At first, crypto was something that felt like I wouldn’t dabble in. However, after my curiosity got the better of me, and with a ton of research and advice, I’ve realised that it’s genuinely an asset that will, and can benefit just about anyone.
First things first, what is crypto? Crypto is a digital asset. It is a form of payment that can be exchanged online for goods and services where you can transfer your traditional, non-crypto currency money —digitally!
I’m pretty sure I don’t need to say this, but the first-ever crypto was Bitcoin developed by an anonymous entity —Satoshi Nakamoto. Since then, there have been several cryptos that have come into existence. A few popular ones as of November 2021 are —Ethereum (ETH), Binance Coin (BNB), and Tether (USDT) amongst hundreds of others.
There are several methods for starting your investment journey in crypto. Depending on whether you want help managing your investment, or if you want to learn the nitty-gritty and “be your own bank,” there are always opportunities for those starting out.
Now when it comes to investing in crypto, I can’t stress enough how important it is to know what you’re getting into! It’s no secret that cryptos are volatile by nature. So please, read, research, and make sure that you’re in a financially secure position to invest.
For the people who are just starting out, other than the question of how and where to invest, what to invest in also plays a major role. The longest-standing and most secure crypto is Bitcoin. Bitcoin was what started it all, and has the highest market cap of any other coin, at over $1 trillion as of mid-October 2021. Currently, it is trading around $57,000 (INR 42,18,969) a coin, and like all cryptos, the price witnesses massive swings in both directions from time to time, despite being one of the most reliable and sought after cryptos.
Another important thing to remember when investing in crypto is to never give out your private key or recovery phrase that’s created when you open a wallet. Crypto wallets are used to store your digital assets, and some allow you to also buy, sell and transfer crypto. So be smart about it, and don’t trust anyone!
Coming to the question of how and where to begin, perhaps the easiest way to buy crypto is through a safe and reliable platform where you can get the best returns for your investments. For that, I’d suggest you check out CoinSwitch Kuber for a secure and fast crypto trading experience, where you can begin buying and selling at Rs. 100! The platform has recently crossed 10 million users with successful investment stories. You can also check out their KuberVerse section where you can get all the information you need related to crypto!
