How to Buy Bitcoin in India? | What is Bitcoin? | Revealing My Crypto Portfolio!

if you invested 1 000 rupees one year ago in nifty or sensex you would right now be having roughly about two thousand rupees similarly if you would have invested one thousand rupees into bitcoin about one year ago you would now be sitting at about 12 000 rupees isn't that crazy i will be talking about how i invest into bitcoin and why do i invest into bitcoin i will also be trying to clear your misconceptions about bitcoin in general what if it gets banned and all that so i will try to clear those now two things to understand here number one bitcoin is quite volatile so you must do your own research don't do it because i am doing it and number two i am not a financial advisor so uh keeping that aside now let's talk about why do i believe in bitcoin and why am i investing in it so understand one thing i don't think there is a hundred percent transparency in the banking system that we have right now okay there have been so many instances in which we have found inconsistencies there have been some huge scams you know you have the nina of modi scam you have vijay malia scam and there are tons and tons of these you will hear every once in a while they happen because the banking system that we have right now is prone to human greed okay so uh officials can be bribed and then some shady stuff can happen without you even knowing it and now the second reason why i invest in bitcoin is because of the fact that the money that you have stored in your bank account or the money that you have in your pocket is not backed by anything really okay so what happens then is that governments can print unlimited amounts of money as they want i want you to look at this interview of jared powell and he was asked can the federal reserve print unlimited amounts of money this is what he had to say simply flooded the system with money yes we did that's another way to think about it we did where does it come from do you just print it we print it digitally so we you know we as a central bank we have the ability to create money uh digitally and we do that by buying treasury bills or or bonds or other government guaranteed securities and that that actually increases the money supply we also print actual currency and we distribute that to the federal reserve banks so as you can see he just said that they can print as much money as they want in 2020 they printed over 8 trillion dollars and they basically did this so that they can stimulate the economy and they can bring it back to normal now as a result of this crazy amounts of money printing there is something called as inflation that happens uh if you are curious to learn more about this i will be leaving in a lot of links in the description that you can use to educate yourself about all of these things now let's talk about bitcoin okay so bitcoin is limited in quantity there is only 21 million bitcoins in total out of this about 18.6 million bitcoins are mined so far and uh basically the thing that is limited has value right why does gold have value because it is limited and every single year we can predict that okay about one percent more gold will be mined or two percent gold will be mined something similar we can do with bitcoin and so there is no central authority that can just print x amount of bitcoin out of thin air right so that's what you need to understand about bitcoin it is limited in quantity and it is decentralized and basically if you want to make some changes into bitcoin there has to be a general consensus okay so more than 50 percent population agrees on to changing something in bitcoin only then it will be changed okay so it's actually the currency that is for the people by the people okay that's the interesting part about bitcoin that's why i am interested into it now understand one thing i have researched a lot about bitcoin and that is why i have invested into it you should also research before you do anything like that it is a highly volatile asset because it's quite early right now and a lot of people are skeptical about it now let's talk about the bitcoin ban in india so is the ban going to happen i think we don't know right so basically what happens is that this was a bill that was passed in the parliament and we still don't know what the end result is going to be there are discussions going on but the news articles have done a really bad job of saying that bitcoin is banned take your money out of the cryptocurrencies and all that is not the truth yes there is a bill but it has not been finalized yet okay so that's what you should understand don't get fooled by these news articles and all that don't sell just because you've heard some rumors now one more question people had is that bitcoin is so expensive how can i buy it you can invest for as little as 300 rupees you don't have to invest like 40 lakh rupees in just one go now understand this one thing even though i have researched about it i only invest about two to five percent of what i normally invest so that's what i do i am a believer into it that is why i invest but i don't go all in saying that okay i'll invest 100 into this no that's not what i do now bitcoin is highly volatile so if you don't like uh let's say you put in a thousand rupees today and tomorrow it goes down to let's say 500 rupees and uh if you go crazy by just seeing that you should not invest into bitcoin it is highly volatile anything can happen uh yes we do have a lot of uh companies that are buying into bitcoin like tesla and other ones