Bhai bitcoin ledaal, agar bada banneka tho bada kuch karne ka.
Guess what we are talking about. It is said that:
Wizard Buy Crypto During the Dips; Buy the Dip
So nowadays hot topic is Crypto Currency.
Let us understand the nitty gritty.
A crypto currency is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger computerized database.
How Many Different Types of Crypto Are There?
To your surprise there are over 10,000 different types of crypto currencies which are divided into 2 categories:
• Coins and Tokens.
Crypto coins are ongoing investment and you can investment anytime.
Different types of crypto coins are:
• Peercoin
• Litecoin
• Dogecoin
• Auroracoin
• Namecoin
Tokens
You can invest in tokens through an Initial Coin Offering, or ICO, very much like a stock offering and that can be represented as:
• Value tokens
• Security tokens
• Utility tokens
What are the Main Attractions of Crypto currency?
At the moment, there are 2 primary attractions of crypto currencies which are:
1) You can own and use it secretly.
2) It is subject to price explosions that can make it look and feel like an investment.
And for those who bought crypto currency prior to the price explosion in 2017 or the most recent price increase in 2021, it’s probably been the best investment in a lot of portfolios.
So now let us understand how to invest in crypto currencies.
No matter what, allocate Only a Small Percentage of Your Portfolio to Crypto currencies if you are a 1st time investor.
So, How to Choose Your Crypto currency?
This is one of the real complications of crypto currencies. Maybe even more than a thousand.
So, choose investing in crypto according to your risk appetite.
So How to choose a Platform to Buy Crypto currencies?
One of the disadvantages of buying crypto currencies is that you can’t get them in all the usual financial places.
Banks don’t offer them and neither do investment brokerage firms.
For the most part, you’ll be limited to buying, holding, and selling crypto currencies on dedicated crypto currency exchanges only.
Here are some of the largest & most popular crypto exchanges in India.
Coin DCX, Zeb Pay, WazirX, Coin Switch Kuber, Unocoin etc.
So How you can Store Your Crypto currency?
Crypto currency is typically stored in a crypto currency wallet, which can be either a hot or cold wallet. There are several types of digital wallets like
Desktop wallets, Online wallets, Mobile wallets and Hardware wallets.
Securing Your Crypto currency is very important. That’s why it is recommended using a Virtual Payment Network to make sure your online transactions are secured and encrypted.
My question is, financial transaction in the world, is it so easy? We may be enthusiastic by reading positive news on crypto currency.
However, there are still many questions to be answered.
Understand the risk fully then only invest in crypto currency.
As per my knowledge the crypto currency is still not legalised in India hence money is not secure compare to other investments.
Also as of now we are not clear what are the tax implications? The government is expected to come with a bill to control the crypto transactions.
Let us wait for the positive outcome of the bill, till that try to invest with caution and analysing risks.
Thank you for watching the video. Stay tuned for more update on crypto currency as and when only on Money Ki Baat Alpa Ke Saath.