Cryptocurrency – The Way Forward and Possibilities

If you are investing in cryptocurrency for the first time, we recommend that you get a basic understanding of the industry. In this article, we will give you 5 tips and tricks that will help you become a better investor. By keeping these tips in mind, it will be easier for you to succeed as a beginner.

1. Find reputable news sources

You will find different opinions about the cryptocurrency world. According to some, crypto is just a fad, while others think it’s a great investment, especially if you want to invest your money for the long term.

If you are sure that you can profit from Crypto, you should pay attention to reliable sources and not listen to believers. To succeed as an investor, you need to consider certain facts and then proceed to invest your money wisely.

2. Prepare for Volatility

Unlike regular currency, cryptocurrency is not that stable. A few months back, the value of one of the most popular cryptocurrencies called Bitcoin was around $40000. But now it’s down to $30,000. So what you need to do is to make your decision wisely. If you become greedy, you can suffer huge losses.

Even if you ask expert crypto traders, they will say that they do not have mastery of the art. So you need to be careful when investing in crypto, as crypto currency is quite volatile.

3. Consider other Altcoins

When it comes to cryptocurrency, you’re not limited to just Bitcoins. That’s why it’s not a good idea to put all your eggs in one basket. In other words, you should also invest your money in other types of cryptocurrencies.

So what you need to do is do your homework and find out which ones are good. In other words, you should choose the top 5 cryptocurrencies and invest your money in them.

4. Learn about hot and cold wallets

Although cryptocurrency is a digital currency, you can store them in your hot wallets on the Internet. But if you are just starting out, you might want to give offline wallets a try as they are quite useful and versatile.

On the other hand, it is true that cold wallets offer protection against hackers. Therefore, if you want to diversify your assets, we recommend that you learn about both hot and cold portfolios.

5. Be alert

Although cryptocurrencies have higher security standards than conventional currencies, we recommend that you take precautions. So what you need to be careful about is investing a large amount of money in this type of digital currency.

You should discover different methods of managing your transactions and see if you can effectively manage your cryptocurrency responsibly.

Conclusion

In short, you’ll want to follow these 5 tips and tricks if you want to be successful as a cryptocurrency trader or investor.

Whether it’s the idea of ​​cryptocurrencies themselves or the diversification of their portfolio, people from all walks of life are investing in digital currencies. If you’re new to the concept and wondering what’s going on, here are some basic concepts and considerations for investing in cryptocurrencies.

What cryptocurrencies are available and how do I buy them?

With a market cap of around $278 billion, Bitcoin is the most established cryptocurrency. Ethereum is second with a market cap of over $74 trillion. Besides these two currencies, there are other options including Ripple ($28B), Litecoin ($17B) and MIOTA ($13B).

Being the first to market, there are many exchanges worldwide for Bitcoin trading. BitStamp and Coinbase are two popular US-based exchanges. Bitcoin.de is an established European exchange. If you are interested in trading other digital currencies along with Bitcoin, then this is a crypto market where you will find all digital currencies in one place. Here is a list of exchanges by 24-hour trading volume.

What options do I have to save my money?

Another important consideration is the storage of coins. One option, of course, is to store them in the exchange you buy them from. However, you will need to be careful when choosing an exchange. Due to the popularity of digital currencies, many new and unknown exchanges have appeared everywhere. Take the time to do your due diligence so you can avoid scammers.

Another option you have with cryptocurrencies is that you can store them yourself. One of the safest options for storing your investment is hardware wallets. Companies like Ledger allow you to store Bitcoins and many other digital currencies.

What is the market like and how can I find out more about it?

The cryptocurrency market changes a lot. The volatile nature of the market makes it more suitable for long-term play.

There are many news sites that report on digital currencies, including Coindesk, Business Insider, Coin Telegraph, and Cryptocoin News. In addition to these sites, there are many Twitter accounts that tweet about digital currencies, including @BitcoinRTs and @AltCoinCalendar.

Digital currencies aim to disrupt the traditional currency and commodity markets. Although these currencies still have a long way to go, the success of Bitcoins and Ethereum have shown that there is real interest in the concept. Understanding the basics of cryptocurrency investing will help you move in the right direction.

In 2017, Bitcoin saw a huge growth and people made a lot of money in the process. Even today, Bitcoin is one of the most profitable markets. If you’re a beginner, you’ll want to do your homework before putting your money into Bitcoin. Below are expert tips that will help you avoid some common mistakes while trading Bitcoins.

1. Learn the basics first

First, you want to learn the basics so you can get a better idea of ​​buying and selling Bitcoin. You’ll also want to read reviews of popular Bitcoin exchanges to find the best platform.

