Recently crypto exchange in India has gained a lot of popularity as it has shifted from the metros to the tier-2 and tier-3 cities as people are anxious to invest in crypto after considering the profits. Crypto exchanges are also reaching out to people in their languages to boost their investments. India, in general, has around 1.5 Crore to 2 Crore investors.
A bitcoin investment app is for the exchange of bitcoins and other cryptocurrencies. Nowadays, due to the increasing demand for cryptocurrencies in India (bitcoin being the king of them), there is a need to develop more of these apps. It is easy to invest in part of bitcoin, which starts with Rs. 100/- only.
Majorly there are ten different altcoins in which investors can invest. Altcoins are coins other than bitcoin, generally known as alternate coins. Altcoin investment is beneficial because they are less fluctuating and stable than bitcoin. Therefore, these investments are helpful for diversified portfolios or investors.
Nowadays, people invest money in crypto just for profits without studying how it functions. As a result, people see crypto as a profit-making trend and blindly invest in it and sometimes lose money. Instead, one should research how particular crypto functions, and if they find it reliable, only then invest in it.
In India, you can invest in cryptocurrency using a bitcoin investment platform. These apps can provide you with a different budget in which investors can invest from Rs. 100/- to as much as they like. Here are some interesting facts about cryptocurrency you should know:
- There is a limited amount of cryptocurrency you can buy. Similar to gold and other precious metals, there is a limited supply of cryptocurrency as well. Therefore, the value of these things increases as time passes. Considering the pool is limited, it will get over, so the value increases every day.
- Cryptocurrency is decentralized. There is no specific data centre that controls cryptocurrency. Therefore, it is challenging for a hacker to hack into the system and gain control over investors’ information or coins. However, it is a much secure technology and is not easy to hack into it.
- A person can mine cryptocurrencies. Essentially, cryptocurrency mining involves high-tech computers and is a way to verify and log transactions involving crypto. Miners of cryptocurrency gain rewards on successful mining. These rewards could be cryptocurrency fees that a miner can receive.
- The creator of Bitcoin is entirely unknown. No amount of search and tracking has been able to discover their identity. However, they are popularly known as Satoshi Nakamoto.
- Cryptocurrency is volatile; that is, it is not stable. The price of digital currency changes frequently and drastically. The increased volatility is because the trading takes place on various exchange platforms instead of one. Therefore, it contributes to the volatile nature of cryptocurrency.
One must do their research thoroughly before investing in cryptocurrency. First, decide which coins you would like to invest in and then decide which apps you prefer to invest in crypto.