The world is rushing towards cryptocurrency at an unprecedented pace, and Crypto has its reason to be a trendsetter. Just like any other form of investment, currency in its virtual form can be potentially rewarding.
Even though it is volatile, investors are considering investing in cryptocurrency as it’s an easy way to get great returns on investment. Not only renowned business personalities but even startups or individuals are investing in it. Once said by a wise person “if your salary is your only source of income, you’re one step away from poverty”. Considering the fact, buying a Cryptocurrency can be a great source of income.
A cryptocurrency is a form of digital asset guarded by cryptography and distributed across networks in the ledger. All transactions related to the transfer of cryptocurrency funds are recorded in the ledger to ensure that nothing is getting violated by malicious hackers.
Is it Safe to Invest Money in Cryptocurrency?
With over 4000 CryptoCurrencies in the market, the market size for cryptocurrency is about to hit $1087.7 million by 2026. Such a great amount requires peerless security. To add to it, there are sneaky crypto-malware that may cause a threat to the investment. But to counter this, AI-driven counter intrusion tools are available and behavioral intelligence is also introduced. Nothing in the market comes with a safety tag, not even our lives. The safety of your crypto is in your hands. But with the Blockchain model, it becomes impossible to counterfeit or infringe cryptocurrency.
Moreover, currencies like Bitcoin and Ethereum are continuously inviting improvement proposals from investors as their governance framework to fix issues in their Blockchains, respectively.
Is Cryptocurrency a Good Investment?
The cryptocurrency fervour is not going to fade any sooner. So like any other investment, Cryptocurrency carries risk. Also, the market is highly unpredictable and volatile, and those who invest tend to go through both profit and loss. Try to start off with a minimum to invest in Cryptocurrency and once you grab the metrics of the market, get growing accordingly.
How to invest money in Cryptocurrency?
You may find a few initiatory cryptos dating back to 2013, but as of 2021, the list thrives with cryptocurrencies ushered in the wave that came in the early 20s. Some of them pioneered the world with de facto standards, Bitcoin being one of them. Retracing the growth trajectory of Bitcoin, it has a market capitalization of $1072.21 billion as of February 2021 (Statista).
Even after so many years, people are unaware of the fact, i.e., how to invest in cryptocurrency. Well, it’s no rocket science; it’s even simpler than opening a bank account. Venturing into the crypto world, you will find a range of digital currencies, both tangible and physical. You need to find a reliable and trustworthy trading platform to start off with investing.
Which Cryptocurrency to buy in 2021?
Although digital currency has been here for more than a decade, people are still in a dilemma about which cryptocurrency would be best to invest in. There are no hard and fast rules when it comes to investing. It boils down to the market and the prices per unit of a currency. The more capital you can invest, the better returns you can expect.
Bitcoin, Etherum, Ripple, Litecoin, etc., are some of the prominent currencies in which Bitcoin is most expensive, and Ripple is the least expensive of all. To head towards investing in cryptocurrency, you can start with a minimum of 100INR, and the maximum has no limit. Analyze the metrics of different currencies and keep an eye on status to ensure that you are investing for the best result. Now that it’s clear how to know which cryptocurrency to buy, it comes to where to buy.
For all those who want to buy or sell Cryptocurrencies in India, here is how you can get it.
The trend of buying and selling crypto is booming with more and more getting involved in it. Trading of currencies involves low exchange fees, deep liquidity, and best execution prices, which makes it interesting, and worth attention. Moreover, crypto trade can be self-regulated, and that too without any time barriers. You can buy a complete unit or its fraction through the exchange. The platform enables crypto exchange by deducting a small fee as mentioned by them.
Several platforms allow you to obtain cryptocurrency in your wallet.
One of them is Wazirx, the most reliable cryptocurrency trading platform in India with two-factor authentication (Google authenticator or mobile OTP-based authentication).
All you need to do is:
- Download the app, sign up with the app or the browser.
- Complete the KYC process by verifying your document.
- Enter bank account details to it to add money for trading.
Once done with this process, try adding a small amount to ensure that your account is working. With this done right, you can start trading.
The market is volatile and can bring huge benefits to early investors. Investors often wonder how to invest in Efforce’s WOZX coin or other forms of digital currencies. Start with as low as 100rs and wait till it turns profitable.
Direct Bitcoin Mining
It seems a bit different and intricate. Mining is how new bitcoins come into being. To draw new bitcoins, the miner has to add a block of transactions to the blockchain network. The miner is paid for it, but mining is not easy and involves a certain degree of complexity. Only professional blockchain developers can do bitcoin mining using special tools and technology.
The Future of Cryptocurrency in India
Uncertainty prevails over the future of Cryptocurrency in India for a lot of reasons. Since the Supreme Court lifted the ban on Cryptocurrencies in March 2020, its picture can be viewed on a bigger screen. While estimating the future of Cryptocurrency in India, you will notice how its growth is embraced by Indian citizens.
However, amid the pandemic, the lack of investments and business avenues is causing potential trouble. Despite all this, investors may notice a surge in volume and prices of Crypto as more and more people are inclined towards it. Since it is not guarded by any governing authority, the risk is always there, but the digital currency framework adjoining it brings a sigh of relief.
The market observes that cryptocurrency attracts investors from all walks of life. Since it is regulated using BlockChain Technology, it’s safe, spanking, and reliable. Large trading platforms like Wazirx are drawing in investors for a low trading fee and its simple registration process.