The most trendy in market these days is Cryptocurrency one, but has faced many fluctuations till now. Even though experts are of the opinion that this market would again upgrade depending on the interest levels of people.
Although cryptocurrency exchange market is speculative and is not having any support globally, digital coins are still on the top list of exchange market cause of the backup of many of the famous business personalities as Elon Musk, Michael Novogratz and another billionaire Jack Dorsey. Therefore, lot many public is attracted towards investing in crypto coins due to such a support of billionaires.
Crypto investments have become the most popular amongst the youth and so even though this market had faced downfall but as per to the rising interest of the youth, experts are of the view that this market would again rise. Even Bitcoin should be classified as an asset in India as per to the demand of the hour.
Table of Contents
Steps to be taken for Investing in cryptocurrency:
Crypto Exchange need to be found
So as to start off as a Crypto investor, one has to find an exchange first for trading. Anybody interested could easily start an exchange and can make a thorough background analysis of the core team which is at the back of exchange and all this could be easily done by anyone as it’s not been regulated in India. For instance, famous crypto exchanges in India are CoinDCX, CoinSwitchKuber, etc.
Account Creation
After choosing of an exchange, one should move towards signing up for opening an account. On the basis of the rules and regulations of this signing up as well to the amount which you are thinking for investing; verification of identity could be required for safety concerns.
Money which you intend to deposit
So as to purchase crypto, certain funds would be required in the prospective users account and this could be easily done by linking crypto account with users bank account and thereby depositing money with the aid of debit / credit card. One point to be remembered here is that it is possible that you have to wait before starting trading with that amount due to the ‘waiting duration’ set for initialising trading.
First Purchase
Before initialising trading, if you are prepared for investing then the next step would be to select a crypto coin as per to your choice, after gaining enough knowledge on their market response. As there are many of such digital currencies with only difference of popularity as in Bitcoin, Ethereum and Dogecoin been one of the famous ones. Investments could be done in many at one point of time and most of them could be recognised on exchange on the basis of their individual symbols. For instance, Ethereum as ETH, Bitcoin as BTC, etc.
Method of Storing
One popular risk attached with crypto exchange is of getting hacked. Even the prospective user being ‘You’ could face loss of money which you have taken for trading, if in case you have forgotten the codes essential for accessing your account. Therefore, a storage place which is safe, is essential for you to keep your digital coins.
With such simpler steps you can easily jump into investing in cryptocurrency. As these steps would lead you to invest in your chosen crypto coins in a secured manner, with chosen amount.
DISCLAIMER
This Website is only for information and education purpose. This is not a financial advice. We request you to do your own due diligence before investing in any cryptocurrency, ICO, ICO. We do not take any responsibility for your profit or loss and we will not be liable in any case. Invest only the amount which you can afford to loose as crypto market is very volatile and risky.
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