WHAT IS BITCOIN?
As the name suggest, it is a type of currency. yes, it is a currency but different from the currency you have ever used. Bitcoin is a digital currency which is programmed by a programmer or group of programmer under the name of Satoshi Namakoto. It can also be said as a digital payment system. The software used in it is an open source software. We know that all the currencies follow the central authority and issuers but bitcoin avoid it. Evolution of Bitcoin in India, Trading & Price is discussed in this article.
WORKING WITH BITCOIN
Evolution of Bitcoin in India, Trading & Price is discussed in this article.Bitcoin can be saved on personal computers in the form of wallet file. Every bitcoin have its bitcoin address, so, in case if needed then, Bitcoin can be sent through the internet to anyone using bitcoin address. It uses digital signatures to transfer money from one account to another account. All transactions are public and stored in a distributed database which is used to confirm transactions and prevent double-spending in this bitcoin system.
EVOLUTION AND TRADING OF BITCOIN IN INDIA
India has a full and compliant bitcoin exchange called BTCXIndia which feature a live trading platform and wallet service in India which launched officially on 5th May in the southern city of Hyderabad. Bitcoin is a cryptocurrency, unlike anything the world has ever seen. It is called a cryptocurrency because it uses cryptography to control the creation and transfer of money. Despite the name, there is no physical coin to use, It is a completely electronic form of money.If you want to send or receive bitcoins you will need to have a bitcoin address as told earlier. You can get a bitcoin address either by downloading the Bitcoin client or by getting an online wallet. The two most popular BTC clients are Bitcoin-qt and Multibit. Similar to current bank accounts, you can receive bitcoins to your bitcoin address even if you’re offline. When you want to ‘’collect’’ your coins, you must have an internet connection.
BITCOIN PRICE IN INDIA
One bitcoin on the Indian exchange Unocoin is worth 181775.32 rupees. The Indian can start with unocoin by following some procedure to access Bitcoin like – registration, verification and then you get verified the account. after these steps you will get a wallet. now you can start receiving bitcoin in your wallet, you can buy, sell, receive or send your bitcoin on this unocoin wallet.