Want to Invest in Cryptocurrency? Some basic things before investing

Investing in crypto gives good returns. The most popular cryptocurrencies are bitcoin, ethereum and some other coins like dodgecoin. Investing in crypto can be a bit complicated process. In this, there are many important things like mining, trading on crypto exchange, then maintaining crypto wallet, which is important to be aware of.

If you are starting to invest in crypto then you should start with crypto exchange first. A crypto exchange is a platform where investors buy and sell crypto currency like a stock market.

To start trading you need to find the best trading platform. There are a number of exchanges currently operating in India, including CoinSwitch, Kuber, WazirX, BuyUCoin, among many others.

  • To open a trading account on a crypto exchange, you will also need documents like ID proof, address proof, PAN card etc.
  • After depositing the documents and money with the exchange, it is not necessary that you will be able to start trading immediately. After this the exchange will verify your details, it may take some time. When the KYC process is completed, the exchange notifies its user about it.
  • If you have bought a cryptocurrency, then you can either store it in a digital wallet or you can withdraw it by converting it into a flat currency.
  • Invest in a single crypto at the beginning of the investment. And choose a cryptocoin or token that you are absolutely sure of investing in.

Cryptocurrency is digital money or we can say that it is a digital asset. That means there’s no physical coin. It’s all online. You can transfer cryptocurrency to someone online without going to a bank. People might use cryptocurrencies for quick payments and to avoid transaction fees. In Current era bank charge fee or lump-sum amount for transferring money from one country to another but here you can transfer cryptocurrency to anywhere in world. Some might get cryptocurrencies as an investment, hoping the value goes up. It is also called digital gold.

So, you are thinking from where all this came from? And who has made this cryptocurrency?

This all started 12 years ago a person name stantoshi nakamoto has published an article on internet and the purpose was clearly seen in that article. The wordings of the article are “The version on electronic cash that would allow payment to be sent directly to one party to another party without going to the financial institution”

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