5 Simple steps to Buy Bitcoin in India | 2024
What is Bitcoin?
Bitcoin is a cryptocurrency invented to play a role like a traditional currency to buy or exchange any goods, products, etc but here it acts without trusting any third party control like a bank.
It is a virtual currency, we can buy this in any crypto exchange platform. Also it is rewarded to blockchain miners who are involved to verify transactions.
Who Invented Bitcoin?
Satoshi Nakamoto created Bitcoin in 2008. He announced that he has created an electronic cash peer to peer transaction system with no trust third parties. Also he published a white paper about bitcoin.
Block and Rewards:
Jan 3 2009 was the first block created. Each block is rewarded by bitcoins. For every 210000 blocks bitcoin halving occurs For example the block was rewarded 50 bitcoins, when third halving occurs the rewards are reduced by 6.25 bitcoins on block mining. And the fourth halving occurred then the rewards became 3 bitcoins to each block.
How to Buy Bitcoin in easy 5 steps?
If you're not interested in mining Bitcoin, you can purchase it through a cryptocurrency exchange. Given the high price of a single Bitcoin, most people may not be able to buy a full BTC, but it's possible to buy fractions of a Bitcoin using fiat currencies like U.S. dollars on these platforms.
For instance, on Koinpark, you can buy Bitcoin by setting up an account and funding it with a bank transfer, credit card, or debit card.
Here are the 5 easy steps to buy bitcoin on koinpark.
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Sign-Up on the Koinpark Platform
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Secure your account by verifying your email address
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Complete the KYC process
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Add funds to your Koinpark wallet
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Finally, buy BTC on Koinpark
To learn more detail about the process of buying Bitcoin in easy 5 steps
Click the link here: https://www.koinpark.com/blog/guides/how-to-buy-bitcoin-in-india
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