What is Cryptocurrency and how to start investing in it? Cryptocurrency price, market cap, bitcoin, and ethereal. Today we will know about all these in full detail. Today, whoever is running after crypto currency, it is a currency that is being discussed every day. Cryptocurrency can also be called digital money because it is available only online. And you cannot keep this currency with you, nor can we do it physically.
The way every country has a different currency. Like the Dollar in USA and Euro in Europe, these currency is implemented by the government of the country. You can use this type of currency and you can use this currency by converting it to the currency of another country.
But the government of any country does not have a hand in Cryptocurrencies. Because it is a Decentralized Currency, on which no government has any right. If you do not have complete knowledge about it or you want to invest in cryptocurrency. So read this post from beginning to end and now we will know what is cryptocurrency.
What is Cryptocurrency?
What is CryptoCurrency? That is the first question. What is crypto currency after all? Actually, crypto currency is a digital method of payment. Like you imagine that you buy something from a shop. In return, you give some money to the shopkeeper. Similarly, for digital services, for any product, for any service, you give digital currency. Which is called cryptocurrency.
Cryptocurrency is a method of online payment. which is given in exchange for goods and services. You can understand it just like that. Like you give 40 rupees to a shopkeeper for 1 kg of sugar. By the way, crypto currency is paid in exchange for online services and goods. Some companies have issued their own cryptocurrency. which is called a token.
These tokens are usually used by the company itself. Used to purchase the product. That is, the consumer buys the token of that company. To buy other products of the company through tokens only. This is what real money and cryptocurrency beginners do on. The money you and I use to make purchases. It is issued by the Central or Reserve Bank of the country. Whereas any person or company can issue a crypto currency.
Cryptocurrency is actually based on BlockChain technology. Because of which cryptocurrency is also very popular. Now you must be wondering what is the last blockchain. Actually, blockchain is based on decentralized technology. What is important to understand is the decentralized technology after all.
What is Decentralized Technology?
Actually, decentralized technology resources or location can be said in both hardware and software cases i.e. and if understood in easy language. Control of any object or resource is not with any one person, organization, or central team. Rather it is decentralized. That is, the technology blockchain is used in cryptocurrency.
It is not controlled by any one person or organization over cryptocurrency, but through decentralized technology, it is managed from different locations through many computers. Transactions are recorded. This technology became so strong that the cryptocurrency would be equally safe.
How much is Crypto Currency?
Now a very common question which is asked. Actually, there is only one currency in India which is issued by the Reserve Bank. Which is called Rs. Different countries have different currencies. whom you know. But there is another question. How many cryptocurrencies are there in the whole world? We know that is the number of countries in the whole world.
Around 200 is around. But how much is cryptocurrency? Actually, there is an estimate that more than 10,000 cryptocurrencies are currently prevalent in the whole world. According to the cryptocurrency tracking website Coinmarketcap.com, there are more than 10,000 cryptocurrencies available for trading in the world. And this number is continuously increasing.
Just as companies bring IPU before getting listed in the stock market. That is, the Asian Public Offer comes by taking the Initial Coin Offering i.e. ICO before registering the cryptocurrency. Now it is Saval. After all, how big is the market? According to Coinmarketcap.com, the market capitalization of cryptocurrencies hit an all-time high of $2.2 trillion in April 2022.
However, it declined in the month of 2021. And it came down to $ 1.7 trillion. Now talking about the most popular cryptocurrency bitcoin, its market size was $ 1.2 trillion in April 2021. Which decreased to $ 735 million in May. That is, one thing is clear. That’s as much as the entire market of cryptocurrency. About half of it is the most popular cryptocurrency. Bitcoin belongs to him.
Which is the Best Cryptocurrency?
Now there’s a question. You must be thinking. If you want to buy cryptocurrency. So which is the best cryptocurrency? Actually which is the best cryptocurrency. Depends on two things, first what kind of technology is used in it. That is, how safe is it? Secondly, it’s market capitalization i.e. how big is that cryptocurrency. Which cryptocurrency is best? There can be only two grounds to state this. The first is based on how strong the technology is. Second, what is its market size? At present, bitcoin is number one by market size. Ethereum number is 2. And Cardano is number 3.
Popularity of Cryptocurrency Increasing
Now a question is being raised as that why the popularity of cryptocurrency is increasing so much. Actually, there are many reasons behind all this. So far, governments do not have control over it. Some countries have brought some rules. On a large scale, the government has not been able to control it yet. In this, people make quick profits. However, it also has very quick losses.
