Cryptocurrency has been the pulse of the digital asset market for a while now. A Blockchain-based technology that ensures safety, privacy, and security for your online transactions. After the launch of Bitcoin in 2018, cryptocurrency has never looked back. It has seen rapid growth and success in the global market. Similarly in India, cryptocurrency has flourished and set a strong foot in the market. India has had a massive mass attraction towards cryptocurrency in the past two years.
Investing in Crypto :
The Indian government is very speculative regarding cryptocurrency in India. Till 2019, it considered the private coins a ‘ponzi scheme’. But the crypto imarket witnessed a huge inflow after the Supreme Court denied all the demands of banning cryptocurrency in India.
So if you are looking forward to investing in cryptocurrency, you need to head towards the cryptocurrency exchange platforms. These platforms are made with the sole purpose of globalizing the access of Crypto. There are almost 19 reliable exchange platforms to buy and exchange cryptocurrency in India. Some of the best ones are WazirX, CoinDCX, Zebpay, CoinSwitch Kuber, Coinbase, etc.
Things to keep in mind while investing in Crypto :
- The Crypto market is very unpredictable and volatile.
- There are regular price swings.
- Be more careful regarding the security and safety of your money.
- Do not invest because you’re having a FOMO
- Cryptocurrency is highly affected by market trends and public perception.
- Conduct proper research and acquire enough knowledge about the market before investing.
- Patience is the key when it comes to investment. Holding the crypto and selling it shouldn’t be done out of fear.
- Read enough cryptocurrency white paper, news articles and latest updates.
Even though it might seem very appealing, without enough knowledge and patience one might see cryptocurrency as a curse.
Precisely why our neighbour China has decided to crash the Crypto market recently.
How to invest in Crypto ?
There are several cryptocurrency exchange platforms that help you to invest in Crypto and guarantee you security and safety for your transactions. Let’s see how you can easily invest in Crypto :
1. Choose an exchange platform :
If you are interested in cryptocurrency, you must have come across a variety of exchange platforms that offer you a wide range of services in order to give you a satisfactory exchange experience. So before anything, you need to choose a cryptocurrency exchange platform that suits you the best. DYOR and see for yourself which Crypto exchange platforms are matching your needs.
- You can select from a wide variety of trading platforms but in order to be on the safe side, choose an app which accepts INR currency (eg : WazirX, CoinDCX).
- After selecting a platform, you can download it’s app on your phone or your desktop. Choose an app which is easy for you to navigate and offers the least amount to start with.
- After the app is downloaded, register or sign up on the app to become a user and avail it’s benefits.
2. Verify yourself with KYC verification :
Most apps or platforms make it mandatory to have a KYC verification but even if it is not necessary, it is always advisable to verify yourself. Not only KYC verification secures your personal Id but also helps you to get extra benefits. For your KYC verification, you need to enter your personal details (name, number, email, identity proof and address proof) and your Bank details. After filling in these details, you need to choose a mode of payment.
3. Place your trading order :
Once you are verified, you are all ready to start trading with Crypto assets. If you’re new to the market, start with a lesser amount and see how it goes. You can choose from an extensive range of crypto. Choose the crypto which carries the least risk for your first investment. You can store your crypto in your digital wallet or withdraw your money according to your need.
It is not an uphill battle to invest in Crypto but at the same time, it’s also not a child’s play. You need to be careful as well as active to not suffer huge losses in the market. The unpredictability is a blessing as well as a curse for the crypto market. So, have enough resources and financial advice before starting to invest in crypto.