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Is bitcoin a good alternative investment?

29, June 2017 | Vikash Shing

A form of digital currency or digital asset, bitcoins are an alternative investment, which investors create and hold in electronic form. The best part about bitcoins is that no one controls them and they can't be printed like currencies such as INR, Dollar, and Euro. This is that makes bitcoins a unique investment option. Unlike traditional currencies, bitcoins are a payment network in themselves and form a highly lucrative alternate investment option. Right since the time they came into existence in 2009, Bitcoins have enjoyed a joy ride as a successful alternative investment instrument globally. That fact that no other currency or commodity has ever seen such a price hike stands testimony to the growing success of bitcoins as an investment instrument.

As of August 2016, bitcoins worth around $9.1 billion were under global circulation. In fact, the Bitcoin value breached an all-time high by going past $1,500 on May 04, 2017. This price-hike tendency of bitcoins has begun attracting many traders and investors in India as they view it as a potential money spinner. That said, in case you want to take advantage of bitcoin as an alternative investment, you need to familiarise yourself with the alternative network of Bitcoin exchanges in India. The top four Indian Bitcoin exchanges where investors can buy, sell, transfer, and invest in bitcoins include BTCXINDIA, Unocoin, Zebpay, and CoinSecure.

Bitcoins have become an even more popular alternative investment instrument in India in the wake of demonetization. The day the government of India took the demonetization decision, bitcoins were priced at around Rs. 52,000 on leading trading Indian exchanges such as Unocoin and Zebpay, which was 10% above the international cost of one bitcoin of Rs. 46,942. Moreover, Bitcoins currently trade in the range of Rs. 63,000-64,000 in India, with the international price hovering around $740, which is approximately Rs. 51,000), clearly showing that Indian bitcoins have been trading at 25% premium.Thus, given the demonetization move of the Indian government coupled with the growing global demand for bitcoins, one cannot deny the fact that they area popular digital currency on Indian exchanges and a lucrative alternative investment option as well. 

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