Who Owns Bitcoin?

Nov 09, 2024

"Wondering if Bitcoin is only for the rich?"

Not at all! Bitcoin isn’t just for billionaires or tech wizards.

In fact, anyone with a smartphone can own Bitcoin, even you.

The beauty of Bitcoin is its accessibility.

It’s not controlled by governments or banks.
It’s owned by people. People like you, me, students, shopkeepers, and yes—even chaiwalas.

Bitcoin is decentralized, meaning no one controls it.
This is why people call it “money of the people.”

Owning Bitcoin is easier than you might think.

All you need is a digital wallet.
Think of it as your personal vault for Bitcoin.

Want an example?

Imagine your wallet is like your Instagram account.
But instead of storing selfies, it stores Bitcoin.
And only you have the login.

Download a Wallet App
There are tons of wallet apps: WazirX, ZebPay, CoinDCX, etc.
Just download, and you’re halfway there.
You can also then transfer it from these wallet apps to more secured wallets like Ledger. For this you will need to understand difference between custodial & non-custodial wallets. May be in some other newsletter.
Verify Your Account
Just like creating any other online account, you verify your details.
Buy Bitcoin
You don’t need to buy a whole Bitcoin (it’s ₹70,000+ right now!).
You can start with as little as ₹100.
Yes, that’s right—just ₹100 can get you started.

Here’s the thing:
When you buy Bitcoin, you get a private key and a public key.

Public Key: Think of it as your “Bitcoin username.”
People use it to send you Bitcoin.
Private Key: This is your “Bitcoin password.”
Keep it safe. It’s your access to your money.
Losing it means losing your Bitcoin—forever.

Think of your private key like your ATM PIN.
You don’t share it with anyone, right?

Let’s be real. Bitcoin can be volatile.
So why do people still want it?

Freedom from Banks
No one can freeze your Bitcoin.
You control it, 24/7, 365 days a year.
Limited Supply
There are only 21 million Bitcoins.
Imagine owning something rare.
The rarer it is, the more people want it.
Investment Potential
Yes, Bitcoin prices go up and down.
But some people believe in its long-term value.
They see it as “digital gold.”
Fast Transfers
Sending money across borders is a pain.
Bitcoin? It’s almost instant.
Send it from Mumbai to New York in seconds.

Let’s clear up some misconceptions:

Myth 1: “You need to buy a full Bitcoin.”
Truth: Nope! You can buy a fraction of a Bitcoin.
You can start with as little as ₹100.
Myth 2: “It’s illegal in India.”
Truth: Bitcoin is not illegal in India.
It’s unregulated, yes. But it’s not banned.
Myth 3: “Bitcoin is only for criminals.”
Truth: Bitcoin is for everyone.
Yes, some misuse it. But so do people with regular money!

Let’s keep it real. Bitcoin isn’t a guaranteed get-rich scheme.
But it has made some people very wealthy.

Here’s why:

Early Investors: People who bought Bitcoin when it was ₹100 or ₹1000 saw insane gains.
They held onto it when others doubted.
Patience: Bitcoin is a long-term game.
If you’re thinking of buying and selling within days, think again.
Staying Updated: Bitcoin’s value depends on global events, regulations, and tech advancements.
Staying informed helps.

Remember: Only invest what you can afford to lose.
Bitcoin can rise—and it can fall. Fast.

Bitcoin itself is secure.
But how you store it matters.

Here are some safety tips:

Use a Trusted Wallet
Not all wallets are created equal.
Choose one with a good reputation.
Enable Two-Factor Authentication (2FA)
It’s like adding a second lock to your door.
It makes your account harder to hack.
Backup Your Private Key
Write it down, but not online.
A piece of paper works best.

Bitcoin isn’t just for the rich or the tech-savvy.
It’s a tool for financial freedom.

With just ₹100, you can start.
And who knows where it might lead?

The world is changing, and Bitcoin is a part of it.
But remember: start small, stay informed, and don’t fall for hype.

Bitcoin is not just about money.
It’s about choice.

Let’s make this blockchain journey JorrDaar together!

JorrDaar Blockchain