The purpose of HTML0 is to invest in cryptocurrency
The first cryptocurrency to come into the existence was Bitcoin that was based on Blockchain technology. It was created in 2009 by an unknown individual Satoshi Nakamoto. As of the time I wrote this blog 17 million bitcoin had been mined, and it is believed that a total of 21 million bitcoins can be extracted. Other cryptocurrencies that are popular include Ethereum, Litecoin, Ripple, Golem, Civic and hard forks of Bitcoin such as Bitcoin Cash and Bitcoin Gold.
It is recommended to investors not to put Best crypto insurance company all their money into one cryptocurrency and to stay clear of investing during the height of cryptocurrency bubble. It has been noticed that prices have suddenly reduced when it’s at the top of the cryptocurrency bubble. Because cryptocurrency market is volatile, therefore investors must only invest the amount they are able to lose since there is no oversight by any authority on cryptocurrency since it is a decentralized currency.
Steve Wozniak, Co-founder of Apple predicted that Bitcoin is real gold that will be the dominant currency of all currencies such as USD, EUR, INR, and ASD in the near future, and will become a the world’s currency in the coming years.
Why and why not To Invest in Cryptocurrencies?
Bitcoin is the very first digital currency that came into existence, and since then around 1600+ cryptocurrency has been introduced with a unique characteristic for each one.
A few of the reasons I’ve experienced and I would like to share with you, cryptocurrency was created using a decentralized platform which means that users don’t need an intermediary to transfer their cryptocurrency from one location to another one, in contrast to fiat currencies which requires an intermediary like a Bank to transfer funds between accounts. the other. Cryptocurrency is based on a secure blockchain technology, and has almost no chance of hacking and take your cryptocurrency until you’ve shared your crucial details.
You should always avoid buying cryptocurrencies at the high point of cryptocurrency-bubble. A lot of people buy cryptocurrency at the top of the market hoping to make fast money, only to fall victim to the hype surrounding bubbles and end up losing their money. It is best for investors to conduct a thorough research prior to investing their money. It is always advisable to invest your money in several cryptocurrencies rather than one since it has been observed that a few cryptocurrency grow faster than others, and some are more average when other cryptocurrency’s go to an area of red.
Bitcoin and Cryptocurrencies in Focus
The year 2014 was the most successful for Bitcoin. Bitcoin is the sole holder of 90 percent market, while the rest of the cryptocurrency market holds the remaining 10 percent. 2017 was a year of change. Bitcoin remains the dominant player in the market for crypto, but its share has slowed from 90 percent to 38%. altcoins such as Litecoin, Ethereum, Ripple have grown quickly and captured the majority part of the marketplace.
Bitcoin remains the dominant market for cryptocurrency, but it’s not the only cryptocurrency should be considered when investing in crypto. A few of the most popular cryptocurrencies to consider are:
Where and how to purchase Cryptocurrencies?
In the past, it was difficult to purchase cryptocurrency, but today the buyers have a variety of platforms available.
As of 2015 India is home to two bitcoin platforms: The Unocoin wallet as well as Zebpay wallet, which allows users to purchase and sell bitcoins only. Users must purchase bitcoin through their wallets only, but not from a third party. There was a different between buying and selling rate , and the users have to pay a small fee to complete their transactions.
The Cryptocurrency market increased dramatically and the cost of Bitcoin increased rapidly, particularly during the last six months of 2017 . This made people look for alternatives to Bitcoin and surpassed 14 lakh on the Indian market.
According to Unodax as well as Zebpay are the two main platforms in India which dominated the market, with 90 percent market share that was based on Bitcoin only. This gives opportunities to other organizations to expand their reach by partnering with other altcoins , and can even force Unocoin and other companies to add additional currencies to their platform.
Unocoin is one of the most prominent Indian cryptocurrency and blockchain companies, has created an exclusive platform called UnoDAX Exchange for their users to trade various cryptocurrencies aside from trading of Bitcoin with Unocoin. The main difference between the two platforms was that Unocion offered immediate buy and sell of bitcoin, whereas on UnoDAX users can place an order for any cryptocurrency, and if it is compatible with the person who will receive the order, the transaction will be fulfilled.
