Do you know how bitcoins make money online?

The value of every bitcoin follows the law of supply and demand in the world. As the demand waxes and wanes, there is numerous volatility in the price of the cryptocurrency online. Any user’s bitcoin can also be converted into another local currency to transfer them such as converting BTC to INR.

Apart from the mining of bitcoin, which require some technical expertise and also a proper investment in the high performing computers devices, many numbers of users tend to purchase bitcoins in the form of currency speculation betting that the value of your currency in bitcoins will be higher in the future than it is at present. The bitcoin price will never remain the same it always changes.

mining of bitcoin

Storing bitcoins in hot wallets or cold wallets

You can easily store bitcoins in the two types of digital wallets online. These are as follows- 

First is a hot wallet– this type of bitcoin wallet in which a digital currency can be stored in the cloud on a trusted exchange and, can be accessed via a computer browser or a smartphone application.

The second is a cold wallet– this type of bitcoin wallet is an encrypted portable device that is like a thumb drive that allows the user to download and carry their bitcoins.

The hot bitcoin wallet is connected to the internet but, a cold wallet is not. But, you require to have a hot wallet to download the bitcoin into a portable type cold wallet.

If you are searching for converting your rupees into bitcoins then you will want to get a good value for your money and you can do this at the free bitcoin website. It is very worth looking at the bitcoin price that is offered by different exchanges.