Do you know 70% of America’s population invest their hard-earned money in their stock market! Whereas only 2 to 3% of the Indian population invest in the stock market. This might be also the reason for having the world’s strongest economy in the world. So today we are going to talk about some of the trending shares among the world which has no original existence. Yes, you guessed it right it is Bitcoin and other altcoins. If you don’t know what is altcoin, these are the coins that came into existence after Bitcoin. So, let’s get started with What is Bitcoin? Should we invest?
Origin of Bitcoin
On 18 Aug 2008, a domain name got registered called bitcoin.org. Therefore next year on 3 January 2009 Bitcoin came into existence. Created by Satoshi Nakamoto. The Valur of the first transaction by bitcoin was negotiable. !0,000 bitcoins ere you to buy 2 Pizzas indirectly. Now we will be looking to the growth of bitcoins from where it started.
1 Bitcoin is Equals to?
|DATE||USD: 1 BTC|
|Jan 2009 – Mar 2010||basically nothing|
|Feb 2011 – April 2011||$1.00|
|22 Dec 2017||$13,800|
|7 Dec 2018||$3,300|
|27 Dec 2020||$28,000+|
|10 April 2021||$60,000|
What is Altcoin?
An Altcoin is an alternative digital currency other than bitcoin. The world altcoin can be divided into two parts ” alternative ” and “coin”. Yes, the name only tells that these are digital coins other than Bitcoin. Examples of some altcoin are- dogecoin, Ethereum, XRP, Tether, etc
As of January 2021, ether’s market cap is roughly 19% of Bitcoin’s size.
As of January 2021, Litecoin had a market cap of $10.1 billion
As of January 2021, Cardano has a market capitalization of $9.8 billion and one ADA trades for $0.31.
In January of 2021, Tether was the third-largest cryptocurrency by market cap, with a total market cap of $24.4 billion and a per-token value of $1.00.
So the Question Comes, Should We Invest In Bitcoin?
See, first of all, bitcoin is not legal in India. That too government is planning to ban it. But for time being you can invest in Bitcoin for a short period of time as if 1 year. This is because Bitcoin has no base it can touch skies and can be crashed in a second. Therefore you can earn profit in a short period. If you invest a small amount even you would be at a loss because these are the coins that require a good investment.
If you don’t have enough money to invest in You can do Bitcoin mining. But that to require some special equipment. You can do mining on your old phone which you don’t use. Or a pc with good specifications. But mining does consume a lot of electricity and you would end up paying a huge amount of electricity bill.
So, guys, this is the end of the article. I hope you must have got some information about Bitcoin and whether to invest or not. Subscribe to our newsletter to always get updated on new articles and trending technology. Till the time STAY, SAFE AND STAY AT HOME.