Trade In Cryptocurrency : Cryptocurrency is the new trend and the whole world is going on crypto-way. All transactions in the crypto market are controlled and regulated by the crypto-community itself
What Is Cryptocurrency?
A cryptocurrency is a digital or virtual currency protected by cryptography. which makes it almost impossible to counterfeit or double the cost. It is represented as virtual “tokens” in systems that allow secure online payments, represented by the system’s internal laser entry.
Many cryptocurrencies are decentralized networks based on blockchain technology. Blockchain is a decentralized technology that is spread across multiple computers that manage and record transactions. Part of the appeal of this technology is its security.
The first blockchain-based cryptocurrency was Bitcoin. (Bitcoin cryptocurrency) which is still the most popular and most valuable. Bitcoin was launched on 2008 by an individual or group under the pseudonym “Satoshi Nakamoto”.
Trade In Cryptocurrency
Cryptocurrency is a new trend and the whole world crypto-way is going on. As it is proving to be one of the biggest barriers to traditional financing, a huge number of people have started investing in certain cryptocurrencies this year and there are now over a thousand cryptocurrencies which has become a big deal for investors. Which currency should they choose?
Every market has two aspects and it is the same in crypto market. Many suggest that you should buy if the price goes down as it will be recovered later and some suggest that you should reduce the loss and exit.
If you follow the crypto market, you must have seen the red market index. The market is influenced by different people. For example, Tesla chief Elon Musk always tweets in crypto.
How To Trade In Cryptocurrency in India ?
Cryptocurrency is a relatively new concept in India and trading in it is not common sense. Yet people are jumping on the bandwagon of the crypto bandwagon, mainly because of the guaranteed good returns.
Before putting your money in the crypto market. follow these tips:
- First of all it is important to choose a trading platform or the right crypto exchange. The crypto exchange is just like the stock market. There are many crypto trading platforms in India like WazirX, Coin DCX and Coinswitch Kuber. First time investors can choose one of these to start crypto trading.
- The investor needs to upload all the required documents to the exchange online to complete the KYC (Know Your Customer) process.
- Once your KYC is to be complete and all the required documents have to verify by way of the respective crypto exchanges. Then The investor can start trading in cryptocurrency. Crypto exchanges operate 24 hours a day and do not have open or close hours like normal stock exchanges.
- An investor can either save the cryptocurrency in a digital wallet or can withdraw it as money.
- In the beginning, one cryptocurrency should be chose at a time as the market is quite volatile and it is important to be careful before expanding one’s portfolio.
How You Can Invest In Cryptocurrency
If you want to invest in cryptocurrency, follow these simple steps
Find a Crypto Exchange Platform
The first thing you need to do to get start is to find and choose a crypto exchange platform. You need to detailed background check of the core team behind the exchange as cryptocurrencies are not regulated in India and anyone can start an exchange platform.
WazirX, CoinDCX, and CoinSwitch Kuber are some of the popular exchanges in India.
Create an account to start investing
After finalizing the platform you need to sign up to open an account. You will need to verify your identity on the crypto exchange platform. You can complete this step by submitting your PAN card, Aadhar card, or Driver Agarbatti details.
Deposit Your money and get start Investing
Now to buy any crypto you will need money in your account for your investments. Link your crypto account to your bank account and deposit money via wire transfer using debit/credit cards.
Buy Your First Crypto
After completing all the above steps, you are ready to enter the crypto world. There are various cryptocurrencies where you can invest. Bitcoin, Ethereum Dogecoin and Shiba Inu are some of the famous ones. You can easily invest multiple times in any crypto. Each coin has its own symbol such as Bitcoin known as BTC, ETH by ETH and Dogecoin by DOGE.
Q. Can I trade in cryptocurrency in India?
Ans. There are no laws that prohibit (or allow) trading in crypto. In that sense, cryptocurrency is like any other asset class such as gold, commodities or real estate. … Since it can be traded online within the country. cryptocurrencies are digital currencies and valid as an asset class in India.
Q. Can we trade in Bitcoin in India?
Ans. There are many platforms in India . where You can buy cryptocurrency from exchanges like Coinbase and Coindesk. But in India, one can buy Bitcoins from ZebPay. For buying Bitcoins, one can do a transfer from your bank account into ZebPay. You are required to Done a fundamental KYC before you start buying and selling in Bitcoins.
Q. Is Zebpay safe?
Ans. Zebpay is totally safe and legal to deposit & withdraw Rupees and do bitcoin trading. Zebpay has been in the crypto exchange business since 2014. But had to close Indian operations following the ban imposed by the RBI.
Q. Can I buy Bitcoin for 1000 rupees?
Ans. You can buy a fraction of a Bitcoin. For instance, you can buy Bitcoin for Rs 100 or Rs 1,000. The latest Bitcoin price (1 BTC) as of this posting is Rs 66,122. You Can See it on (www.zebpay.com)