From Hesitation to Education: The #KnowBitcoin journey

Let’s demystify the digital asset that’s captivating investors worldwide. By the end, you’ll go from saying no to Bitcoin to knowing Bitcoin, like never before.

Embarking on Your Bitcoin Discovery

Ready for an eye-opener? Point 9 will change the way you view Bitcoin forever.

What is Bitcoin?

Bitcoin is a decentralized digital asset designed to work as a store of value. It operates on a blockchain, ensuring security and transparency.

How does Bitcoin work?

Bitcoin operates on a blockchain, a public ledger that records all transactions. Miners validate and add transactions to the blockchain through a process called mining. Watch our Detailed Video in Hindi on: How Bitcoin Works?

Who created Bitcoin?

Bitcoin was created by an individual or group using the pseudonym Satoshi Nakamoto in 2009. Watch Now: Bitcoin History Explained in Hindi

How does Bitcoin gain value?

The value of Bitcoin is determined by market demand and supply, similar to other assets. Thus, if the demand for Bitcoin goes up in the market, consequently, the value of Bitcoin goes up too.

Can I buy Bitcoin for ₹100?

You can buy Bitcoin very easily for ₹100 on an FIU-compliant crypto exchange like CoinDCX.

What should I consider before investing in Bitcoin?

Consider your investment goals, risk tolerance, the volatility of the Bitcoin market, and the importance of not investing more than you can afford to lose. Opt for a reputable crypto app. Watch video on: How to do Crypto Research? [in Hindi]

Investing ₹1000 in Bitcoin 10 years ago would be worth how much today?

Assuming you invested ₹1000 in Bitcoin back in 2014, when 1 Bitcoin was worth around ₹61,000 and considering the current value of about ₹35,00,000, your investment would have increased to approximately ₹58,000. Watch the detailed video here.

What is the future of Bitcoin?

Determining the future of Bitcoin’s price is a speculative activity, but considering recent trends, Bitcoin has emerged as an investment-worthy asset class. The launch of the Bitcoin ETF in the USA is also seen as a significant milestone in shaping the future of Bitcoin.

Is Bitcoin legal?

Bitcoin’s legality differs from region to region. In India, investing in Bitcoin or trading using Bitcoin is legal, but it is illegal to use Bitcoin as a mode of payment. Read more in detail here

What is the current price of Bitcoin?

The current market price of Bitcoin is around $71,650 or approximately INR 62,74,000 as of 12th March, 2024 around 2 p.m.. View: Live BTC Price

How is the market cap of Bitcoin determined?

The market capitalization of Bitcoin is determined by multiplying the current price of Bitcoin and the total number of Bitcoin in circulation. Read more on: BTC Market Cap History

What is the difference between Bitcoin and other crypto tokens?

Bitcoin is the first and most well-known crypto asset, while altcoins refer to alternative cryptos like Ethereum, Litecoin, and Ripple. Watch Video in Hindi on: Bitcoin vs Ethereum

What impacts Bitcoin's price fluctuations?

Bitcoin’s price is influenced by factors like market demand, macroeconomic trends, regulatory developments, investor sentiment, technological advancements, and supply dynamics. The limited supply of 21 million coins and external events, such as geopolitical tensions, can also contribute to the volatility in Bitcoin’s price.

What is Bitcoin halving?

Bitcoin halving is an event that occurs approximately every four years, reducing the reward miners receive for validating transactions.Read more on: Bitcoin Halving

Is there a maximum limit to the amount of Bitcoin?

Yes, there is a capped supply of 21 million Bitcoin, making it a deflationary asset. This means there can only be 21 million BTC ever, and after a point, there will be no more BTC to mine, estimated to be around the year 2140.

What is a Bitcoin ETF?

A Bitcoin Exchange-Traded Fund (ETF) is a financial product that tracks the price of Bitcoin and allows investors to gain exposure without owning the crypto directly. More recently, Bitcoin spot ETFs were approved and launched in the United States by institutions like Blackrock, Bitwise, VanEck, and eight others.

What are the biggest mistakes people make while investing in Bitcoin?

The biggest mistakes include not conducting proper research, succumbing to FOMO (Fear of Missing Out), seeking unrealistic gains in the short term, and investing because someone you know is investing without doing your own research.

How do I avoid Bitcoin scams?

Be cautious of unsolicited offers online, use reputable and compliant crypto apps like CoinDCX, and verify the legitimacy of projects before investing. Read more on: How to avoid Common Crypto Scams

How do you determine the intrinsic value of Bitcoin?

Bitcoin’s intrinsic value is subjective and debated. Some argue its scarcity, security, and potential as a store of value contribute to its intrinsic value. However, it demands newer valuation metrics instead of traditional ones.

How much tax will you pay on Bitcoin?

In India, trading or investing in Bitcoin does attract taxes – there is a 30% tax on all profits gained from trading Bitcoin and other crypto assets, and a 1% TDS is levied when Bitcoin or any other crypto asset is sold on any crypto app.

#KnowBitcoin Terms and Conditions