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How to invest in crypto currency and how people are earning money
What Is Crypto Currency
Like different countries of the whole world have different currency and similarly crypto currency is also a currency which is not controlled by anyone and we call it digital currency like we call the currency of different countries of the world. Just like the United States currency is called dollar and the Indian currency is called INR, in the same way, crypto currency is also a universal digital currency, in which many currencies come like Bitcoin, Ethereum, Ripple and there are also 6-7 thousand currencies.
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Why did the need to create a cryptocurrency
This is in 2008, when there was a huge financial crisis inside America and a lot of people’s money was drowned in it, the effect was on the whole world and in 2008 there was a huge crisis in the stock market, due to which people’s money was drowned. Companies ran away with money
At that time someone thought that it is going wrong to take the money of people’s hard work, then a person thought that I will make a currency whose control is in the hands of the man himself, who has that money and goes to the company or something. Even if the money stays with him
If the money of people’s hard work will sink like this, then one person thought that I will make a currency whose control will be in the hands of people, which we call digital currency, one person thought that I will do such work in the whole world and by changing the world Let’s do this, I have made a digital currency in it whose name is bitcoin.
Full Form Of Crypto Currency
Cryptocurrency = Crypto + Currency
Crypto – Confidential
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That Means Secret Money
No one can see this currency, only that person can see what the person sends and the person who receives, apart from this no one can see this currency
Who Created The Crypto Currency
This currency was created by a person named Satoshi Makamoto, but let us tell you that till date this person has no idea where he is, where he lives, there is no such information, this person is only after making this crypto currency. Do not know where he disappeared
How To Invest In Crypto Currency
Understand how people invest money in this and how they are becoming rich and people are earning crores.
When the first cryptocurrency bitcoin was discovered in 2009, it was worth nothing and no one even knew what bitcoin was when its price was equal to 0
When slowly people came to know that bitcoin is also a currency and people buy and sell it and people are earning money from it.
It is a matter of 2010 when the price of 1 bitcoin in India was ₹ 2.85 but today you will be surprised to hear about it, because ₹ 2.85 paise bitcoin is being sold today for 3300000 rupees and the high price of this bitcoin is yet 45 lakh rupees
How People Are Making Money From Crypto Currency
To understand this, if a person bought even 1 bitcoin in 2010, then today its price is ₹ 3300000, that means its price is increasing day by day, at that time a person must have bought and kept bitcoins worth ₹ 2 85 paise. If it is not sent, today the price of one bitcoin is equal to 33 lakhs, so this is called profit in crypto currency.
Why Is The Price Of Cryptocurrency Rising
How does the price of any crypto currency increase, so the whole formula is that the price of crypto currency increases and decreases depending on the demand and supply.
As the demand for bitcoin or crypto currency increases, so does the size of the crypto currency and when the demand decreases, the price decreases.
When a person named Satoshi Makamoto created bitcoin, he made $21 million in bitcoin and I made less and not he made more and now $19 million bitcoin has come in the market.
The price of bitcoin is so big that big companies started investing money in it and big people used to say that the coming time is the future and people started investing in it while listening.
For example, elon musk who invested a lot of his money in crypto currency, when people saw elon musk is investing money in crypto currency, then more people also started investing money in it.
But a few days ago, Elon Musk told that they do not accept cryptocurrency as a legal tender and hearing this, there was a stir among the people and all the people started selling crypto currency and due to this the price of cryptocurrency came down. At present the price of crypto currency is 3300000 while the highest crypto currency was Rs 4300000.
Crypto Currency Profits And Losses
Talking about crypto currency profits and losses, when someone would have bought bitcoin worth Rs 4300000, then its price has come down to Rs 31 lakh today, that means there was a direct loss of Rs 110000.
Crypto Currency Legal In India Or Not
Crypto currency is legal in India at this time but no future is known please currency is legal for trading in India
6 April 2018 RBI had banned crypto currency but in 2020 again crypto currency has been banned and said that you can use crypto currency for trading but this cryptocurrency is not a legal tender
What Is Legal Tender
Legal tender means that RBI has issued money for everyone’s use and with that money we can buy anything anywhere but we cannot buy anything in crypto currency, it is a digital currency, we call it a Can transfer from place to place but we can get money in return
Advantages of Crypto Currency
I am not on any video in crypto currency, as you want to transfer, then both people know, apart from this no one knows
Like when money comes to you in the bank of another country, then you are asked a lot of questions in the bank, what is the use of money, where has it come from, who has sent it, but there is nothing like this in crypto currency, send it anywhere. You will not be asked any questions and answers because in this only the sender and the receiver know and sending this crypto currency to each other is very easy and it is sent quickly.
Crypto currency is global money, without anyone’s permission, you can send it from one country to another, your relative or anyone.
In this, the transaction is very less, whereas if you take dollars in Indian, then a lot of tax is deducted, so you can do the transaction easily and the transaction is also done quickly.
What Are The Disadvantages Of Crypto Currency
If you have sent crypto currency to anyone by mistake then you cannot find out to whom you have sent it means that it is confidential money no one can see and no one has rights on it
Cryptocurrency has started being used for wrong purposes because it is not known who is sending it to whom it is coming, so many terrorists have started using it for wrong purposes.
No one knows when its value goes up and when it goes down and when it becomes zero.
Just told you above that just as no one is in the middle between two transactions, then you will think that how these transactions happen, then tell you that these transactions are done through block chain.
What Is Cryptocurrency Blockchain
There is a blockchain in which all the data of every transaction you do remains with the secure transaction and as soon as the list of transactions is filled and another chain is created, then the data is filled inside that chain, then you do the transaction and then another. becomes at peace
Crypto Currency Mining
One thing also comes in between these things, what is mining, mining is a transaction that happens between two people, so it is not that you took money and gave it to that person, it is only crypto currency digital currency which is That is in the format of coding, which no one can change, then when you send it like this, then how do you go, then there are minors sitting in the middle who change that coding and transmit it to another person.
What is the benefit to you who do this mining, then those who change this coding, they get the benefit that in return they get a little crypto currency.
If we talk about making crypto currency, then anyone can make this currency, there are many currencies in the market, there are more than 7 thousand currencies, out of which many currencies are of no use.
The most useful crypto currency is 6 or 7 which is bought and sold the most, 80% of all currency o is surrounded by these 6 and 7 currency
Should I Buy Crypto Currency Or Not
If we talk about 2008, then the person who would have bought bitcoin of ₹ 2.85, the price of that bitcoin today is Rs 3300000, then let us tell you that it is not legal when you invest money in cryptocurrency, you expect the way you think. Whether the price should increase or decrease, then you have to do it thoughtfully whether you have to invest money or not.
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