Why is the BTC to INR pair important to traders?
BTC to INR is a very popular crypto-to-fiat pair in India and abroad. Since its inception in 2009, Bitcoin – the base currency of this pair – has proved to be the world’s top cryptocurrency in terms of market capitalisation and value. The pair’s counter currency – Rupee – is the official national currency of India. Neighboring countries Bhutan and Nepal peg their currencies to the Rupee, and accept it as a legal tender.
The crypto market, including Bitcoin, is extremely volatile, which provides huge potential for speculation. Observing the popularity of BTC to INR exchange transactions, there are immense opportunities for traders to profit from the pair’s trade.
BTC to INR trading: the ultimate way to invest in Bitcoin
Although the volume of the BTC to INR crypto-to-fiat currency pair is much lower than BTC to USD, Bitcoin to INR trading is steadily growing. The ultra-volatile nature of BTC/INR makes it a strong alternative to traditional Forex markets.
Bitcoin traders can always profit from BTC price swings. You can either go long or short, depending on Bitcoin to INR price movement, and benefit from the price difference.
Proven to be a lucrative investment, Bitcoin consolidates its position as the world's top cryptocurrency. With a remarkably strong start of 2020, investors share a bullish view on Bitcoin price future. Convert BTC to INR at Currency.com and trade it with 100x leverage and tight spread.
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Developed in 2009, Bitcoin introduced a new type of digital currency to the world gradually gaining worldwide popularity. Today, it is the most popular and valuable cryptocurrency on earth, serving as the gold standard for emerging cryptos.
Due to its decentralised nature, BTC transactions do not require a middleman, meaning no banks or other authorities are involved. In addition to being an alternative payment network and a store of value, Bitcoin offers great opportunities to traders.
Key facts about BTC
The first decentralised cryptocurrency
Launched in 2009
The brainchild of a person or group known as Satoshi Nakamoto
The maximum number of Bitcoins is 21 million
80% of all Bitcoins have already been mined
Bitcoin is considered both a commodity and a currency
The first BTC transaction was to buy 2 pizzas
In April 2010, when Bitcoin was launched at the first cryptocurrency exchange BitcoinMarket.com, its price was $0.0025 (₹0.18). Shortly after, the BTC price rate started to surge dramatically, generating more than a thousand per cent earnings to its initial owners.
As the cryptocurrency is not tied to any particular country or region, domestic and geopolitical factors can have less of an impact on the value of Bitcoin. Instead, you should keep an eye on its demand, adoption rates, regulations and market sentiment.
Bitcoin price chart shows BTC/INR price rate in real-time. Analysts expect 2020 to be an important year for Bitcoin, making positive forecasts regarding the Bitcoin to INR price.
In the Bitcoin to Rupee pair, BTC is the base currency and the INR is the counter currency, which means the BTC/INR chart shows how much one Bitcoin is worth as measured against the Indian Rupee.
India has emerged as one of the world’s fastest-growing economies. It is believed to become one of the top three economic powers over the next 10 years, driven by its democratic approach, market economy and international partnerships.
Today, India has achieved the status of the third-largest hub for startups with more than 9,000 startups, 1,300 of which were founded in 2019. The country’s labour force is predicted to reach 160-170 million people in 2020.
Between 2000 and 2019, India attracted $436.47 billion of Foreign Direct Investments (FDI) mainly to services, IT, telecommunications, construction and automobile sectors. In 2020, India climbed 14 spots higher in the World Bank's Doing Business Report over last year and is ranked 63rd among 190 countries.
Those interested in the BTC/INR pair trading should keep a close watch of crypto market news and the Reserve Bank of India (RBI) releases regarding interest rates and monetary policy changes.