There are over 9,000 cryptocurrencies that you can choose from if you want to invest in cryptocurrencies. The largest cryptocurrency is Bitcoin, followed by Ethereum, and then there are other altcoins. Bitcoin dominates roughly 55% of the crypto markets, mainly used as a digital currency, and has grown by over 100% since the beginning of 2021. Ethereum provides plenty of use-cases apart from being just a digital currency.
Source: CoinMarketCap
The market for Non-Fungible Token (NFT) and Decentralised Finance (Defi) has increased rapidly. Cryptocurrency space is evolving continuously, and apart from Bitcoin and Ethereum, there are other interesting projects too that you can choose from in NFTs and Defi.
Today You can easily invest in cryptocurrencies in India. But, before selecting crypto, it is important to look at the fundamentals of each and do your own research to minimize the risk associated with investing in cryptos. Keep your disposable income and risk appetite in mind before diving into it.
While choosing which cryptocurrency to invest in:
- Understand the basics of blockchain and crypto
- Follow the markets and keep track of which cryptocurrencies are performing well.
- Open an account on a crypto investment app such as CoinDCX Go
- Select crypto and start investing
Before selecting the cryptocurrency, it is important to understand what blockchain technology is and how crypto works. At CoinDCX, we have a comprehensive free platform dedicated to blockchain and cryptocurrency education called DCX Learn. After understanding the basics, the next step is to keep track of the markets and thoroughly research interesting projects by following their community pages, past performance, website, social media accounts, etc.
Once you have made up your mind, you can create an account on crypto investment apps such as CoinDCX GO and start investing. On the CoinDCX Go app, we also send regular market updates on the coins listed on our platform to keep our investors informed about the market's momentum and accordingly take buy/sell decisions and create orders.
A cryptocurrency exchange is an exchange that allows investors to buy, sell and trade various cryptocurrencies often bought with fiat currencies - government legal tenders like the U.S. dollar or the Euro.
Cryptocurrencies are in that grey space between currency and stock - and, given that investors have noticed crypto fluctuating in tandem with the stock market, many seem to argue it may be more of a security. Still, cryptocurrency exchanges perform essentially the same service as regular exchanges on the stock or bond market - they allow people to buy or sell cryptocurrencies.
Many cryptocurrency exchanges trade various coins, including bitcoin, litecoin, ethereum, and many, many more. In contrast, not all exchanges allow you to buy coins with U.S. dollars, those that do allow you to use your own cash to purchase coins or trade different coins - like buying bitcoin with litecoin and so on.
Cryptocurrency exchanges will often have a USD value for the coin you are looking to buy reflected in the exchange rate. Exchanges may also show the exchange rate between different coins. Whatever your reasons to get involved. Maybe, you need to remember that every person excelling in their respective fields was once a beginner. And from there on, with the right resources and self-education, that person succeeded.
On similar lines, CoinSutra is and wants to be your one-stop solution for all crypto-related queries if you are beginning your journey in the crypto land and help you become a pro at handling cryptocurrencies.
We have been here for over one year and have done pretty well in reaching out to more than 2 million people like you. And that’s the same reason I am here again today – to tell you about some of the best crypto trading websites/exchanges for beginners and the best websites ( coin crypto. tech )
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