Before we answer what the price of bitcoin is, you would need to understand what ‘bitcoin’ is.
What is bitcoin?
Bitcoin is a type of decentralized cryptocurrency that allows certain transactions to take place. Bitcoin is not a formal type of currency. The government does not regulate this. Since many people are using this form of currency, and have accepted payments in Bitcoins, you will be able to purchase items or service through it, without anyone finding out.
Well as you have it bitcoin is a very popular method of payment where the bitcoin price of one bitcoin is approximately INR 7 lacs.
Here are some features that bitcoin offers you-
There are high levels of security with bitcoin. You would not have to worry about your transactions being monitored. Many people are skeptic about the services that the whole mining and block chain process has. There is no central government regulating the various policies for this so you can purchase all sorts of services and items with your cryptocurrency.
When you are working with bitcoin, you may worry that since there is no central authority that is looking after the inner works of your transaction, you might feel that it might be unsafe to use bitcoin. Well, you do not have to fret. Everyone who has a bitcoin account can view your transaction. If one change has to be made, then the change will be made in hundreds of accounts. Transparency is maintained in this way.
People especially the old are highly doubtful of bitcoin and its uses, but with how this millennial generation is worried about their privacy, bitcoin has been a hit among other forms of crypto currency. Keep in mind that bitcoin is the currency of the future, and maybe in the future times, it may replace the physical type of currency.