As with other types of financial investments, you may want to find ways to protect your investment. Make sure your assets are safe from fraudsters and cyber attacks. After all, security is the most important aspect of any type of investment.

2. Consider Market Cap

It is not a good idea to make this type of decision based solely on the price of the coin. However, cryptocurrency value is only valid if you consider the supply in circulation.

If you want to buy Bitcoin, don’t focus too much on the value of the currency. Instead, you might want to consider the aggregate market cap.

3. Invest in Bitcion instead of Mining Bitcoins

The Bitcoin mining industry is growing in popularity at a rapid pace. In the beginning, it wasn’t that difficult to earn Bitcoins by cracking cryptographic puzzles. Later, it became possible to mine Bitcoin only in special data centers.

These centers are full of machines designed for Bitcoin mining. Today, if you want to build a home-based mining center, you might have to spend millions. So it is better to invest in Bitcoins.

4. Diversify your investments

New Bitcoin investors tend to have a short-lived passion for cryptocurrency. In fact, with Bitcoin, you can diversify your investment risk. If you invest wisely in cryptocurrencies, you can enjoy the same rewards as you do investing in Forex. All you need to do is put together a solid risk management strategy.

In other words, you may not want to put all your eggs in one basket. So you might want to invest in other cryptocurrencies as well.

5. Set Clear Goals

Since Bitcoin is a new market, it may be difficult for you to know the right time to exchange your Bitcoin. The value of Bitcoin is volatile, which means you need to have clear goals in terms of profit and loss.

You may not want to make the mistake of making investment decisions based on your emotions. Making smart moves will help you minimize losses and make good progress.

In short, if you are going to invest in Bitcoin, we recommend that you follow the advice given in this article. This will help you make informed decisions and stay safe at the same time. Make sure you avoid common mistakes when running this business.

If you’re looking for a reliable custody service for your digital assets, you might want to check out Bitmarque. Started in 2017, Bitmarque is a unique cold storage solution without any single point of failure.

The blockchain experts behind this service use military-grade security systems and a secure offline wallet. They have made an effort to bridge the gap between insurance and cryptocurrencies.

In fact, Bitmarque has introduced a truly unique insurance for the deep cooler, which is a type of consortium for interested investors.

Actually, the beauty of this new service is that it gives investors peace of mind.

When it comes to cryptocurrency, the biggest problem that currency owners face is the issue of security. In other words, they are worried about losing their digital currency. This is where Bitmarque comes to the rescue.

The company has its own digital assets, many financial institutes and offline assets, which is why it is the only insured protection service provider for cryptocurrency holders.

let’s take a closer look at this service.

What is Bitmarque?

As mentioned earlier, Bitmarque is a unique service as it offers an insured custodial service for cryptocurrency holders.

This service is a pure cold storage solution. It is a combination of multi-signature approvals and smart contracts with deeper protection methods. Therefore, this system is insured by a strong financial consortium. Therefore, it offers a financial consortium that gives your currency a high level of safety and security. Your deposits will be safe. You won’t have to worry about them.

How safe will your property be?

The provider uses military-grade security protocols, offline systems and cold storage. For added security, systems are installed worldwide in secret locations. They also use several layers of encrypted firewalls for the highest level of protection.

With so many approval systems in place, you can rest assured that your digital assets won’t go anywhere, no matter what kind of threats there may be. Company employees or senior management will not have full access to your assets unless you give your permission.

How does the service protect your digital assets?

If you are concerned about the protection of your digital assets, know that security protocols are as secure as those used by the military. The company has a technological solution that offers a high encryption and security protocol. The use of smart contracts and physical vaults located in different secret locations around the world ensures that your digital assets are always in good hands.

Supported Cryptocurrencies

You can deposit Litecoin and Bitcoin, but you can also contact Bitmarque to learn about other currencies. However, they do accept other cryptocurrencies.

the cost

If you want to join the service, you have to pay a one-time registration fee and a small monthly fee and bank transaction fee. For more information, please contact Bitmarque.

Join without referral

You can’t get in without a recommendation if you don’t meet certain criteria. It is best to contact the company to discuss the matter.

So this was a short review of Bitmarque. Hope this helps.

For some time now, I have been closely watching the performance of cryptocurrencies to see where the market is headed. The routine my primary school teacher taught me – where you wake up, pray, brush your teeth and eat breakfast has changed a bit to wake up, pray and then go online (starting with coinmarketcap) to find out what crypto assets are. Red.