The discussion of cryptocurrency in India has happened only in the last two to three years. Last year, when the Reserve Bank lifted the ban on cryptocurrency, its market increased significantly after it, although before this cryptocurrency had become popular in other countries.
There are many reasons for the increasing popularity of cryptocurrency. Supporters of cryptocurrency think. That cryptocurrency is the future. Especially the supporters of bitcoin want people to buy and hold more cryptocurrency as soon as possible. So that if its price increases in the future, then they can benefit from it, the second reason is this. of cryptocurrency supporters.
That in the coming days, cryptocurrency will eliminate that system of the Central Bank. Which controls the currency of the country. In fact, this is the main reason for the popularity of cryptocurrency. The government has no control over it.
Another reason for the popularity of cryptocurrency is the technology used in its Blockchain. through decentralized processing. It is more secure through other payment methods. Crypto prices fluctuate a lot. Suddenly climbs up. suddenly falls. Crypto traders see profits in this. He does business and makes money in it. This is also the main reason for its popularity. People who invest in cryptocurrency are people under 35 years of age.
Cryptocurrency Profit or loss?
There is one more question, after all, is cryptocurrency a profitable deal. Should I invest in this, in fact, the whole world is sitting in two parts on this matter. Supporters of cryptocurrency are unwell about the immediate benefits of this. Many central banks and big industrialists of the world have criticized it fiercely. Concerning partition, you can understand it like this.
That Warren Buffett criticizes it. So Elon Musk praises it. Well, you must not understand one thing. The value of cryptocurrency can go on like today bitcoin is 25 lakhs, then in the coming time it may be 40 or 50 lakhs but many investors think. Or just guess-based. Because it is not a real currency. Because cryptocurrency does not rate real currency cash flow.
That is, for your benefit, someone will have to buy the same currency for Rs.25 lakh, that is, if you have bought this bitcoin for Rs.25 lakh, then for your profit, someone else will have to do the same bitcoin for Rs.30 lakh, then you will have a profit of Rs.5 lakh. Will happen. Warren Buffet, a big investor and one of the richest list, compared bitcoin to a paper check. Experts believe. That investment would have happened. Where there is stability. There is stability. Whereas the cryptocurrency market is full of volatility.
Where can you buy Crypto Currency?
Now the question is if you want to buy cryptocurrency. So where can you buy where you can sign up. Many such platforms are present in India. Available all over the world where you can buy it. coinbase Binance is very big in the global market. The same platform is there in India like Wazirx, Coinswitch Kuber, and CoinDCX.
Last year, when the High Court lifted the ban on cryptocurrencies, Wazirx signed-up users increased by a record 4900 percent. The same Coniswitch Kuber grew by 1800 percent and CoinDCX by 695 percent.
How to Invest in Cryptocurrency
If you want to invest in all cryptocurrencies, then for that you have to select all the platforms. Because if you are not able to choose all the platforms then you have to pay more. The way you use Zerodha, Kite Zerodha, Angel Broking, Groww App, Upstox, etc. to invest in the stock market. In the same way, you can use Wazirx, Coinswitch Kuber, and CoinDCX, Unocoin, Zebpayetc. to invest in cryptocurrencies.
Through all these platforms, you can easily invest in cryptocurrency. Because I have also invested in currency through this and if you want to invest then you should also do it.
Cryptocurrency Price, Symbol, market cap
|LOAD MORE…..||CLICK HERE|
Some FAQs About Cryptocurrency
Now there is one more question What is the popular cryptocurrency among Indians. Indians buy the most bitcoin ethereum Cardano and Binance coin this cryptocurrency. Trade a lot in them. This cryptocurrency is more popular among Indians.
All cryptocurrencies are listed from zero to 0 in the crypto market, although it is not a company, it is a blockchain technology that works on full demand and supply, the price of any cryptocurrency coin increases and decreases only on demand and supply.
Dodge Coin, Shiba Inu, Tron, Wink, Ripple cryptocurrencies’ price is under 1 dollar.
The owner of bitcoin is Satoshi Nakamoto, who hails from Japan, he started it on 9 January 2009 as a digital currency bitcoin. He was born on 5 April 1975 in Japan, its symbol is and it is also called BTC.
Bitcoin is the top cryptocurrency in the whole world.
I sincerely hope that you all must have liked today’s post CryptoCurrency. In today’s post, we know what is cryptocurrency and how to invest in it. Apart from this, we have also got a lot of information about crypto. How did you all like today’s post, do tell in the comment section.