• There are various factors that are used to determine the bitcoin value and they are as follows:
  1. Features Of Gold – It has all the properties that of gold and that includes:
  2. Limited supply – There is only a few numbers of crypto currencies.
  3. Portable – It is extremely easy to carry along and exchanged.
  4. Durable – Lasts for large number of times.
  5. Acceptable – A medium of exchange.
  6. Uniform – All versions have same value.
  • Divisible – It can be divided into satoshis, smaller units of value. (1 satoshi = 00000001 BTC )

bitcoin

  • Demand and supply – Bit coin also has its market, which is bought and sold. So the demand and supply or surplus and scarcity in the market determine the value of this crypto currency.
  • Network effect – This digital money has a huge network effect, that is the platform or network will become more valuable when more number of users use it together.
  • Usefulness – It does not have central authority to control and thus their transactions are peer to peer without any intermediaries, so transactions will complete within a few minutes without any delay.
  • Decentralized – As said earlier, it is a decentralized system which is not controlled by anyone and this offers censorship to it unlike traditional money and it also determines its price.
  • These are the things that have an impact on its price and you can convert 1 btc to inr using some sites o the web.