How to invest in cryptocurrency in India? Here’s the Beginners guide to kickstart your journey
There are two sides to every market and the Crypto market has it too. Many suggest 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.
New Delhi: Cryptocurrency is the new trend and the whole world is going crypto-way. As it is proving to be one of the biggest disruptions to traditional finance, a huge number of people have started to start investing in some cryptocurrencies this year and right now there are more than a thousand cryptocurrencies to make it a very difficult decision for the investor as to which currency should they pick.
There are two sides to every market and the Crypto market has it too. Many suggest 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 kinds of people have influence over the market, like, Tesla Chief Elon Musk keeps tweet over the crypto all the time.
If you want to invest in cryptocurrency then follow these simple steps:
1. Find a Crypto exchange platform
The first thing you need to get started is to find and choose a crypto exchange platform. You need to do a detailed background check on the core team behind the exchange as cryptocurrencies are not regulated in India and anyone can start an exchange platform.
WazirX, CoinDCX, and CoinSwitch Kuber are some of the popular exchanges in India.
2. Create an account to start investing
After finalising the platform you need to sign up to open an account. The crypto exchange platform will require you to verify your identity. You can complete this step by submitting your PAN card, Aadhaar card, or driver incense details.
3. Deposit money and get started
Now to buy any crypto you will need funds in your account to invest. Link your crypto account with your bank account and deposit money via a wire transfer by using a debit/credit card.
4. Buy your first crypto
Once all of the above steps are done, you’re ready to enter the crypto world. There are a number of different cryptocurrencies in which you can invest. Bitcoin, Ethereum Dogecoin, and Shiba Inu are among the famous ones. You can easily invest in any of the cryptos multiple times. Every coin has their symbols like Bitcoin is known as BTC, Ethereum by ETH, and Dogecoin as DOGE.