How Much Does 1 Bitcoin Cost?
Bitcoin’s value constantly fluctuates due to its 24/7 trading nature, influenced by global demand, market sentiment, and other factors. As of November 2024, 1 Bitcoin (BTC) is valued around ₹8,000,000–₹8,200,000 (INR), depending on the exchange and market activity
Factors Influencing Bitcoin's Price
1. Market Demand: High interest from institutional investors, retail buyers, and emerging markets increases Bitcoin's price.
2. Regulatory Announcements: Positive or negative crypto regulations globally impact Bitcoin's value.
3. Supply Scarcity: With a maximum supply of 21 million coins, scarcity drives up its price over time.
4. Macroeconomic Trends: Inflation, geopolitical events, or changes in fiat currency valuation influence Bitcoin's adoption and price.
Can You Buy a Fraction of Bitcoin?
Yes, Bitcoin is divisible into smaller units called satoshis, with 1 Bitcoin equal to 100 million satoshis. This makes it possible to purchase Bitcoin for as little as ₹100 or even less, depending on the platform.
Where and How to Buy Bitcoin
1. Crypto Exchanges: Platforms like Binance, Coinbase, and WazirX allow users to buy Bitcoin using fiat currency or other cryptocurrencies【94】【95】.
2. Peer-to-Peer (P2P) Trading: Enables users to buy directly from others.
3. Bitcoin ATMs: Available in some regions for direct purchases using cash.
Storing Bitcoin
Once purchased, Bitcoin can be stored in:
Hot Wallets: Connected to the internet, suitable for active trading.
Cold Wallets: Offline storage, ideal for long-term holders.
Would you like to know more about setting up wallets or tracking Bitcoin prices in real time?
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