The start of 2018 was not pretty for altcoins and related assets. Their performance was hampered by frequent bankers’ opinions that the crypto bubble was about to burst. However, ardent cryptocurrency followers are still “HODLing” and are actually reaping the big bucks.

Recently, Bitcoin returned to almost $5000; Bitcoin Cash approached $500, while Ethereum found peace at $300. They got almost all the coins from newcomers who were still in the excitement phase. At the time of writing, Bitcoin is back on track and trading at $8900. Many other cryptos have doubled since the start of the uptrend and the market cap is resting at $400 trillion from a recent peak of $250 billion.

If you are slowly warming up to cryptocurrencies and want to become a successful trader, the tips below will help you.

Practical tips for trading cryptocurrencies

• Start small

You’ve already heard that cryptocurrency prices are on the rise. You’ve probably also heard the news that this uptrend won’t last much longer. Some naysayers, mostly esteemed bankers and economists, usually call it a get-rich-quick scheme with no stable foundation.

Such news makes you invest in haste and if you don’t apply moderation. A little analysis of market trends and currencies worth investing in can guarantee you a good return. Whatever you do, don’t invest all of your hard earned money in these assets.

• Understand how exchanges work

I recently saw a friend of mine post a Facebook feed about a friend of his going into trading in an exchange, and he had no idea how it worked. This is a dangerous move. Always review the site you want to use before you register, or at least before you start trading. If they offer a fixed account to play with, take that opportunity to get a feel for what the dashboard looks like.

• Do not insist on negotiating everything

There are more than 1400 cryptocurrencies to trade, but it is impossible to deal with them all. Extending your portfolio to a larger number of cryptos than you can effectively manage will decrease your profits. Select some of them, read more about them and how to get trading signals.

• Stay sober

Cryptocurrencies are volatile. This is both their misfortune and their benefit. As a retailer, you must understand that wild prices are inevitable. The uncertainty of when to make a move makes him an ineffective trader. Leverage hard data and other research methods to ensure when a trade should be executed.

Successful traders belong to various online forums where cryptocurrency discussions about market trends and signals are discussed. Sure, your own knowledge may be enough, but you have to rely on other traders for more relevant data.

• Diversify wisely

Almost everyone will tell you to expand your wallet, but no one will remind you to deal with currencies that have real-world uses. There are some crappy coins you can deal with for quick cash, but the best cryptos to deal with are the ones that solve existing problems. Coins with real-world uses have been less volatile.

Don’t diversify too early or too late. And before you make the move to buy any crypto asset, make sure you know its market cap, price swings, and daily trading volumes. Maintaining a healthy portfolio is the way to get big from these digital assets.

Rich rewards often come with high risks, and the same is true of the highly volatile cryptocurrency market. The uncertainty of 2020 increased the interest of the masses and large institutional investors globally to trade cryptocurrencies, a new age asset class. Increasing digitization, inflexible regulatory frameworks and the Supreme Court’s lifting of a ban on banks dealing with crypto-based companies have parked the investments of more than 10 million Indians in the past year. Several major global cryptocurrency exchanges are actively looking into the Indian crypto market, amid a steep price decline that has been showing a steady rise in daily trading volume over the past year, as many investors looked to buy value. As the cryptocurrency craze continues, many new cryptocurrency exchanges have sprung up in the country that enable buying, selling and trading through simple apps that provide functionality. WazirX, India’s largest cryptocurrency trading platform doubled its users from one million to two million between January and March 2021.

What is driving the world’s largest crypto exchanges to the Indian market?

In 2019, Binance, the world’s largest cryptocurrency exchange by trading volume, acquired the Indian trading platform, WazirX. Coin DCX secured investment from Seychelles-based BitMEX and San Francisco giant Coinbase. Crypto and blockchain companies in India attracted USD 99.7 million in investment by June 15, 2021, for a total of about USD 95.4 million in 2020. In the last five years, global investment in the Indian crypto market has increased. A whopping 1487%.

While India’s policy is unclear, global investors are betting big on the country’s digital currency ecosystem due to various factors such as

• Tech-savvy Indian population

The main population of 1.39 billion inhabitants is young (average age between 28 and 29) and they are technological. Older generations still prefer to invest in gold, real estate, patents or stocks, while the newer ones are embracing high-risk cryptocurrency exchanges as they are more adaptable to them. India is ranked 11th in Chainalysis’ 2020 report list for global crypto adoption, which shows the excitement about crypto among the Indian population. Neither the government’s respectful attitude towards crypto nor the rumors surrounding crypto are able to shake the confidence of the young population in the digital coin market.

