How to invest in cryptocurrency in India?
As we all know India is very fastest growing country but nowadays in India peoples are very concern about the investment. Peoples of India still preferring the traditional way of investment where can will get security of their money.
The secure investment may be in the form of Fixed deposits (FD), Post office deposits, LIC. In such investments approx. returns are 4% to 8 % maximum.
But at the same time some risk taker investors also are there and they are investing their money in the share market, mutual funds, or in the form of gold. And the approx. returns of such investments are varies from 10% to 20% which is more than bank FD's.
Now here one more risky investor group is working to get the good profit from the market and that returns may be from 20% to 1000%.
Yes, you read it correct and the investment is in the form of Cryptocurrency.
Before starting on How to invest in cryptocurrency, we will understand what is cryptocurrency?
What is cryptocurrency?
Cryptocurrency is one type of Virtual currency or we can say digital currency. Cryptocurrency doesn't have physical appearance because of that it is called as Digital Currency. Cryptocurrency is Blockchain technology based currency that's why it is more secure than any traditional currency.
The Founder of cryptocurrency is "Mr. Satosi Nakamoto" and hi introduced first cryptocurrency that is Bitcoin.
How to invest in cryptocurrency in India?
Still in India only few of the people are believing on such returns from the market. Most of the people still concern about investment in cryptocurrency or investment in Bitcoin.
As we can see the growth of the Bitcoin is remarkable. Because of this remarkable growth most of the risk taker youth are attracting towards the Bitcoin investment. Some are beginner and some are experience investors are investing. But majorly beginner investor are showing more interest than traditional experience investors.
Now the big challenge for new investors or beginner investor is how to invest in cryptocurrency in India 2021.
Here in this article i will try to give answer of your query:
In India there are multiple cryptocurrency exchanges are available. Such as Wazix exchange, Zebpay Exchange, Unocoin exchange, DCX exchange these are some of the famous exchanges in India.
You can create your ID in these exchanges and get verified it by submitting all your KYC documents. Once your KYC done then you can trade or invest in cryptocurrency. These exchanges are accepting money in Dollar and INR.
Is Bitcoin is Legal in India?
At this moment there is no regulation on cryptocurrency in India and no banned of Bitcoin in India, It is not good to say the Bitcoin is legal or illegal in India.
Indian government has assign committee on Bitcoin and the committee is working on how to regularize bitcoin in India for routine usage but at this moment no legal, no illegal or no banned of Bitcoin.
Conclusion:
To invest in cryptocurrency or invest in bitcoin is not difficult but investment in bitcoin is very risky. If you are ready to bare 100 % loss also then you can go for it otherwise it is not advisable to invest without studying the cryptocurrency market.
If you create ID you can take reference of below sites:
Indian Exchanges:
International Exchange:
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