How to Invest in Crypto in India? Step-by-Step Prosice. many are still advocating the classification of cryptocurrency as an asset. However, India ranks at the top when it comes to cryptocurrency investment across the globe. The primary question for any beginner in the field of cryptocurrency is, how and where to start investing. How to Invest in Crypto in India? Don’t worry, we have got you covered! Let us explore how to invest in cryptocurrency in India step by step.
Cryptocurrency has become a lucrative financial asset for traders as well as Investors. Many investors especially in India have shown a tremendous interest in cryptocurrency because of its steady returns despite the volatility factor. Cryptocurrency is a digital asset with Bitcoin being the pioneer.
Elon Musk’s electric vehicle company Tesla Inc invested in the world’s largest cryptocurrency- bitcoin, leading crypto coins such as ethereum, dogecoin, and bitcoin have caught the attention.
The centralized cryptocurrency exchanges require their users to verify their personal information before using the tools provided by them. If the user is an organization, then it must provide some corporate information for the process of verification. A decentralized crypto exchange (DEX) is very similar to centralized crypto exchange but without third-party intervention.
The verified users on these exchanges get to enjoy a higher withdrawal quota along with other customer support in case of any technical error. The centralized cryptocurrency exchanges are quite popular among crypto enthusiasts since they offer flat pairs at stable prices.
A decentralized crypto exchange (DEX) is very similar to centralized crypto exchange but without third-party intervention. These exchanges do not rely on any third party, The funds in the exchange are stored on the blockchain. Peer-to-peer trading (P2P) is also allowed by these exchanges that require the use of an escrow system or proxy tokens. This is different from the IOU system used by centralized cryptocurrency exchanges.
In India, most of the crypto exchanges are centralized crypto exchanges. These are easy to use and follow all the compliance for a secured and easy crypto journey of their users. Some of the most famous centralized cryptocurrency exchanges are Binance, Coinbase, etc. CoinDCX, India’s simplest and safest cryptocurrency exchange is also a centralized exchange.
There are more than 4000 cryptocurrencies in the market. How will one choose a risk-free cryptocurrency? As an investor one must always be up to date with the current happenings around the crypto industry. Proper research of cryptocurrency is extremely important before investment.