India offers the cheapest internet in the world where a gigabyte of mobile data costs around $0.26 and the global average is $8.53. Thus, nearly half of the billion users are taking advantage of affordable internet access, which increases India’s potential to become one of the largest crypto-economies in the world. According to SimilarWeb, the country is the second largest source of web traffic for Peer-to-peer bitcoin trading platform, Paxful. While the mainstream economy is struggling from the “pandemic effect”, cryptocurrency is gaining momentum in the country as it offers the younger generation a new and fast way to earn money.

It’s safe to say that cryptocurrency can become the Indian millennial who is gold to their parents!

• The rise of Fintech Start ups

The cryptocurrency craze spawned many trading platforms such as WazirX, CoinSwitch, CoinDCX, ZebPay, Unocoin and many more. These cryptocurrency exchange platforms are highly secure, available on multiple platforms, and enable instant transactions, providing a user-friendly interface for crypto enthusiasts to buy, sell or sell digital assets without limits. Many of these platforms accept INR for purchases and trade fees as low as 0.1%, making simple, fast and secure platforms a win-win for first-time investors and local traders.

WazirX is one of the leading cryptocurrency exchange platforms with over 900,000 users and offers its customers unparalleled transaction capabilities. CoinSwitch Kuber offers the best cryptocurrency exchange platform for Indians and is ideal for beginners as well as everyday users. Unocoin is one of the oldest cryptocurrency exchange platforms in India and has over 1 million traders through mobile apps. CoinDCX offers users 100+ cryptocurrencies as options to trade and also offers investors insurance to cover losses in the event of a security breach. So, global investors are looking at the plethora of cryptocurrency exchange platforms in India to take advantage of the emerging market.

• Mixed response from the government

A bill to ban a virtual currency that would criminalize anyone involved in the ownership, issuance, mining, trading and transfer of crypto-assets may become law. However, Finance and Corporate Affairs Minister Nirmala Sitharaman allayed investors’ concerns by saying that the government has no plans to completely ban the use of cryptocurrency. In a statement to a leading English newspaper, the Deccan Herald, the finance minister said: “On our part, we are very clear that we are not closing all opportunities. We will allow certain windows for people to experiment with blockchain, bitcoins or cryptocurrencies.” It is clear that the government is still considering the national security risks posed by cryptocurrencies before deciding to impose a total ban.

In March 2020, the Supreme Court overturned the central bank’s decision to ban financial institutions from trading in cryptocurrencies, prompting investors to flock to the cryptocurrency market. Despite the lingering fear of the ban, transaction volume continued to grow, and user registration and local crypto exchange revenue grew 30 times from a year ago. One of the oldest exchanges in India, Unocoin added 20,000 users in January and February 2021. The total Zebpay volume per day in February 2021 was equivalent to the volume generated in the entire month of February 2020. The minister said in an interview on CNBC-TV18: “I can only give you this hint that we are not closing our minds, we are looking at ways that experiments can happen in the digital world and in cryptocurrencies.”

Instead of sitting on the sidelines, investors and stakeholders want to make the most of the growing digital currency ecosystem until the government bans “private” cryptocurrency and announces a sovereign digital currency.

Is India Moving Towards Financial Inclusion With Cryptocurrency?

Once considered a “Boy’s Club” due to the male-dominated engagement of the cryptocurrency market, the ever-growing number of female investors and traders has brought greater gender neutrality to new, digital forms of investment methods. Earlier, women used to stick to traditional investments, but now they are taking risks and entering the crypto space in India. After the apex court cleared the legality of ‘virtual currency’, Indian cryptocurrency platform, CoinSwitch saw an exponential growth of 1000% in its female users. While women investors still constitute a small percentage of the crypto community, they are putting up stiff competition in the Indian market. Women tend to save much more than men and more savings means more diversity in investments, such as high-return assets like cryptocurrencies. Also, women are more analytical and better at assessing risks before making the right investment choices, so they are more successful investors.

Increasing mainstream adoption of institutional cryptocurrency

The uncertainty and panic created by SARS-Covid 19 caused a liquidity crisis even before the economic crisis began. Many investors converted to cash to protect their finances, which caused bitcoin and altcoin prices to collapse. But even though crypto suffered a major crash, it still managed to be the best asset class of 2020. With the increased vulnerability of the system and the loss of confidence in the current design of central bank policies and money, people. they have increased the appetite for digital currencies which caused the cryptocurrency to bounce. Due to the excellent performance of cryptocurrency in the midst of the financial crisis, the upward trend has strengthened the interest in the virtual currency market in Asia and the rest of the world.

