Cryptocurrency has taken the world by storm. A name that was completely unknown a few years back has become one of the best options for investment and higher returns. As a result, people are entirely inclined to explore the world of cryptocurrency. You may feel daunted by the word cryptocurrency as a newcomer. Still, with a bit of research, planning, and a good strategy, you can pave your way in the right direction. You can buy bitcoin and various other cryptocurrencies from different crypto trading apps.

Cryptocurrency is a digital payment system that enables anyone anywhere to send and receive payments in the world without any connection with the banks. As of this writing, there are approximately 10,000 types of cryptocurrencies, and the number is only expected to go higher. And till now, Bitcoin is the most popular crypto India.

The first cryptocurrency created is Bitcoin, created by an unknown person named Santoshi Nakamoto. All cryptocurrencies other than Bitcoin are known as altcoins. Ethereum is the most popular altcoin. There is no specific place to buy all types of cryptos, but there are various earning app that you can use to do your trading and investing. It is difficult to tell which cryptos are the best ones.

Some of the top class cryptocurrencies are as follows:

  1. Bitcoin
  2. Ethereum
  3. Binance coin
  4. Cardano
  5. Dogecoin
  6. Tether
  7. Bitcoin cash
  8. Shiba Inu
  9. Internet Computer
  10. Ripple (XRP)

The crypto trading apps can make your experience and are easy to use. But make sure that you check the safety and security of the app. These apps have a beginner-friendly user interface. You can just complete your KYC in a couple of minutes, put down your bank details and make a portfolio to keep track of the performance of your coins. Now you just have to choose which currency you want to invest in. You can buy bitcoin, Ethereum, Cardano, Litecoin, Polkadot, Shiba Inu, bitcoin cash, dogecoin, and the list goes on.

You should make this decision very wisely and research which cryptocurrency you want to invest in. Some apps allow you to invest in an amount as low as 100 rupees! Can you believe that? Whether you are someone who wants to invest in a smaller amount or you want to invest in large sums, there are apps for each. Crypto trading apps charge commissions and withdrawals fees, but they vary depending upon the apps. You need a wallet to store and trade your bitcoin and altcoins. The wallet has two-factor authentication to secure any bitcoin wallet India.

Experts say that you should only invest 1%-5% of your net worth, as cryptocurrency is still volatile, so make sure you don’t aggressively invest.

If you decide to invest $1000 in, let us say Bitcoin, when the price is $40,000. After one year, the cost of bitcoin that was $40000 rises to $1,00,000

Now, if you decide to sell your Bitcoin and take the profits. As the price increased from $40,000 to $1,00,000, there was an increase of 150%. So your $1000 has turned into $2500.

So this is how you invest in cryptocurrency. The cryptocurrency market is volatile and risky so do your thorough research diligently.