Should I Invest In Cryptocurrency? Get All Your Answers Here

Should I invest in cryptocurrency? Maybe Yes but considering the risks, you may feel it’s not worth the time? Well, the unpredictability and lack of understanding about the different types of cryptocurrenciesoften confuses beginners like you.

But once you understand all the basics, best cryptocurrency to invest in, pros and cons you’d be able to reap the huge profits it offers.

We are at your help. Check out our guide to investing in cryptocurrency and you'll get all your answers.

What is Cryptocurrency?

Going with a non-technical definition, it is basically a form of token issued for online transactions in exchange for goods and services.

How Do They Work and Is Cryptocurrency Safe?

These are probably the few questions that come to everyone’s mind before investing in cryptocurrency. Check out this graphical representation to learn its working process.

3. Huge Growth Potential- Though the bitcoin price range changes every second, the profit potentials are worthy of appreciation. However, investors have to keep a check on the bitcoin price index and other crypto prediction websites for the latest updates.

4. Market Fluctuations- If you are unfamiliar with the trend of the stock market, understanding cryptocurrencies would be even more difficult for you. It is because crypto is subject to price change so there’s always a risk of losing the money. Crypto prediction websites will keep you up-to-date about those fluctuations.

5. Non-retrievable- Once a loss is forever a loss in the case of investing in cryptocurrency due to the absence of centralized authority. So keep your private access key safe and secure or else you’ll lose all the money in your crypto wallet.

Also Read: ‘As Promised’ Elon Musk’s Words For Tesla Launch In India

4 Things To Know Before Investing In Cryptocurrency

2. White Paper

Every crypto project comes with a white paper that gives a detailed insight into it. Make sure you go through it completely before trying your luck.

3. Crypto Community

Join Reddit for learning more about this digital currency space. You’ll understand which is best, bitcoin, dogecoin, or any other digital currency.

4. Check Legitimacy

Do not invest in a newborn project as there’s not much information available about it thus risk is more. Also, beware of fraudsters and hackers.

Know The Best Cryptocurrency To Invest In

Understanding the market valuation strategy is the key. As of now, the top cryptocurrencies for Indian investors in 2021 are:

1. Bitcoin (BTC)
2. COSMOS (ATOM)
3. BINANCE COIN (BNB)
4. Tron
5. Zcash (ZEC)

Check out websites like coinmarketcap,coinsforecast, and Crypto-ML for better crypto prediction so that you can invest according to the market trend.