how to invest in cryptocurrency in India

Cryptocurrency:

Cryptocurrency is the word that is speculating everywhere in the world now. many of us are eager to know what crypto stands for? how to invest in cryptocurrency in India. cryptocurrency is usually a collection of binary data that acts as a medium of exchange between several stakeholders. the ownership records of the exchanged coins are usually stored in a ledger that is computerised using cryptographic passcodes. cryptocurrency doesn’t exist in paper form or coin form. these are not issued by a centralised authority. most of the cryptocurrency exchanges are decentralised in nature. bitcoin is the first decentralised coin issued in 2009.

blockchain technology:

transactions are based on blockchain technology where the information is securely stored in cryptographic form. this blockchain technology facilitates secured base payments in online mode.it is an open ledger distribution system where the payments and records are secured permanently. the latest technology has been buzzing around this crypto technology.

however many industrialists believe that this technology may cause severe degradation in finance, law and economic aspects. Digital forms of money face analysis for various reasons, including their utilization for criminal operations, conversion scale instability, and weaknesses of the foundation hidden them. Be that as it may, they additionally have been applauded for their compactness, detachability, expansion opposition, and straightforwardness.

how to invest in cryptocurrency in India

India is still making baby steps in adapting to this crypto technology. the main boost to invest in cryptocurrency started when Elon musk company tesla accepted the payments in the form of cryptos. major coins are bitcoin, Ethereum, dogecoin is successful in grabbing the attention of big investors. Much to their belief, we all know how the crypto shares have gone sky-high during this may. even though there are talks in the government about its regulation. there is no such law or framework that has been formed for making liable transactions in India.

here in this article, we will give you information on how to invest in cryptocurrency in India. as there is no regulation or permissions given by the government regarding the exchange of crypto as legal tender. there are several crypto exchanging platforms that provide a platform to invest in cryptocurrency.Coin switch kuber, WazirX, CoinDCX are some of the best-recommended platforms you can rely on.

How to create an account on a cryptocurrency trading platform:

creating an account on any of the above platforms is the first step in crypto trading. here is the step by step procedure to create an account

• go to play store – search for any of the apps mentioned above ex: coin switch-click on install
• open the app – enter the number which you want to have your account in – now enter the OTP received on your number
• set up 4 digit pin and enter the pin again to verify

you need to finish your KYC by submitting your details like name, email, date of birth and mobile number linked to your bank account

• now enter your PAN card details, and upload them to the upload document tab
• incase if necessary upload your Aadhar softcopy in the upload tab
• now wait for the KYC to be completed
• once it is completed you will get a confirmation message, if any error occurs. reupload the correct documents

how to deposit cash into your account:

• click into your account
• go to the deposit tab, now enter the amount you want to deposit
• you can deposit amount through UPI, CREDIT CARD, DEBIT CARD or DIRECT BANK TRANSFER

note: always take a screenshot of your deposited amount, your transaction message in email or messages

how to buy cryptocurrency or digital coin:

you need to have a minimum amount specified by the trading platform in your wallet. now deposit the amount of your choice to trade for a specific currency. there are 100+ currencies available to trade on these platforms. each one of them holds a specific value bounded by encryption.

depending upon your choice and market value start trading on any of these coins. enter the amount required to buy a digital coin. you can buy a fraction of a coin by paying a minimum amount which usually starts from 100INR. The number of transactions you made will be reflecting on the app. by following the above steps you can easily get the answer on how to invest in cryptocurrency in India.

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