How to Invest In Cryptocurrency In India?

Cryptocurrency has been in the market for a long time now but until late last year many people weren’t aware of it or they were but they did not invest in it.

The biggest Electric Car company Tesla invested a lump sum in cryptocurrency earlier this year, the CEO of Tesla, Elon Musk as always encouraged investment in bitcoin and the company made a big move by announcing they would accept bitcoin for purchasing.

The price of cryptocurrency reached skyrocket after this more and more people started to learn about cryptocurrency, blockchain, how they work and started to invest in this digital money.

Many billionaires including Elon Musk predicted that “Paper money is going way”

The tech giant Microsoft’s founder Bill Gates also said “The future money is digital currency”

With the evolving technology, nothing is impossible people are buying plots on mars, Automatic cars and aircraft are not just a virtual reality now.

People who previously used to invest in gold, equity, and debentures are all shifting to cryptocurrency.

Most people who are into investing have at least once given a thought to cryptocurrency investment. But back in the day though there were many myths about cryptocurrency such as cryptocurrency was illegal or banned, etc, etc which stopped investors from investing.

But all these have changed over the year and you can see the result of it when you look at the price of the cryptocurrency.

So, if you are still unclear with the idea of investing in digital currencies, we have got your back in this article we will help you understand what cryptocurrency is how it works and how to invest in Cryptocurrency in India

What Is Cryptocurrency?

So, let’s get down to the first question that most amateur investors or let’s say normal people have. So, what actually is cryptocurrency?

A cryptocurrency is a form of digital or virtual currency that can be used to buy goods and services and transfer money from one place to another. Cryptocurrency is cryptography or blockchain, blockchain usually uses two cryptography algorithms making it highly secure to hack or to intervene in the transaction.

Cryptography transitions are very secure, unlike normal online transactions, once you initiate a transaction you won’t be able to make any changes or even block the transaction and nobody will be able to read the details of the transactions.

Cryptocurrencies are distinguished by the fact that they are not issued by any central authority, making them potentially impervious to government intervention or manipulation.

There are various types of cryptocurrencies one can invest in:

CRYPTOCURRENCY	PRICE
Bitcoin	$ 36,123
Ethereum	$ 2,674
Tether	$ 1.00
Binance Coin	$ 364.74
Cardano	$1.66
Dogecoin	$ 0.32
XRP	$ 0.97
USD Coin	$ 1.00
Litecoin	$ 174.04

Investing And Procedure To Use Cryptocurrency In India

Now, you know what cryptocurrency is but how to invest in cryptocurrency.

Firstly, choose the right cryptocurrency based on your portfolio and market analysis, do not make any rational decisions whilst invest wisely by devoting a certain percentage of your portfolio to it.
Remember cryptocurrency is not anything like the stock market where you will earn profits and dividends. In cryptocurrency, your investment depends solely on the increasing factor the more the value of the currency increases the better for your investment.
Also, keep in mind that cryptocurrencies are currently not accepted by every business of merchant only certain business has adopted the virtual currency but if you invest now the chances of the price increasing will do you a favor when more people open doors for cryptocurrency.
Choose the right platform to buy your cryptocurrency, has said earlier there is no central authority or banks will issue the virtual currency you have to buy, sell and hold the currency from a reliable crypto exchange.
Make use of a trading algorithm to buy and sell the cryptocurrency, the trading algorithm forecasts the right time for you to buy (when the price is low) and the right time for you to sell (when the price is high). This will save you from losing your investment, you can be an authentic investor with the help of RocketAlgo.
Once you buy the cryptocurrency the next step is to choose a wallet, there are various wallets in the market that you can choose from. Wallets do not store your coins but instead give hold the private and public keys that will help you access your blockchain to make secure transactions through your keys A.K.A your crypto address.
Keep your cryptocurrencies safe, the transactions are highly coded and secured but when your keys are in the wallet they might be vulnerable hence make sure you use VPN (Virtual Private Network) this adds an additional layer of security this way your coins and transactions will be both be in a safekeeping anonymously and you are all set.
But remember to stay on the safer side considering the current situation. If you are investing in low-price crypto then it wouldn’t be a problem but if you are investing in cryptocurrencies like bitcoin, Ethereum invests wisely don’t pour all your money and burn your hands right in the first attempt.

Crypto Investing At Your Fingertips With Rocket Algo

Cryptocurrency investment can be tricky the digital currencies were sky-high last year one of the reasons for this was Elon Musk promoting the coins and later his EV company Tesla invested huge money in Bitcoin this year and started to accept bitcoin as payment. The nature of digital currencies is that their price will increase only when more and more people started accepting them.

As a result of this, the price of the cryptocurrency increased and more and more people kept on investing but suddenly the currency crashed, and a major reason for that was once again Tesla, the company earlier dismissed the use of bitcoin, Elon Musk said justified their actions saying they were concerned about the impact on nature and further added they would definitely bring back cryptocurrency if it was less toxic and environmentally friendly.

The cryptocurrencies have seen a wild ride since then, bitcoin although is on the safer side, dogecoin has consistently fallen by 40%.

So you need to be super careful while investing, the market predictions are that the digital currencies will gradually grow by 30% by the year-end.

This might be your cue to invest, the market has currently seen a huge crash, and if you make use of options trading and understand it you can invest now and sell your coins when the price is high.

The trading algorithm plays a major role in investing whether it is in the stock market or in the cryptocurrency they predict the right time for you to invest and the right time for you to exit. Which will help you be a key player in the investment and increase your portfolio.

Rocket Algo is one of the major trading algorithms in the market at the moment. Using Rocket Algo can help you determine the market behavior you don’t need to be from financial background to understand investing, investing is easy if you have the right tools with you and you know the basics of the market.

With little knowledge, you can grow your financial corpse with the help of Rocket Algo, Rocket Algo will predict the market behavior for you and unveil the right time for you to invest.

You can hunt down the right time to make your move into cryptocurrencies with the help of Rocket Algo, start your Crypto Investing with us safely, Crypto Investing At Your Fingertips With Rocket Algo!