What is Cryptocurrency?

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The term Cryptocurrency is a combination of two words i.e. Cryptography and Currency. It simply means cryptocurrency makes extensive use of cryptographic techniques to secure transactions. It’s based on the simple concept of Blockchain.

As the name suggests, Crypto is safe and more secure than any other currency that a country has. An additional positive about Crypto is that they are totally digital and are safe from any kind of black money.

Conventional investors say Cryptocurrencies in India are a very risky investment because the rate of fluctuation in the currency is very high (Fluctuation is the change in the value of something) compared to stocks.

But whatever most people say, Cryptocurrencies like Bitcoin and Ethereum are largely invested in India, and Investors have already seen massive profits in their portfolios.

Cryptocurrency & Blockchain Technology

Cryptocurrency is based on Blockchain Technology. Blockchain Technology is a kind of technology that safeguards the data from any kind of third-party authentication or interference. This technology was first created by the same group of people who came up with the idea of Bitcoin.

Through Blockchain Technology and Data Mining, The first Crypto was invented and launched. Blockchain technology for sure is going to be the future of technology as security will be the first priority of users. 

Different Types of Cryptocurrencies

There are different categories in Cryptos, but we can divide them into Four main Categories:

Assets

There are several coins that come under the asset category of Crypto because very few coins can become a stable return on investment. Coins like Bitcoin and Ethereum come under the asset category of Cryptocurrency.

Object

Ever heard of virtual land? That itself is unbelievable, but Blockchain and Cryptocurrency have provided us with a facility of OWNING VIRTUAL OBJECTS. The services of Object-oriented Cryptos involve NFTs, Virtual land, and Data storage facilities.

Currency

Currency was the actual and main purpose of Cryptocurrency in the first place. In 2009, the first Cryptocurrency, BITCOIN, was introduced with a 0$ rate. Now, Bitcoin is the largest in value by market Capitalization. Over the years the currency market has developed into a trillion-dollar market. Some famous Cryptos include Bitcoin, Solana, Ethereum, etc.

Joke/Meme Coins

Well, Joke coins do not serve any function in the Blockchain Market. They are created only for FUN and generally are not trustworthy. For instance, Dogecoin was created on the basis of the doge memes that went viral in recent times. Most experts do not suggest investing in Meme Cryptos as they do not add any value to anyone in the foreseeable future.

Most Profitable Cryptocurrencies to Invest

Bitcoin       34,78,000 INR
Solana          7,000 INR
Avalanche    7,500 INR
Ethereum     2,48,000 INR
XRP              65 INR
Cardano       85 INR

You don’t have to worry about the high costs of several Cryptos because you can purchase any Crypto with as low as 100 INR only via the above-mentioned Crypto Exchange Apps.

Whatever the government decides about the Crypto in the future, it’s always safe to invest a small amount of your income into Cryptos as they have a high chance of profit in your investment journey.

How to Invest in Cryptos?

It’s always better to have some first-hand experience when it comes to learning new things. The more we learn about Crypto, the more surprised we will be. So, let’s now know some apps and sites in India where you can actually invest in these Cryptos. These apps provide a variety of Crypto coins so that you can invest and buy them. Crypto Exchange Apps also provide the service of storing your cryptocurrency with a vallet they provide which is 100% safe and trusted. 

Best Apps To Invest In Crypto

  • Binance
  • Wazirx
  • Zebpay
  • Coindcx

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