Is BITCOIN Good for investment in India?

First of all,
 lets discuss what are cryptocurrencies?
Cryptocurrencies are digital currencies used to regulate and verify the transfer of funds,operating independently of a central bank. 
Examples:-

1.  Bitcoin(5,89,845.15 or $8492.59 per coin.)  
2.  Ethereum($117 per coin.)
3.  Lite coin($32 per coin)
4.  Ripple($0.23 per xpr token)
5.  Dash($443 per Dash)

Now,lets discuss about Bitcoin which has the greatest value among those cryptocurrencies.

What is a Bitcoin and who invented it?

Bitcoin is basically a type of computer file or you can say that it is a digital currency which can be easily sent to your wallet or you can send it someones else wallet. every single transactions is recorded in a public list called block chain. Block chains are also used to keep a track of the existence of Bitcoin.

Bitcoin was invented by Satoshi nakamoto. He was an individual or a group no one knows it.

He logged in with the account named satoshi nakamoto. The whole world knows this much only about the name.

Here arises a very big question that

  Whether Bitcoins can be converted into cash?

So it is a big yes,There are too many possible ways to convert bitcoins to cash and ultimately move it to a bank account;Sell Bitcoin on a cryptocurrency exchange,such as Coinbase or Kraken. These are the easiest method to sell Bitcoin and withdraw the resulting cash directly to a bank account. You can also use a Bitcoin ATM.

Could Bitcoins be cold storage?

This cold storage refers to store bitcoins offline.

So the answer is yes we can use cold storage for bitcoins

1. We can store it on a USB drive or other storage media.
2. We can store it on a paper wallet.
3. We can also use a offline Bitcoin hardware wallet.

Now the biggest questions among all others that is,

Is bitcoin good for investment in India?

The answer is neither yes nor no. Here there is a contradiction.

Because once in India on December,24,2013 Indian Central Bank, The Reserve Bank Of India(RBI)

announced a ban on the cryptocurrency for firm those are regulated by RBI.

And also other countries banks banned such currencies, such as,on 7,April,2018 National bank of pakistan announced ban on cryptocurrencies.

But in countries like USA Bitcoin are legal.So in such countries investment on that could be good .

Is use of Bitcoin safe in India?

So the answer is a big no,the people who buy Bitcoins they have a great risk of loss.

And the most important part,the cryptocurrency market is not regulated in India.

So if you lose money in a bank, you can complain to the bank manager but in case of bitcoin you cannot get your money back.

So if you liked the article please follow and suggest some topics in the below comment section?

Thanks for reading the article.