How to Invest in Crypto currency?
Hello friends and welcome to a new article. Nowadays, wherever you look, everyone is talking about cryptocurrency. Even those people who never believed in this virtual currency are also talking about a lot of cryptocurrencies today. Today we are going to tell you what is Cryptocurrency
Earlier people used to think that cryptocurrency is nothing from where we can earn some good money. But time keeps changing along with it all things also keep changing. In today’s time the value of bitcoin has increased a lot. People who had already bought bitcoins, in today’s date, those people have become a kind of financial person. Bitcoin is part of the cryptocurrency that came first in the world. Meaning you can say that bitcoin is the world’s first cryptocurrency and at present the most expensive cryptocurrency.
Whatever we have talked about now, you must be thinking that what is this cryptocurrency after all. Today we are going to tell you what is cryptocurrency. So without wasting time let’s see what is cryptocurrency.
Crypto currency is called virtual currency . No person in the world has seen this physically till date. As each country has its own currency. Like the rupee moves in India, the dollar moves in America, similarly cryptocurrencies are a kind of currency. But so that you can see and touch money but you cannot touch cryptocurrency like that. Still, it has a lot of value. More than a dollar!
What is Crypto currency?
Cryptocurrency is a type of digital currency that is secured by cryptography, you can buy and stock it inside virtual storage.
How does the price of crypto currency increase?
Crypto currency is not a common currency. It is a digital currency over which there is no control of any country or government of any country. And it has no fixed value. According to the time, it also sometimes increases and sometimes decreases.So let’s know how the price of cryptocurrency increases.
Many factors depend behind the increase or decrease in the price of crypto currency. Many factors depend behind the rise or fall of the price of any crypto currency such as bitcoin, ethereum. But the main reason for the growth or occurrence of crypto currency is Supply and Demand. Another reason that happens is the regulation of the same currency and the competition behind the same currency.
Let us understand this thing better:
If we give you a simple example, then you can understand it better. If you have been to a vegetable market. Where many people have brought tomatoes to sell tomatoes. In such a situation, tomatoes are sold at a very low price because many people have tomatoes and people can buy them from anyone.
If a trader increases the price of tomato, then people will not buy it, but if a trader sells it very cheaply, then people will buy more from him. In such a situation, people buy more than the trader who sells tomatoes cheaply, that is why he does not suffer any loss and sells all the tomatoes.
But imagine you have gone to a vegetable market where only one person is selling tomatoes. And you are in dire need of tomatoes. So whatever people go to buy tomatoes, they will buy from them, and in such a situation, that trader can sell tomatoes for more money than the regular price, where you will have to buy tomatoes at an expensive price and you may lose one way.
In the same way the value of crypto currency increases or decreases. When people buy more of any kind, then its price increases and when people start selling it more then its value decreases. If you have already bought any crypto currency and held it, then at the time when its price increases, you will send it at the same time, then you get a lot of profit there.
How to Invest in Crypto currency?
If you are also thinking that I should also invest in cryptocurrency, then you are at the right place where we are going to tell you how to invest in cryptocurrency.
If you must be thinking that investing in crypto currency will be right or wrong, then it will be very right with our Opinion. Where banks give returns of 3-4% in fixed deposits, if you invest in cryptocurrencies, then there you are going to get at least 5-6% to many more returns. And investing in crypto currency does not require a lot of money. There are many cryptocurrency exchange applications in India where you can start your Cryptocurrency Investment Journey with as little as ₹ 100.
Crypto currency exchange means that where you can buy any crypto currency by creating a digital wallet and adding your money on it and hold the same with complete security. And you can earn profit from it by selling it whenever you want.
There are many cryptocurrency exchange services available in India. Such as CoinDCX, Wazirx, Coin switch Kuber, Etc. Many such. You can download any of these applications from the Play Store on your mobile or you can create an account of your own by visiting their dedicated website.