Furthermore, to feed society’s demand for convenient and reliable transaction solutions, digital payment gateways such as PayPal have also shown support for cryptocurrencies that allow consumers to hold, buy or sell virtual assets. Recently, Tesla CEO Elon Musk announced an investment in the cryptocurrency market worth $1.5 billion and that the electric company would accept bitcoin from buyers, which caused the international bitcoin price to rise from USD 40,000 to USD 48,000 in two periods. the days Two of the world’s largest payment platforms, Visa and Mastercard, are also accepting cryptocurrencies as a means of making transactions. While Visa has announced that it will allow transactions with stablecoins on the Ethereum blockchain, Mastercard would begin transactions with the crypto in 2021.

What does the future hold for the Indian Cryptocurrency market?

The cryptocurrency market in India is not immune from massive crypto crashes. Despite massive investment from global counterparts, local investors are keeping their distance from crypto investments due to uncertainty about the legality of India’s digital coin ecosystem and high market volatility. Although the cryptocurrency market has been growing since last year, Indians own less than 1% of the world’s bitcoin, which creates a strategic disadvantage for the Indian economy. The Indian government plans to appoint a new board to look into the possibility of regulating digital currencies in the country and also to focus on blockchain technology and propose technological improvements.

Blockchain technology’s ability to provide a secure and immutable infrastructure has been implemented by various industries to inject transparency into transactions. For a country with more than 15 million crypto users, the committee’s new recommendation could go a long way in determining the future of Indian cryptocurrencies. However, stakeholders believe that the technical and economic power will make India a key player in the crypto and blockchain market. Gradually, cryptocurrency is gaining acceptance, which may lead to greater adoption of digital currency.

According to another TechSci Research report “Cryptocurrency Market in India By Offering (Hardware & Software), By Process (Mining & Transaction), By Type (Bitcoin, Etgereum, Bitcoin Cash, Ripple, Dashcoin, Litecoin, Others), By End User (Banking, Real Estate, Stock Market & Virtual Currency), Regions, Forecasts and Opportunities, 2026″, Cryptocurrency in India is expected to grow at a high CAGR, driven by the growing demand for transparency and reduced transaction costs. Also, growing adoption of digital currency and growing blockchain technology will drive crypto in India – they are feeding the currency market.

Cryptocurrency has been around for a long time and there are many articles and articles about Cryptocurrency basics. Cryptocurrencies have not only flourished, but have opened up as a new and reliable option for investors. The crypto market is still young, but it is mature enough to include the right amount of data for analysis and to predict trends. Although it is considered to be the most volatile market and a big bet as an investment, it is now predictable to a certain point and Bitcoin futures are proof of that. Many of the concepts of the stock market have been applied to the crypto market with some changes and modifications. This gives us another proof that many people are adopting the Cryptocurrency market every day, and today there are more than 500 million investors in it. While the total market capitalization of the crypto market is $286.14 billion, which is approximately 1/65th of the stock market at the time of writing, the potential of the market is very high considering its success, despite its age and the presence of already established financial markets. The reason behind this is only that people have started believing in the technology and products that back a crypto. This also means that crypto technology has proven itself and so many companies have agreed to put their assets in the form of crypto coins or tokens. The concept of cryptocurrency was successful with the success of Bitcoin. Bitcoin, once the only Cryptocurrency, now contributes only 37.6% of the entire Cryptocurrency market. The reason is the emergence of new Cryptocurrencies and the success of the projects that support them. This does not indicate that Bitcoin has failed, in fact the market capitalization of Bitcoin has increased, but what this indicates is that the crypto market as a whole has expanded.

These facts are enough to prove the success of Cryptocurrencies and their market. And in fact Crypto is now considered a safe investment in the market, to the extent that some people invest it for their retirement plan. So, what we need next is crypto market analysis tools. There are many such tools that allow you to analyze this market, similar to the stock market that offer similar metrics. Including coin market cap, coin chaser, cryptoz and investment. Although these metrics are simple, they provide crucial information about the crypto under consideration. For example, a high market cap indicates a strong project, a high 24-hour volume indicates high demand, and the circulating supply indicates the total number of coins of that crypto in circulation. Another important metric is the volatility of a crypto. Volatility is how much the price of a cryptocurrency changes. The crypto market is considered to be very volatile, cashing in at a moment’s notice can bring you huge profits or make you lose your hair. So what we are looking for is a crypto that is stable enough to give us time to make a calculated decision. Currencies such as Bitcoin, Ethereum and Ethereum-classic are (not exactly) considered stable. Being stable, they must be strong enough to prevent them from becoming invalid or ceasing to be on the market. These features make it a reliable crypto, and the most reliable Cryptocurrencies are used as a form of liquidity.

