Cryptocurrencies like Bitcoin have a special event that happens every four years called “halving.” This guide will delve into what it is, why it matters, and specifically address how to buy Bitcoin in India.
What is Halving in Cryptocurrency?
Every four years, Bitcoin experiences a phenomenon known as “halving.” This event reduces the number of bitcoins miners receive for adding new blocks of transactions to the blockchain by half.
This not only makes Bitcoin scarcer but also tends to push its price up, making it an exciting event for investors.
Bitcoin Halving Timeline
- 2009: Miners received 50 bitcoins per block.
- 2012: The reward halved to 25 bitcoins.
- 2016: It further dropped to 12.5 bitcoins.
- 2020: The reward was 6.25 bitcoins.
- 2024 Predicted: The reward will decrease to 3.125 bitcoins.
As the reward decreases, the scarcity of Bitcoin increases which historically has led to an increase in BTC to INR value.
If you’re interested in how to buy Bitcoin in India, follow these steps:
- Choose a Global Cryptocurrency Exchange: Register on a platform like Koinpark, which is considered a reliable global cryptocurrency exchange.
- Buy BTC: Navigate to the buy/sell page on the exchange and select the buy BTC option.
- Payment: Link your bank account and transfer funds to buy Bitcoin.
- Secure Your Bitcoin: Use the wallet provided by the exchange to securely store your Bitcoin.
History of Bitcoin Halving and Coin Listing
- November 2012: Post-halving, the Bitcoin price surged from $12.20 to $127 in 150 days.
- July 2016: The price rose from $633.40 to $758.81 post-halving.
- May 2020: Following the halving, the price increased from $8,730.40 to $10,943.
These significant price movements have often coincided with increased interest in Bitcoin on global exchanges and heightened activities around coin listings, which attract more users to the platforms.
Conclusion
This overview provides you with the necessary details on the cyclical phenomenon of Bitcoin halving, its impact on BTC to INR prices, and guides on how to buy BTC in India.
Whether you’re looking to get started with a global cryptocurrency exchange or just curious about the process, understanding these elements can significantly enhance your trading experience.
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