What is Bitcoin?

Well bitcoin is nothing, but a type of cryptocurrency bitcoin was founded in 2008. It was launched in 2009 by Mr. Satoshi Nakamoto like, I am sure no one knows who binod is similarly no one knows who Mr. Satoshi Nakamoto is well.

What is the advantage of Bitcoin.

I'll tell you, I can just compare it something like this that we have promoters for a company similarly the promoter of this bitcoin is like Mr. Satoshi Nakamoto. Now, I can imagine that if something happens to the promoter of the company then what will happen to the share prices of that company. They want to go down drastically similarly, if something happens to Mr. Satoshi then what but we don't know whether he's alive or not also so that danger is anyways away right.

How does Bitcoin transaction work?

I hope you have understood, what is bitcoin very nicely now one or two more fun facts about bitcoin. What do you think, how is the supply of Indian rupee is it limited or unlimited, correct answer is it's unlimited. Whenever government wants it can print more and more Indian rupees.

What about bitcoins is the supply limited or unlimited, the supply of bitcoin is limited. There are exactly 21 million bitcoin all over the world, but out of that in circulation there are 18.6 million approximately bitcoins which are in circulation right now. Now let us move on with how a bitcoin transaction actually takes place right, so let us say our example where a transfers bitcoins to (b) that's where a new transaction will be entered.
Now, what happens this transaction will have to be verified by someone like you remember the bank example if a sends money to (b) then there'll be a bank in between that bank will verify this transaction but in bitcoins in crypto do we have any intermediary , no intermediaries there then who will verify this transaction.
Now you'll imagine there are thousands of individual in this world, who are there who are want to verified your transaction. These people are called as miners.
Now, what happens is that whenever a person sends bitcoin to (b), no one will say that in plain English that will be written in some cryptic language. Now you'll imagine that this is like mathematical problem. Which someone can see something like that, now these miners who are all over the world thousands of people who are all over the world, they will try to solve this maths problem. when this now big question how will they solve this using pen and paper, no using a normal laptop, no all these are very like very very high powerful computers. They'll require super computers very high computing power computers will be required to actually solve these mathematical problems.

Now, they solve this problem what will happen is they will have to come get something in return as a reward that is where we say that they are mining the bitcoin. So in simple words someone is verifying the transaction or free of cost, some reward will have to be given to that person at that reward is in the nature of giving him more bitcoins but these bitcoins are mined no one will transfer bitcoin to them as such.

Why you Invest in Bitcoin?

Now, the big question should one invest or not. First you have to understand, how volatile bitcoin has been in the past and also in the present. Just to give you a few stats in December 2017, it had touched then high around 19 000 dollar (value in Indian market is 1378070 rupees) for one bitcoin, then it went down and down and down entered into a bear market and it touched a low of almost 4 000 dollars (value in Indian market is 290120 rupees) per bitcoin.
In March 2020 and since then like stocks have rallied like anything even bitcoin rallied a long way to believe it or not roughly 42000 dollar per bitcoin (value in Indian market is 3046260 rupees) . Currently, I write is article the bitcoin is trading around 36 000 dollar (value in Indian market is 2611080 rupees) for one bitcoin. So, I hope by now you might have understood that it is a very volatile cryptocurrency.

Now the big question that, how on earth will, I be able to invest even for one bitcoin. It is possible, you need not buy one bitcoin, can you buy it in fractions, yes.
For example can you buy 0.1 share of reliance industries, no you can't but can you buy 0.1 bitcoin, answer is yes so buying infractions is allowed but then the big question is that, whether i should buy bitcoin or ethereum or any other cryptocurrency for that matter out of all this. Which should i choose i think that like, i say in stock market don't go for small caps, go for large caps. Which are comparatively known which have a proven diary similarly, if i'm talking about cryptocurrencies. Bitcoin is a cryptocurrency which has the largest market cap and alone bitcoin has more than 65 percent of the total market capitalization of all cryptocurrencies put together but then.
If you ask me my personal opinion, I would want to invest a small amount of money. Which, I always call as a party fund that will depend on everyone's risk appetite so for me it can be 5000 rupees, for you it can be 10 000 for someone else it could be 500 rupees also, so that depends on how much risk you are ready to take that can be a small amount with which you may start your journey in investing in cryptocurrencies.