Other exchanges that allow you to trade cryptocurrency in India include Koinex, Coinsecure, Bitbns, WazirX.
Users must open an account on any exchange by the registration process by submitting an email ID and then submitting KYC information. After their account is verified, they can begin trading in the currency that they prefer.
Users have to research well before investing in any coins and not fall into the trap of cryptocurrency-bubble. The exchange’s reliability and transparency, security features, and more.
All Exchanges charge a nominal fee for each transaction. There are two kinds of fees – Taker fee and Maker fee. In addition to the transaction fee you must pay the fee for transfer, if you wish to transfer your cryptocurrency to another exchange or your personal wallet. The fees are based on the exchange and coins since each exchange has a different price modules for the transfer of the coins.
Major altcoins that are not Bitcoin. Bitcoin
As we have mentioned, Bitcoin is dominating the market, with a 38% market share , followed by Ripple, Ethereum, Litecoin, Bitcoin Cash. Exchanges such as UnoDAX, Bitfinex, Kraken, Bitstamp have listed many other coins such as Golem, Civic, Raiden Network, Kyber Network, Basic Attention, 0X, Augur, Monero, Tron and numerous others. If any of these coins are in your portfolio, then you should buy it.
However, you should place your money into the market that you are able to lose because the cryptocurrency markets are extremely unstable and there is no government any control over it.
What is the best time to buy?
There is no set rule for when to purchase your favorite cryptocurrency. However, one should research the market stability. It is not advisable to invest during the height of a crypto bubble or when prices are crashing constantly. The best time to invest is when the price has remained steady at a lower value for a period of time.
Cryptocurrencies Storage Method
Before purchasing any cryptocurrency, one must know how to safeguard your cryptocurrency.
In general, all exchanges offer a storage facility which allows you to store your money in a safe place. You should not divulge your username, password, or user information with anyone. 2FA, or account details when holding the cryptocurrency in exchanges.
Paper wallet, hardware wallet, Software wallet are a few of the ways to keep their crypto.
Paper Wallet: A paper wallets are an off-line cold storage system to store your crypto. It prints your public and private key onto a piece of paper on which a QR codes are also printed. You just need to look up the QR code to verify any future transactions. What is the reason it’s safe? There is no need to be concerned about hacking your account or the attack of malware that is malicious. It is enough to keep the piece of paper in a safe and, if you can, keep two to three pieces of paper in your wallet under your total control.
Hardware Wallet: A hardware wallet is a tangible device that helps you safeguard your cryptocurrency. There are a variety of hardware wallets, but the most commonly employed is USB. If you store your cryptocurrency in a hardware wallet, you must keep in your mind that you must not lose your hardware wallet because when it’s lost, it is impossible to recover your currency.
A famous incident occurred, in which someone has mined more than 7000 bitcoins and stored it their wallet in their hardware and kept it in a different hardware wallet. Then one day, he threw away the wallet that the cryptocurrency was stored instead of the damaged hardware, and lost all of his bitcoin.
What are the best cryptocurrencies to buy in India?
The majority of people believe that selling and buying cryptocurrency is only to invest and get high returns both on the short and long-term. Bitcoin investors and influencers believe that in the coming years Bitcoin will be the most dominant of all fiat currencies and be recognized as an International currency.
Dell is among the biggest online retailers that accepts bitcoin for payment. Expedia and UNICEF are two other examples.
Then in India, Sapna Book Mall accepted bitcoin payments through the Unocoin Merchant Service. Customers were able to book tickets for movies via BookMyShow or charging their mobiles via the Unocoin platform. According to the report, they’ve stopped the service, but they plan to resume it in the near the future.
Cryptocurrency is among the fastest growing areas of investment and has provided better yields than gold, real estate and stock-markets over the years. It is possible to buy cryptocurrency and keep it for the long-term to earn good returns, or invest in the short-term to make a quick profit, as we have witnessed the growth of many coins at 1000%+ over the past. Because cryptocurrency is an unstable market, there is no regulation by the government can be imposed on the market. You must put the money that they are able to afford losing.