What is Crypto and How to invest in Crypto Currency

Investment in Crypto currency is booming these days in India. As per the estimate more than 20 million people are already investing in India that is more than the anywhere in the world.

What is Crypto currency ?

Crypto currency is a digital currency which is exchange through computer network.The Crypto currency is not regulated by any any central authority like bank or government for its maintenance.The Crypto currency is not a physical form of currency .It is stored in centralized data base in the form of digital ledger with ownership of the coin.The Crypto currency is built on blockchain technology.Crypto currency can be tradable using strong cryptography to secure the transaction records. Bitcoin was the first decentralized Crypto currency developed by Satosi Nakamoto in 2009 using cryptographic hash.

What is Blockchain

Blockchain consists of block which is a set of decentralized,distributed and timestamp transaction records. The blocks are linked together and secured using cryptography.In each block the data in the blockchain contains transaction data.

What are the popular Crypto currencies to Invest ?

Bitcoin is the oldest Crypto currency it is based the Blockchain technology as per the estimate there are approximately 5000 Crypto currencies.Some of the popular Crypto currencies are listed below.

• Bitcoin
• Cardano ADA
• Etherium ETH
• Ripple XRP
• Doge coin DOGE
• Binance Coin
• Litecoin
• Monero
• TRON
• USD Coin
• Etherium Classic
• Shibu Ince

How to invest in Cryptocurrency in India.

To invest in Cryptocurrency one can directly invest in the Cryptocurrency by visiting their website or app or through the investment platforms.The list of the Platform are given below.

List of Cryptocurrency investments exchange platform

• Switchcoin kuber
• Crypto control WazirX
• OctaFX
• eToro
• Webull
• Coinbase
• Binace
• Gemini
• Exness Trader
• Olymp Trade
• Zebpay
• Unocoin
• Paxfill
• Zebpay
• BitBnc
• OKEx
• Kraken
• Bitfines
• Bitstamp
• CoinDCX
• Giottus
• Vauld
• BerryUcoin
• Coinmama

How to select the Crypto exchange platforms in India for Cryptocurrency trading.

If anyone planning to invest in Cryptocurrency one has to select the investment platforms.The selection of platform is depends on

• During transaction of Crypto what will be the mode of exchange of currency .
• Cryptocurrency exchange or investment platforms is choosen based on the selection of coin or Crypto currencies.

What are the KYC documents required for opening account.

For KYC similar types of documents required for like D Mat accounts these are

• ID proof
• Name and address proof

What are the terms to be known for Crypto currency invester ?

Nodes

Nodes are computers connected to the blockchain network.The nodes has a role in the network for relaying the transaction, and validation in the blockchain. Bitcoin blockchain has four primary nodes.

• Mining Nodes
• Light Nodes
• Full Nodes
• Super Nodes

Timestamping

It is a proving or validation scheme of transaction added to the ledger of blockchain without need of third party.

Mining

It is the validation of tranaction.Successful minor gets Crypto currency as a reward.It is also the process of introducing a new block in a blockchain.Minor solve the mathematical algorithms to produce new coin.

Block Rewards

Block rewards are the incentive to the minor.

Transaction Fee

Transaction fee depends on the supply of network capacity vs demand.Currency holder based on network entities process transaction can select the transaction fee.

Some Other terms are

• Wallets
• Anonymity
• Atomic swamps
• ATM
• Initial coin offering
• Regulations
• Risk

CONCLUSION

Cryptocurrency market is expanding day by day.The market is not regulated by any government. It is advisable to take proper precautions and have complete knowledge before investing.