When it comes to the crypto market, volatility comes hand in hand, but so does its most important property, which is Decentralization. The crypto market is decentralized, which means that a drop in the price of one crypto does not necessarily mean a downtrend for any other crypto. Thus giving an option as mutual funds are called. It is the concept of managing a portfolio of cryptocurrencies that you invest in. The idea is to spread your investments across multiple cryptocurrencies to reduce risk if any one cryptocurrency starts in a bear market.

Similar to this concept is the concept of Indices in the crypto market. Indices provide a standard reference point for the entire market. The idea is to choose the main currencies in the market and spread the investment between them. These selected cryptocurrencies change if the index is dynamic in nature and only consider the above currency. For example, if a currency “X” falls to the 11th position in the crypto market, the index considering the top 10 currencies would not take into account currency “X”, it would start taking into account the currency “Y” that took its place. Some providers like cci30 and crypto20 have tokenized these Crypto indices. While it may be a good Idea for some, others oppose it because there are some prerequisites for investing in these tokens, for example, a minimum investment is required. While others like Cryptoz provide the methodology and index value along with the currency components so that the investor is free to invest the amount they want and choose not to invest in a crypto that is included in an index. In this way, indices allow you to further smooth volatility and reduce risk.

Conclusion

The crypto market may seem dangerous at first glance and many may still be skeptical of its authenticity, but the maturity this market has achieved in the short period of its existence is amazing and proof enough of its authenticity. The biggest concern for investors is volatility, for which there has been a solution in the form of indices.

Cryptocurrencies are the latest “big thing” in the digital world and are now recognized as part of the monetary system. In fact, fans have labeled it as a ‘money revolution’.

In plain terms, cryptocurrencies are decentralized digital assets that can be exchanged between users without the need for a central authority, most of which are created through special computing techniques known as “mining”.

Currencies Acceptance of currencies such as the US dollar, British pound, and euro as legal tender is because they are issued by a central bank; digital currencies, however, such as cryptocurrencies, do not rely on the public’s trust and confidence in the issuer. As such, several factors determine its value.

Factors that determine the value of cryptocurrencies

Principles of a free market economy (mainly supply and demand)

Supply and demand is the main determinant of the value of anything of value, including cryptocurrencies. That is, if more people are willing to buy a cryptocurrency and others are willing to sell, the price of that particular cryptocurrency will rise, and vice versa.

Mass Adoption

Mass adoption of any cryptocurrency can shoot its price to the moon. This is because many cryptocurrencies have a limited supply and, according to economic principles, an increase in demand without an increase in supply will lead to an increase in the price of that particular commodity.

Multiple cryptocurrencies have invested more resources to ensure their mass adoption, with some focusing on the applicability of their cryptocurrencies to pressing personal life issues, as well as everyday crucial cases, hoping to make them indispensable in everyday life.

Fiat Inflation

If a fiat currency, like the USD or GBP, becomes inflated, its price rises and its purchasing power falls. This will then cause cryptocurrencies (let’s use Bitcoin as an example) to increase relative to that fiat. As a result, with each bitcoin you will be able to acquire more of that fiat. In fact, this situation has been one of the main reasons for the rise in the price of Bitcoin.

History of Scams and Cyberattacks

Scams and hacks are also major factors affecting the value of cryptocurrencies, causing wild swings in valuations. In some cases, the group behind the cryptocurrency may be fraudsters; they will pump up the price of the cryptocurrency to attract unsuspecting people and when the hard-earned money is invested, the fraudsters short the price, and then disappear without a trace.

Therefore, it is essential to be wary of cryptocurrency scams before investing money.

Other factors to consider, which affect the value of cryptocurrencies, are:

• The way cryptocurrency is stored, as well as its availability, security, ease of access and cross-border acceptability

• The strength of the community backing the cryptocurrency (including funding, innovation and member loyalty)

• Low cryptocurrency risks as perceived by investors and users

• News sentiment

• Market liquidity and cryptocurrency volatility

• Country regulations (this includes banning cryptocurrencies and ICOs in China and accepting them as legal income in Japan)

Today, most people are aware of the potential of cryptocurrencies. This industry is experiencing a revolution in the business world. Therefore, more and more investors are entering this industry. Although it is easy to be a part of this industry, achieving success may not be easy for everyone. Therefore, in this article we will share with you some tips for success. Read on to find out more.

1. Research and increase your knowledge

If you don’t have a basic knowledge of something, you can’t put your money on it. Also, if you are new to cryptocurrency trading, make sure you get some basic knowledge first.

At first, you should start learning basic terms like private keys, digital coins, wallets, and public keys to name a few.

