IntroductionCryptocurrency, the digital money of the future, holds a special secret that unlocks every four years. What exactly happens during these times? Let's find out in "What Happens Every 4 Years in Cryptocurrency?" In this blog, we'll explore the interesting event called "halving" and what it means. From how it affects prices to why people get excited and how to own it, we'll discover it all.
What occurs every four years in cryptocurrency, particularly for Bitcoin?
Every four years in the world of cryptocurrency, particularly for Bitcoin, there's an event called "halving." During halving, the rewards for miners who help run the network get cut in half.
This means they receive fewer new bitcoins as a reward for their work. Halving is important because it helps control the supply of Bitcoin, making it scarcer over time. This often leads to an increase in Bitcoin's value.
Bitcoin Halving RoadmapIn 2009, each block included 50 bitcoins at first. Then it went down to 25 in 2012, 12.5 in 2016, and 6.25 in 2020.
The next cut in 2024 will make the reward 3.125 bitcoins. When the reward decreases, the value of Bitcoin usually goes up.
Bitcoin's value often rises as new coins become scarcer due to halving events, positively impacting its price. If you're interested in learning more about bitcoin halving.
Bitcoin's Price MovementsAs of writing, one bitcoin is worth $59,161 (Bitcoin to Indian Rupees =5268336). This year, it reached its highest price ever. Bitcoin has hit a crucial point, and its price might drop a bit.
However, after this small dip, there's a good chance it could climb to a new high of $70,000. This is something people watching Bitcoin are excited about.
How to buy bitcoin in India?If you're looking for how to buy bitcoin in India, follow these steps:- Sign up at the best exchange platform to buy bitcoin, like Koinpark, providing your personal details.
- Navigate to the buy/sell section of the exchange and select the option to buy Bitcoin.
- Transfer funds from your bank account to the exchange using an online payment method.
- Store your Bitcoin securely in a wallet provided by the exchange, which tracks your Bitcoin anonymously.
ConclusionThis blog talks about the basics of Bitcoin, including how it's made (mining), an important event called halving that makes it more valuable, how its price can change, and how to buy it in India. It helps you understand more about the world of cryptocurrency. It also gives information on buying bitcoin from a global cryptocurrency exchange for more options and you can also try out a cryptocurrency exchange app to seamlessly buy crypto.