DID YOU KNOW?

Pizza🍕 was the first commercial bitcoin transaction.
A man in Florida, USA paid 10,000 bitcoin for two pizzas on May 22, 2010. This is widely considered to be the first commercial bitcoin transaction.

In May 2010, 10,000 bitcoin was equivalent to approximately ₹1800. If you had that much money in bitcoin today, it would be worth more than ₹2645 crores.

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IMPORTANT

• The new crypto regulations will go into effect from today, April 1. (No, this is not an April Fool's joke.😜) 

• A 1% TDS is levied on all transactions.

• Within this financial year, Government of India plans to launch a digital rupee (a central bank digital currency, or CBDC).


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Why Is Crypto Important?

Crypto allows value to be transferred online without the use of a middleman such as a bank or payment processor, allowing value to be transferred internationally, near-instantaneously, and for cheap fees 24 hours a day, 7 days a week.

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What exactly is blockchain?

A cryptocurrency blockchain is similar to a bank's ledger or balance sheet. Each currency has its own blockchain, which is a continuously re-verified record of each and every transaction ever made with that currency.


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Non-fungible tokens (NFTs) are a type of crypto assets in which each token is unique, as opposed to "fungible" assets such as Bitcoin and the Rupee, which are all worth the same value. Because each NFT is distinct, it can be used to verify ownership of digital goods such as artworks, recordings, virtual real estate, and pets.

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NFTs are not currency.

NFTs are not cryptocurrencies, despite their growing popularity and status as digital assets. They are tokens that do not serve as a medium of exchange. Furthermore, NFTs cannot be divided or replicated.

NFTs are becoming increasingly popular as alternative investments, similar to artwork or collectibles. In fact, some people see them as digital collectibles and artwork with the potential to appreciate in value.



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Today, let's learn about crypto term/jargon

▪️Market Capitalization
👉The entire dollar worth of all shares of a company's stock — or, in the case of Bitcoin or another cryptocurrency, all coins mined — is known as market capitalization (or market cap). The market cap of a cryptocurrency is derived by multiplying the total number of coins mined by the price of a single coin at any particular time.

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DISCLAIMER

No investment advice is provided.
This channel's information does not represent investment advice, financial advice, trading advice, or any other type of advice, and you should not regard any of its content as such. VIPS Finsock does not advocate you to buy, sell, or hold any particular crypto asset. Before making any investment decisions, complete your own due diligence and talk to your financial advisor.

Information Reliability

VIPS Finstock will make every effort to ensure the correctness of the content on this channel but holds no responsibility for any missing or incorrect information. All information provided by VIPS Finstock is provided "as is." We request you to acknowledge that you are utilizing any or all information provided on this channel at your own risk.

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Affiliate links may result in income for VIPS Finstock. This compensation could be monetary or in the form of services, and it could exist without any action on the part of a site visitor. It is known that if you engage in actions related to an affiliate link, VIPS Finstock may receive remuneration. VIPS Finstock may receive compensation if you click on an affiliate link and sign up for and trade on an exchange. Please note that each affiliate link is clearly labeled with an icon.

In a blog post on VanEck, emerging markets fixed income strategy chief economist Natalia Gurushina and head of active emerging markets debt, Eric Fine argue that if Bitcoin becomes a widely used reserve asset, the upside is “potentially dramatic.” According to the blog post, BTC price can go up to $1.30 million in the future. However, BTC is now trading at $45,257, and to really reach VanEck's price forecasts, it would need to increase by more than 2,700% to more than 10,500%. While VanEck expresses their predictions, they also gave a word of caution for the investors and asked to “temper their expectations.”

What exactly is volatility?

Volatility is a measurement of how much an asset's price has risen or fallen over time. In general, more the volatile an asset is, the riskier it is as an investment — and the greater potential it has to generate either greater profits or greater losses over shorter time periods than comparatively less volatile assets.

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