2. Consider diversifying your investments

It is important to remember that the value of cryptocurrency units will continue to fluctuate. You cannot predict when the value of a coin will go up or down. So, if you want to be on the safe side, you can consider diversifying your investment.

This will help you minimize your risk and increase your chance of profit. So you might want to stick with this strategy, especially if you’re just starting out.

3. Invest consistently and avoid overtrading

You should invest a couple of hours every day to learn how cryptocurrency trading can be done. You should know how the market works. This will help you get a pretty good idea of ​​the popularity of a specific currency. As a result, you can go for the best investment strategy.

4. Be technological

Also, you need to learn how to use the latest technology to your advantage. Since cryptocurrencies are a type of digital currency, you can buy and sell them using technology. Therefore, you need to learn how to use crypto ATMs and all the other things involved in this process.

5. Beware of scams

No matter what type of business you put your money into, you’ll have to deal with scammers. So, if you know how to use the Internet, you can easily identify scams. If you are well informed, no one can take advantage of you.

6. Consult trusted professionals

It is a great idea to consult trusted professionals in this area. If you follow their advice and take their useful tips, you will be able to take better steps. In this case, you can also watch YouTube videos and join relevant Facebook groups.

You can also consult your friends and family if they have experience in trading and investing in cryptocurrencies.

Final Thoughts

Long story short, if you want to succeed after investing your money and cryptocurrency, we recommend you to follow these 6 tips for success. Hopefully, you will be able to achieve success by following the guidelines provided in this article.

Introduction: To Invest in Cryptocurrencies

The first cryptocurrency to be created was Bitcoin, which was built on Blockchain technology and was probably launched in 2009 by a mysterious person named Satoshi Nakamoto. At the time of writing this blog, 17 million bitcoins have been mined and it is believed that a total of 21 million bitcoins can be mined. Other popular cryptocurrencies include Ethereum, Litecoin, Ripple, Golem, Civic and hard forks of Bitcoin such as Bitcoin Cash and Bitcoin Gold.

Users are advised not to put all their money into one cryptocurrency and to avoid investing at the peak of the cryptocurrency bubble. The price has been seen to drop suddenly when the crypto bubble is at its peak. Since cryptocurrency is a volatile market, users have to invest the amount they can afford to lose as there is no government controlling the cryptocurrency as it is a decentralized cryptocurrency.

Steve Wozniak, co-founder of Apple, predicted that Bitcoin is a real gold and in the future it will dominate all currencies like USD, EUR, INR and ASD and become a global currency in the coming years.

Why and why not to invest in Cryptocurrencies?

Bitcoin was the first cryptocurrency to be created and since then around 1600+ cryptocurrencies have been launched with a unique feature for each coin.

Some of the reasons that I have experienced and want to share, cryptocurrencies are created on a decentralized platform; therefore, users do not need a third party to transfer cryptocurrency from one destination to another, unlike fiat currency, which a user needs. Bank-like platform to transfer money from one account to another. Cryptocurrency is built on a highly secure blockchain technology and the possibility of your cryptocurrency being hacked and stolen is almost nil until you don’t share critical information.

You should always avoid buying cryptocurrencies at the peak of the crypto bubble. Many of us buy cryptocurrencies at their peak hoping to make a quick buck and fall victim to the bubble hype and lose money. It is better for users to do a lot of research before investing their money. It is always good to put your money in more than one cryptocurrency as it has been observed that few cryptocurrencies grow, some average, while other cryptocurrencies go into the red zone.

Cryptocurrencies to focus on

In 2014, Bitcoin has 90% of the market and other cryptocurrencies the remaining 10%. In 2017, Bitcoin is still dominating the crypto market, but its share has greatly decreased from 90% to 38% and Altcoins like Litecoin, Ethereum, Ripple have grown rapidly and taken most of the market share.

Bitcoin is still dominating the cryptocurrency market, but it’s not the only currency you should consider when investing in cryptocurrency. Some of the top cryptocurrencies you should consider:

Bitcoin

Litecoin

Wave

Ethereum

throne

civic

golem

monero

Where and how to buy Cryptocurrencies?

A few years ago, it was not easy to buy cryptocurrencies, but now users have many platforms available.

In 2015, India has two major bitcoin platforms Unocoin wallet and Zebpay wallet where users can buy and sell bitcoin only. Users must only buy bitcoin from their wallet, but not from another person. There was a price difference in the buying and selling rates and users have to pay a nominal fee for completing the transactions.

