Bitcoin gained popularity in early 2017, and it became the first cryptocurrency to be actually used. Bitcoin is decentralized and readily available.
Digital Currency News: The leader of the cryptocurrency market, Bitcoin, has set many records in the digital trading system. Virtual i.e. digital coins, which have no central bank and no controller, opened the door to making quick money. Now, this digital coin is an innovative payment network and a new type of currency in the blockchain industry. Such is the allure of this mysterious bitcoin that many are planning to receive it as a salary. However, whether this is a good option depends on several factors.
Trading in bitcoin started in 2009. No one knows who invented this digital coin, however, many speculations and names have emerged. Satoshi Nakamoto is believed to be a person pseudonymous as the inventor of bitcoin, or a person claiming to be based in Japan. However, they have not been confirmed yet.
Beginning in 2017
Bitcoin gained popularity in early 2017, and it became the first cryptocurrency to be actually used. Bitcoin is decentralized and readily available. Although the idea of adopting bitcoin as a means of purchasing goods and services is still not widely accepted, there are many companies, retailers and platforms that use bitcoin as a means of transacting services and payments. I believe in using it.
According to CoinMarketCap data, bitcoin is priced at $46,644.46 today and has a 24-hour trading volume of $32,264,225,286. Bitcoin has gained 1.49 percent in the last 24 hours. Bitcoin has a supply limit of 21 million BTC coins, while currently, the supply exceeds 19 million BTC coins.
The digital coin crossed the $1 trillion market cap in April last year. However, experts are optimistic about bitcoin going forward.
Can bitcoins be accepted as salary Bitcoins are
created for a process known as mining. They are allowed to exchange for other currencies, products and services. However, the digital coin is also criticized for its illegal transactions. Not only that, bitcoin has also been criticized for mining, price volatility and using large amounts of stolen power on exchanges.
Many experts have called bitcoin a speculative bubble that will eventually burst. This simply means, that the price of bitcoin has a high volatility frequency, and can quickly burst, just like a soap bubble. However, some experts see bitcoin as a game-changer for the cryptocurrency market and call the beginning of a new era in the business world with the expansion of the blockchain industry.
Some local and national governments have officially started using bitcoin in some cases. A country called El Salvador has adopted BTC as a legal tender.
After the Indian government
‘s stricture gained momentum in 2017, bitcoin prompted many people to choose the coin as a form of payment for goods and services, but the idea was soon rejected as regulators around the world criticized cryptocurrency trading. (cryptocurrency trading) has been decided to rein in it.
Last month, the Indian government issued stringent tax rules on crypto trading. Lok Sabha approved the taxation rules on Virtual Digital Assets (VDA) or “Crypto Tax”. These new tax rules have become effective from April 01, 2022.