Tag Archives: crypto currency

Shortage of Bitcoins


Sometime back I was struck by the rate at which Bitcoin value was growing. It hovered around 10 to 20 USD at that time. Then I went for my wedding and when I next saw it, it was already to the moon and back. Recently Bitcoin has proved its value and has been over $1000 since last couple of days. I got into cryptocurrency trading recently via BTC-E. The major challenge that one might face is getting the initial supply of bitcoins. I am not a fan of mining and considering that the green days of mining are well passed and it is not profitable for simple users, I recommend getting the initial bitcoins over the counter. I dont recommend bank transfers to exchange as these have long lead time and very high fee. Instead one can buy bitcoins from websites like localbitcoin.com or buy from friends if they have and are ready to sell.
Seeing the recent boom and huge demand for bitcoins the supply of bitcoins has become very apparent and people are finding it difficult to get hold of their first bitcoins.  I have had a good experience with localbitcoin.com with my transaction being completed in just 15 minutes.
It is easy and safe as there is an escrow but still I would say that do your research and see the feedback before getting into any transaction.
Let us know of other places to get bitcoins in india.