Bitcoin is not a term that is geographical or regional, it is known worldwide. The digital currency does have value in other real currencies, such as- 1 btc to inr is 7, 54,549.84.
Well, the above value is not constant. Bitcoins suffer heavily in the market causing fluctuations in its value in Indian rupees and other currencies as well.
Reasons for fluctuations:
- Some countries have accepted bitcoin as a mode of payment which indirectly increases its value.
- Today, people are highly interested in investing in bitcoin.
- Illegal activities that are performed on a big scale often exchange bitcoins that affect its value negatively.
- Sometimes, due to false rumours about the companies working around bitcoin adversely affects the value of it.
- The news also flashes of criminals hacking the bitcoin centres leading to the drop-down of the value.
There are times when the value deters by 10-12%. Therefore, fluctuations are very common everywhere until the whole world doesn’t cross the barrier of development in their digital path.
Is cryptocurrency illegal?
Not at all, it’s not illegal. People investing in bitcoins are not criminals. Common men also show an inclination towards the facility.
But the illegal works that go on the name of bitcoins are an offence. Thus, individuals should take high care when investing in the so-called bitcoins. Keep checking the value fluctuations of these currencies and then take any action.
There are online sites, such as- Free Bitcoin facilitates the provision of converting 1bitcoin ininr very easily. Keep consulting it and be updated.