the young professionals. The people are looking for the best bitcoin exchange in India to buy and sell bitcoin in India. Also the best bitcoin rates from the bitcoin exchange.

Recently the post has been got viral on social media page Twitter by one of the members of the committee to vote for the bitcoin to be legal or illegal by the comment and suggestion of India citizens. 

It is sure that India government is keeping a track of every affair taking place in cryptocurrency market. Either it's an increasing trade volume of bitcoin from Japan and China or the Russian government move.

The bitcoin exchange in India are hoping for the positive result comes from the government as the best bitcoin exchange in India have formed an association named as DABFI through which they are willing to help India government to understand the cryptocurrency well.

How to Buy and Sell Bitcoin in India

As the bitcoin price increasing day by day. Reaching almost 300% rise in the cryptocurrency within a year. The positive reach of cryptocurrency is becoming the most loved investment vehicle among the youth and professional nowadays.

There are many if's and buts in to buy and sell bitcoin in India. Whether you buy bitcoin or hold them in your bitcoin wallet. Is it safe? Yes, it is safe but only then, when you reach the best bitcoin exchange in India or in any other country. There are few best bitcoin exchanges in India to buy bitcoin are:

Bitxoxo is the fastest growing bitcoin exchange in India. The exchange is popular for its fast service and easy interface among its customers. They provide 24x7 customer service and support with zero percent fee for transactions on Bitxoxo. You need to verify urself document like KYC, PAN or Adhar Card to trade, buy and sell bitcoin.

Unocoin is also among the best bitcoin exchange in India. You can buy, sell bitcoin in India using their mobile App available on both Android and IOS users. The service is quick and convenient with al legal formalities first to be completed.

Zebpay is the wallet provider bitcoin exchange in India. You can store your bitcoins in the bitcoin wallet provided by the zebpay after you buy bitcoin. The protection is provided on its both Android and IOS app for its customers.

 

Bitcoin Market in India

Bitcoin has been the most talked topic of 2017. The young professionals and college youth are getting more attracted towards the digital currency. Since the decentralization exercise been started in India.

Several rumors have been circulating regarding the bitcoin to get the ban in India and other. But Indian government decision is still pending on the cryptocurrency. There is no such statement has been passed from the committee examining the bitcoin, that was formed by the Indian government.

The continuous growth of bitcoin giving a huge profit to people as people are looking bitcoin as a great investment vehicle and for trade, they are searching for best bitcoin exchange in India. The higher rate of buy bitcoin is been noticed with the increasing demand for Bitcoin to buy and sell bitcoin in India.

The government has not passed any statement related to the legality or ban the cryptocurrency in India. That's mean trading and investing in bitcoin is yet not illegal in India. But the government has warned the citizen to invest in digital currency at your own risk, nobody will be liable for any kind of loss you face.

The only part government has given their input is a tax. The bitcoin users whether buy bitcoin, sell, invest or trade they are not liable to pay tax. Until you gain a profit from the bitcoin while trading or selling. The tax is also liable to the person why is purchasing any commodity using bitcoin or any barter with any bitcoin exchange in India or foreign exchanges.