Published Jun 6, 2021
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Technology
Investment

Bitcoin - Can I Invest In Cryptocurrency

Published Jun 6, 2021
2 mins read
404 words

The recent All-Time-High's in crypto market has grabbed eyes of almost every human. But great things comes at great risk.

let's understand crypto.

cryptocurrency or crpto includes bitcoin and several other coins such as ethereum etc known as altcoins. cryptocurrency is a digital asset or digital currency working on blockchain technology.

Blockchain is nothing but a distributed network.

Can I invest in crypto?

Crypto market unlike stock market is extremely volatile, meaning it can give you 100x profit or vice-versa.

The recent bear run was huge almost plunges 60-80% from ATH. So this may be the right time to get into crypto.

How to invest in crypto?

  • Research and select the coins to invest, do not invest on coin based on memes or post from social media.
  • Invest gradually (i.e) if you have 1000 bucks to invest split into chunks as 200's and invest gradually this can give you a better average invested amount on the volatile market.
  • Don't panic sell if price drops. Even though the price dropped upto 80% it again gained 40% its value. so never panic sell if price drops.

Where to buy crypto?

To buy crpto in use cryptoexchanges. These exchanges provided better price and fees compared to others.

  1. Wazirx leading crptoexchange in India
  2. zebpay - provides lennding feature.

How to earn using crypto?

Crypto market provides several ways to earn profit from. These involes 

  • Hodl-ing.
  • Mining.
  • Stakeing.
  • Lending.

Hodl-ing is where you buy certain crypto and hold for its value to raise. This is the general concept of investing.

Mining is the process where you set up a computer note to validate transactions done on the crypto network. you are awarded for the validation work done. 

Staking is the process where you hold a certain amount of crypto for functioning of the network, for which you will be awarded.

Lending where you invest the crypro for which you gain intrest. This is similar to where you open a deposit on bank where you get paid on interest.

 

Wazirx leading crypto exchange

Some of the major altcoins other than crpto are.

  • Ethereum 
  • Binance coin 
  • Cardano 
  • Matic 
  • Stablecoins such as USDT, DAI etc

Investing in crypto is on your own risk. Never invest in crypto based on tweets or any memes from any meme page. Do your own research or get help of a professional trader. And never panic sell if the price goes down.

##bitcoin #earning #rich
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4
strikeredge 6/6/21, 8:24 PM
1
Good
1
ramayug.candlemonk 6/7/21, 1:07 AM
1
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1
sumitsing 6/7/21, 3:51 AM
1
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1
tkratika 6/12/21, 3:44 AM
Informative ๐Ÿ‘

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