Buying for profit or investing for future? Here’s how can you trade in Bitcoin, other Cryptos in India

New Delhi: If you are new to the Cryptocurrency market or confused on when to buy, we are here to give you tips.

There are two sides of every market and Crypto market has it too. Many suggests that if the prices are going down then you should buy as it will be recovered later and some other suggests that you should cut your losses and get out.

If are following the crypto market then you must have seen red market indexes. Different kind of people have influence over the market, like, Tesla Chief Elon Musk keeps tweet over the crypto all the time.

Market crash after Elon’s tweet against Bitcoin and created an opportunity for the new investor. It is not a new thing, it keeps happening all the way around.

Serious investors or those who have some ability to absorb risks will always be looking for this blip. It is believed that when prices goes down you should wait for sometime to invest because this dip can be the dip you were waiting for.

Always try to invest on portions instead of putting down your all money in a go. It is advised to buy in 50%-30%-20% ratio.

If you are looking to invest here are top 5 Cryptocurrency to invest in 2021

1. Bitcoin

Bitcoin is ‘the king of all cryptocurrencies, as it is the first of its kind with the highest liquidity value. This crypto coin aims to become a fully decentralized, global, peer-to-peer digital cash with no regulations. In a volatile crypto market, Bitcoin is the most stable one.

The popularity, demand, and adoption of Bitcoin are expected to grow exponentially in the near future. Many global companies have opened themselves to the idea of accepting Bitcoin as a form of payment.

2. Litecoin

Litecoin comes 2nd on our list because of its market capital and liquidity value. Litecoin is limited to 84 million coins with a block reward of 12.5 LTC, higher than other cryptos. Mining a Litecoin can be faster than any other cryptocurrency as the average time to mine a Litecoin is just 2 minutes. The growing popularity of Litecoins makes this the best of the rest in all the altcoins.

3. Ethereum

Ethereum was the first crypto coin to introduce smart contracts that allowed developers to create desktop and mobile decentralized applications powered by blockchain technology. Ethereum has maintained its position in the top cryptocurrencies of all time ever since. That makes the chances of it being stable for a long time higher.

4. Cardano

This is an affordable cryptocurrency that is gaining popularity among the cult fans of cryptocurrency. It has become a strong player in the market with its Ouroboros blockchain, which means it has two blockchains instead of one. Out of the two,  one blockchain manages general ordinary transactions while the other manages the smart contracts. The logic behind this is the ability of Cardano to remain scalable and fast as two types of transactions will not slow it down. Most of its investors are in Japana, hence, Cardano is also known as the “Japanese Ethereum” because it uses the same Proof of Stake algorithm which Ethereum is planning to do for a long time. In February 2021, Cardano almost hit the $30.7 billion market cap.

5 . Dogecoin

Dogecoin has stood strong even after not being taken seriously. First, Redditors spiked the price to new heights in early 2021 as a way to prevent the speculated short-selling of Dogecoins by many Wall Street hedge funds. And then, Elon Musk called himself the “Dogefather” promoting this cryptocurrency further. While many argue the legitimacy of this coin, Dogecoin continues to have its share of market value. In April 2021, Dogecoin hit its all-time high of $0.2917. After a steady growth further, Elon Musk’s SpaceX has now announced that it accepts Dogecoins as a mode of payment.