Anand's Blog

Very few among the retail investors would have missed to hear the term "Bitcoin",   though very few amongst them would have an understanding of what it is all about.   With bitcoin's price breaching the US Dollar 20,000 mark & lots of stories floating in the internet on millionaires from bitcoin  around the world, a FOMO tendency (Fear Of Missing Out) is slowly building up amongst the retail investors as  it looks like a way to become rich quickly.  The bitcoin price graph for the past 10 years clearly captures the prevailing euphoria on its prospects in the market: Bitcoin Price History in USD The intention of this post is to explain the concept & features of bitcoin so that retail investors can take an informed decision.    What is a Bitcoin Bitcoin is a decade old concept. It was launched in 2009 by Satoshi Nakamoto. The strange thing to be noted is no one knows  who is Satoshi Nakamoto. Whether it is a person or a team's sudo name is also unknown till date

When it comes to Personal Finance, Savings account is the first step. Basic characteristics of a Savings account given below: Safety High liquidity Multiple withdrawal options Quick online transfers through UPI  ·      Post de-regulation of interest rates on Savings Bank Accounts by Reserve Bank of India (RBI) in 2010, Banks are free to fix the interest rates for their Savings Bank Accounts. Due to this regulatory change the savings bank interest rates vary widely from 2.75% to 7.25%. That’s a wide difference & considering that all Bank offer similar facilities like Net Banking, Mobile Banking, ATM-cum-debit card, UPI etc. it does make sense to park the funds required for one’s monthly expenses in a high interest rate yielding savings account, and earn higher interest. Also, since all the scheduled banks are covered under DICGC (Deposit Insurance & Credit Guarantee Corporation) for an amount of Rs.5 lacs (enhanced from Rs.1 lac to Rs.5 lacs post the Yes Bank fiasco in 2020),