Should i Invest in bitcoin or dogecoin?Is it safe or risky ? What is Crypto Currency?
If you are confused with all these questions and want to know about crypto currency then read this blog carefully.
Table of Contents:
#1. What is Crypto Currency?
#2. Is my investment is safe or risky?
#3. How to invest in Crypto in India?
#4. Honest Opinion
What is Crypto Currency?
Crypto currency is a decentralised digital currency. It means currency not controlled by any authority or intermediary. Basically, Crypto Currency is technology based Currency and is peer to peer connection which means direct seller to buyer.
In simple way, let us assume you have to buy a product which is of worth of 100 INR and so you have a payment of 100 INR which includes tax and other charges also. So, in order to save tax crypto currency is formed which creates bridge between direct seller to buyer.
As,it is not monitoring by any intermediary, it can not be banned by one.
Should I invest in Crypto Currency? Is it safe or not?
As, we know Elon musk and many other business man is supporting Crypto Currency. So,it creates hike in people for invest in it. As a result, crypto currency like Bitcoin and Doge Coin get high and give high returns.
Also, Crypto Currency is highly volatile and may have high chance to crash because many of early invester takes more than 90 percent stake in Crypto.But, if you really want to invest in it, i recommend you to invest a very small part of your savings to get kicks of it.
Well, Investments are rated to market risk, you have to invest on your own risk.
How to invest in Crypto Currency in India?
As we know Crypto Currency is not supported by india, because of its highly volatile. Well, if you really want to invest in Crypto, there are many platforms are available which helps you to buy or sell Crypto Currency in one single click.
Like, Coinswitch Kuber, WazirX , CoinDCX GO and many more.All you have to do is,
✴️ Install Application and Sign Up there with your number
✴️ Complete KYC with pan card and Adhar Card
✴️ Submit Your Bank Details and Uploads all Documents Successfully.
It usually takes 5 to 10 minutes to verify and you have all set to Buy.
Now, Buy or Sell any Crypto Currency whichever you want.
Conclusion:
As, Crypto Currency is highly volatile and is decentralised digital currency so it has high chance to used for crimes and also, more than 90 percent stake has owned by huge investers so it has high chance to crash in single second. One should have to invest all their saving and income because of it remaining all time high.
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