New Delhi: If you are not oblivious to the outside world, you must have heard terms like Cryptocurrency, Bitcoin, and NFT. This is a good start and many of us are aware of this. If you are already aware of this, then you would also know that trading in cryptocurrencies is not banned in India. So you can trade as per your choice.
Cryptocurrencies are being widely adopted in financial institutions such as Paypal, Visa, and Mastercard, as well as in countries such as El Salvador. Considering this now is the time to set your foot in the crypto world and capitalize on this opportunity.
If you would have bought bitcoin in 2010, you would have become a millionaire
Let’s embrace this reality and accept the reality of FOMO. Also, acknowledge that Bitcoin has been one of the best investments anyone can make in the last decade. If you had bought Bitcoin worth Rs 10,000 in 2010, you would have become the owner of Rs 66 crore in 2017 just seven years later. In this way, there was an increase of 66,00,000 percent in just seven years. This is the figure for July 2017 when the price of 1 bitcoin was 2779 US dollars.
The price of bitcoin is currently $46,000
The price of bitcoin has increased even more since 2017. Currently, the price of one bitcoin is over $46,000 (INR 34.46 Lakh). If you can point to an asset class that has grown that much, we’ll retract our words immediately.
Know what is the opinion of experts?
Analysts say that the price of one bitcoin is expected to reach USD 3,18,417 (INR 2.36 Crore) by December 2025! This is a good sign for those looking to invest for the first time. Such people can still be a part of the growth story of Bitcoin. let’s get on.
How to start investing in cryptocurrency?
Now that you have decided to invest in cryptocurrencies, you must know what this new asset class is best for you. In particular, when you start to believe that crypto is the best for the future, you will automatically be ready for it.
Once you have made up your mind, you have to choose which cryptocurrency you want to invest in and how much money you want to invest. Not only do you look at popular options such as Bitcoin and Ethereum, but also keep an eye out for coins that have the potential to make great leaps in comparison to more popular coins.
To invest money, first, you need to sign up with any crypto exchange service in India and complete the KYC process. Next, to buy your first crypto you need to transfer funds from your bank to that exchange. For this, we recommend using the bitcoin exchange app ZebPay, as it is one of the oldest and most well-known crypto exchanges in the country.
Things to know for first-time investors in crypto
As an added resource, keep the following in mind when investing for the first time.
- To start with, invest a small amount of your portfolio in cryptocurrencies. Do not invest more than the amount you can afford to lose.
- You don’t need thousands of rupees to start investing in cryptocurrencies. Exchanges usually offer an option to start investing as low as INR 100. This way, you can buy a fraction of any crypto, such as bitcoin, instead of the whole coin.
- Keep an eye on the changing rules and news of the government. Although crypto is not banned in India, there can be a lot of conflicting views regarding its regulation. Follow the right groups, forums and news sources to stay up-to-date with the latest information.
- Remember this, it’s so good it’s hard to believe. While some crypto exchanges give mind-numbing returns, if the cryptocurrency crashes, you lose everything at once. Stay connected with well-known crypto exchanges like ZebPay.
We wish you all the best for your entry into the world of cryptocurrency. Soon, we will share all the information you need to know about becoming a successful cryptocurrency investor. So, stay tuned with us and keep your eyes on it.
