Today, cryptocurrency is the most popular investment for people of all ages. It is no longer a foreign concept, as it continues to make headlines. So naturally, we want to dive in and make a fortune when we hear about cryptocurrency these days. However, people are rushing in because they are afraid of missing out. As a novice, you may be intimidated by the term cryptocurrency. But, with a bit of research, planning, staying updated with crypto news, and a good strategy, you can begin right away in the right direction.
Once you start learning about it, you’ll find it quite enjoyable. The more you explore cryptocurrency, the more intrigued you will become. Cryptocurrency is a digital currency that can be traded and invested from anywhere. It is a medium of exchange used to purchase goods and services without the involvement of a bank. We can sell crypto via the coin bazaar app in the same way we trade traditional money.
Cryptocurrencies have full potential, and with available technology, they can completely replace traditional payment methods such as cash, debit cards, credit cards, and checks.
Looking at its history itself, it is flabbergasting. Looking at its history, it is flabbergasting. An American cryptographer David Chaum coined the term cryptocurrency in the 1980s. David used cryptography to encrypt and verify transactions, making them untraceable. They began researching cryptography tools in the 1990s to create a decentralized digital currency that won’t need support from banking institutions.
Finally, in 2008, an unknown individual named Satoshi Nakamoto submitted his Bitcoin White Paper, which marked the beginning of cryptocurrency. On January 12, 2009, Nakamoto and Hal Finney made the first Bitcoin transaction. An individual paid 10,000 bitcoins for two pizzas in the early days of bitcoin. He could easily be a millionaire with those bitcoins, if not a billionaire.
Some of the top class cryptocurrencies today are as follows:
- Binance coin
- Bitcoin cash
- Shiba Inu
- Internet Computer
- Ripple (XRP)
Still, bitcoin is the most expensive cryptocurrency because it has been in existence the longest. But it is also the most costly cryptocurrency right now. Of course, not everyone can afford to keep and send bitcoin in a bitcoin wallet. Still, you might be perplexed to learn that there are many cryptocurrencies you can invest in without breaking the bank, like Cardano, Solana, Polygon, Decentraland, and many more.
Still, it would help if you cautioned and thoroughly researched which cryptocurrency you intend to invest in. Some crypto treding app allow you to invest as little as 100 rupees! Do you believe it? Whether you want to put a little or larger sum, everyone has apps.
Cryptocurrency money investment app charge commissions and withdrawal fees, but they vary depending on the app. You’ll need a wallet to store and trade your bitcoin and altcoins. To secure any bitcoin wallet in India, the wallet uses two-factor authentication.
Experts say you should only invest 1 percent to 5% of your net worth because cryptocurrency is volatile, so don’t invest aggressively. If you want, you can get trading tips from Upstox.
Happy crypto trading.