In 2017, the Cryptocurrency industry grew tremendously and the price of Bitcoin grew by itself, especially in the last six months of 2017, forcing users to look for alternatives to Bitcoin and it crossed 14 lakhs in the Indian market.

Unodax and Zebpay the two leading platforms in India were dominating the market with 90% of the market share – it was only in Bitcoin. It allows other organizations to grow with other altcoins and has also forced Unocoin and others to add more currencies to their platform.

Unocoin, one of the leading cryptocurrency and blockchain companies in India launched an exclusive UnoDAX Exchange platform for their users to trade various cryptocurrencies in addition to Bitcoin Unocoin trading. The difference between the two platforms was that Unocion offered instant buying and selling of bitcoin, on UnoDAX, users can place an order for any available cryptocurrency and if it matches the recipient, the order will be executed.

Other major exchanges available for trading cryptocurrencies in India are Koinex, Coinsecure, Bitbns, WazirX.

Users need to open an account on any exchange by registering with email ID and submitting KYC details. After verifying their account, you can start trading the coins of your choice.

Users should do their research before investing in any coin and don’t fall into the cryptocurrency bubble trap. Users should research the credibility, transparency, security features and many more of the exchange.

All exchanges charge a nominal fee on each transaction. There are two types of charges: Maker fee and Taker fee. In addition to the transaction fee, a transfer fee must be paid if you wish to transfer your cryptocurrencies to another exchange or to your private wallet. Charges are coin and exchange dependent only, as different exchanges have a price difference module for transferring coins.

Top Non-Bitcoin Altcoins

As mentioned above, Bitcoin is dominating the market with a market share of 38% followed by Ripple, Ethereum, Litecoin, Bitcoin Cash. Exchanges like UnoDAX, Bitfinex, Kraken, Bitstamp have listed Golem, Civic, Raiden Network, Kyber Network, Basic Attention, 0X, Augur, Monero, Tron and many other coins. If any of the coins match your wallet, you must buy it.

But, you have to put the money in the market because the cryptocurrency market is very volatile and no government has control over it.

When to buy?

There are no hard and fast rules for when to buy your favorite cryptocurrency. But the stability of the market needs to be investigated. You shouldn’t buy cryptocurrency at the peak of a bubble or when the price is constantly falling. The best time is always considered when the price is relatively stable at a low level for some time.

Cryptocurrency storage method

Before buying any cryptocurrency, it is important to understand how to keep your cryptocurrency safe.

Generally, all exchanges offer safekeeping facilities where you can safely store your coins. No need to share its user details, password, 2FA when you have cryptocurrency on exchanges.

Paper wallet, Hardware wallet, Software wallet are some of its cryptocurrency storage channels.

Paper Wallet: A paper wallet is an offline cold storage method to hold your cryptocurrency. It prints your private and public key on a piece of paper where the QR code is also printed. The QR code must be scanned for future transactions. Why is it safe? There is no need to worry about your account being hacked or malicious malware attacks. You should keep your piece of paper in a cupboard and if possible keep two or three paper portfolios under your control.

Hardware Wallet: A hardware wallet is a physical device where you keep your cryptocurrency securely. There are many types of hardware wallets, but the most commonly used hardware wallet is the USB. When you keep your cryptocurrency in your hardware wallet, you must keep in mind that you should not lose your hardware wallet, because once lost you cannot recover your cryptocurrency.

A famous incident where a person mined 7000+ bitcoins and stored it in his hardware wallet and stored it with another hardware wallet. One day he dropped the hardware wallet that stored his cryptocurrency in place of the damaged hardware and lost all his bitcoin.

What can be bought from cryptocurrencies in India?

Most people think that buying and selling any cryptocurrency is only for long and short term investment and high returns. Influencers and bitcoin investors believe that in the coming years Bitcoin will dominate all fiat currencies and be accepted as an International currency.

Dell is one of the largest e-commerce businesses that accept bitcoin as payment. Other examples are Expedia and UNICEF.

In India, Sapna Book Mall accepted bitcoin as payment using merchant service Unocoin. People used to book movie tickets through BookMyShow or recharge their mobile through the Unocoin platform. According to the report, they have suspended the service but plan to resume it in the near future.

Conclusion:

Cryptocurrency is one of the growing investment sectors and in the past it has given better returns than real estate, gold, stock market etc. You can buy and hold cryptocurrency for the long term for nice returns or for a quick short term return as we have seen many coins grow by 1000%+ in the past. Since cryptocurrency is a volatile market and no government controls the industry. One should invest in any cryptocurrency that can afford to lose the amount.

You can store your cryptocurrency in a hardware wallet, paper wallet, software wallet if you don’t want to store it on the local exchange where you are trading.