but it is still quite volatile so that's just one thing to keep in mind do not you know keep checking the market price of bitcoin and be afraid of what is going to happen next and all if you believe in it you should hold it for as long as you can now one thing to understand is that why do people say that bitcoin is going to go to 500 000 currently the price is at about i think 60 000 us dollars and that is about 45 lakh 44 lakh rupees people believe that it is going to go to 500 000 now to understand this think about it like this so you have gold right so gold has a total market cap at about 10 trillion dollars or about 12 trillion dollars now bitcoin on the other hand has about a market cap of i think 1.2 trillion dollars the last time i checked and we believe that bitcoin is superior than gold okay bitcoin is the digital gold and it is superior to gold so we can say that in the future it can touch 12 trillion dollar market cap okay we don't know when that happens we don't know if that happens but we have an estimation that it might happen so now what happens is that for bitcoin to become 10x more valuable it has to uh go from 60 000 rupees or sixty thousand dollars per bitcoin all the way up to six hundred thousand usd per bitcoin or five hundred thousand usd per bitcoin okay you can just divide ten trillion dollar twelve trillion dollar by twenty one million and you will get this number so that's what people believe uh it can be going down to zero as well you don't really know about it now i will be linking a lot of documentaries a lot of articles a lot of tweets that you can refer to if you want to learn more about bitcoin and ethereum particularly now let's talk about how do i invest into bitcoin so this is really interesting i personally use fuzzy x this is not a sponsored video um this is what i have used i just logged into azure x and i think it works i don't know if other platforms work or not but i know that this works really well for me okay so this is what fuzzy rex looks like as you can see on your screen if you want to make your own account on the wazerex exchange you can check the link in description if you want to get started with that but yeah basically what you can do is that here you can see the prices of every single cryptocurrency out there now i personally only invest in bitcoin ethereum and cardano um and mainly i just believe in bitcoin and ethereum so far i don't have knowledge about other cryptocurrencies i am learning about it and uh that's what i would say okay so this is bitcoin right here you can see its price is fluctuating anywhere between 43 to 44 lakhs right now now let me show you what happens basically you can just buy bitcoin whenever you want to you can just go over here uh in the buy section and you can put in how much do you want at least i'll have to put in about 439 rupees right there as you can see okay and then yes there is going to be some fees as well right here okay so that's what you should understand about this one i don't want to buy right now i'll be buying at the dip okay now let me show you how much have i invested so far right so i'll go into the fund section right here and as you can see this is the amount that i have invested okay so if you look at ethereum i have invest about 0.154 ethereum that's basically this much amount of money then you can look at bitcoin as well this is how much i've invested into that and if you look at cardano this is how much i've invested into that as well now one thing to keep in mind is that i invest in these things to invest for the long term not for the short term i don't want to do trading or something like that i invest and i just forget about it and also i do an sip into cryptocurrency so basically every single month i just put in about 10 000 rupees into all of them and i have like a 50 50 share that okay i'll invest 50 percent into bitcoin 50 into ethereum so that's what i do right here now one thing to understand is that i also use something called as block file so block file i think is a great platform in which you can open your account and once you have opened your account you can actually put your bitcoin or ethereum or whatever cryptocurrency you have and it will give you an interest rate just like the one that you get in your savings account in your bank all right so as you can see this is what i have invested into uh block five basically as you can see it's about 81 dollars right here and i have invested about 0.04 ethereum into it okay so every single year they have an interest rate of about six percent seven percent of uh whatever cryptocurrency you have invested okay so i think this is really interesting um as you can see this is how much i have earned so far this is the interest and this is the accurate interest really interesting stuff if you want to make your own blog fi account i will have the link in the description for you to get started this is my complete bitcoin or cryptocurrency portfolio and i have learned a lot in the process and you should also do your own research before investing as always all right guys that's pretty much it this was the video make sure that you hit the like button and subscribe to the channel and let me know in the comment section what do you think about bitcoin do you think it's going to stay here or do you think it's going to go best i would like to hear your uh you know viewpoint on this make sure that you also follow me on instagram at ishan sharmas90 and i hope to see you in the next video bye

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