Hello traders this is your daily mate team THEMIDOM. Today in this blog you are going to learn the basics of cryptocurrency and also you are going to know about how to invest in cryptocurrency.
Basics Of Cryptocurrency
Well, cryptocurrency is just like money or a form of payment, but it is in digital form, or you can say digital asset, designed to work as a medium of exchange. It is the most decentralized form of currency, which means the government has no control over it. Anyone from this earth 😇😎 can invest in cryptocurrency. The cryptocurrency concept was first launched in the year 2009 as an open-source software "bitcoin" by a presumably pseudonymous developer Satoshi Nakamoto (the name is still a mystery). After that many cryptocurrencies launched like Ethereum Tron Dogecoin etc. And remember transactions related to cryptocurrencies are fully transparent one with the crypto-trading platform can view the transactions in real-time, Now one question arises what about privacy if transactions can be viewed by anyone? so don't worry about it, one can view the only amounts of transaction or you can see directly from the below picture.
How cryptocurrencies works
Now you may curious about the fact of how cryptocurrency works? so, my friend, it works on the concept called Blockchain Technology. In simple words, Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in business networks. Nowadays there are more than 10,000 cryptocurrencies available, and all of them work on the same technology called Blockchain. And remember one thing that blockchain delivers immediate, shared and completely transparent information stored on the immutable ledger that can be accessed only by authorized network members. And also blockchain can track orders, payments, accounts, and much more. Now you can understand why there is so much transparency in cryptocurrency trading.
how to invest in cryptocurrency
Now you are going to know how and where to invest and the best crypto trading platform.
So first you need a broker for investing and then just deposit the amount and then do some research and start investing. Below I am recommending you the best crypto trading platform.
1) WazirX: This platform is an all-time favorite of mine. Its user interface is cool and you can start only from 50 rupees, which can be affordable by anyone. you can trade any cryptocurrency in Indian Rupees. One disadvantage is that sometimes payment gateways do not work, So be aware of this fact, and wazirx team is working hard to fix this problem so you don't need to worry about it. After fulfilling terms and conditions and registering for KYC you are ready to go.
2) Binance app India: Binance is the largest cryptocurrency platform in the world. Its user interface is also cool you have a wide choice here. you can start investing after fulfilling their terms and conditions. And I need to say it is also the most secured platform. So, you are safe and ready to go, my friend. And remember binance also has Binance Academy App, where you can learn about many concepts and you can learn about investing, so don't forget to get this app. So as a beginner I recommend you to use this.
3) Coinbase App: So, it is also another cryptocurrency platform where you can invest in a wide range of cryptocurrencies. And also I am damn sure you are going to like that. It has a huge presence internationally. It is a U.S. based company, made perfectly for beginner and also provide secure crypto transactions. So what are you waiting for just get started with it.
The above mention apps are used by me. So, as per my experience, I am recommending you, BTW you can try your own.
best cryptocurrency to invest in 2021
well, cryptocurrency is most volatile in nature one cannot easily predict the upcoming prices, so you must aware socially you must need to study magazines newspapers, and need to be an active user of many social media platforms like Twitter and follow the latest news.
Below I am recommending some cryptocurrency but it is for educational purpose (so any loss caused to you cannot be compensated by us😅😆😎)
1) Bitcoin
2) Ethereum
3) Dogecoin
4) Ripple
5) Shiba Inu
6) Tron
7) Cardano
8) Aave
9) Cardano
10) Chainlink
Before investing above cryptos I recommend you to do some research and go for it. So, that's it for today Thank you.
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By- team Themidom😎