You must have heard about cryptocurrency through the Internet. But do you know what is cryptocurrency and how it works, when cryptocurrency was invented, how to invest in cryptocurrency, how to earn money from cryptocurrency, what are the advantages and disadvantages of cryptocurrency, and what will be the future of cryptocurrency in India?
If similar questions keep coming into your mind about cryptocurrencies, then through this article today we will try to answer your questions.
Cryptocurrency is a digital currency that we cannot touch, keep with us, or hide in banks or safes. We can keep cryptocurrencies in our digital wallet and do online transactions as well as trading in cryptocurrencies.
Many experts say that cryptocurrencies will be used permanently in the future, and many say that cryptocurrencies have no future. For this reason, cryptocurrencies are considered illegal in many countries of the world, while cryptocurrencies have been legalized in many countries. India is also on the list of countries where cryptocurrency is legal.
To get detailed information about cryptocurrencies, read this article till the end. So let’s start today’s article without any delay – What is Crypto Currency?
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Currency is such a money system that is recognized by a country and has value. Currency is used as money by the people of that country, people can buy things using currency.
Currency is called currency. Nowadays almost all countries have their own currency India’s currency is Rupee and America’s dollar similarly other countries also have different currencies.
Currency is printed on paper or metal pieces (coins). Currency is in physical form, meaning we can touch it, and keep it with us. That’s why the currency is also called physical currency. But cryptocurrency is very different from this.
A cryptocurrency is a digital currency that is built on a computer algorithm. It is a digital asset through which you can buy things online. Cryptocurrency is an independent currency, due to its decentralized, no one owns it nor does the government of any country in the world have authority over cryptocurrency. Cryptocurrencies work as a peer-to-peer electronic system by which we buy a service or a good through the Internet. No bank or government permission is required to use cryptocurrencies.
Being in digital form, we cannot touch the cryptocurrency nor can we keep it with us in physical form. Through cryptocurrencies, people can shop online as well as trade in crypto.
Technically speaking, cryptocurrency is a virtual currency based on Blockchain Technology which is secured by Cryptography. Cryptocurrency is also known by the names of Digital Currency, Virtual Currency, or Electronic Currency.
The cryptocurrency was started in 2009 named bitcoin. Bitcoin was created by Japanese engineer Satoshi Nakamoto. Initially, it was not so popular, but gradually the rates of cryptocurrencies started increasing very much, and on seeing the cryptocurrency became very expensive, after which people’s attention went to cryptocurrencies and people started investing in it.
In 2009 the value of cryptocurrency was 1 rupee but today 45 lakhs is the value of 1 bitcoin. Initially, cryptocurrency was illegal, but gradually seeing the popularity of cryptocurrency, some countries made it legal. There are still many countries where cryptocurrency is illegal. Talking about India, cryptocurrency is completely legal here.
Although there are hundreds of cryptocurrencies out there, some of the major cryptocurrencies that are performing well are listed below –
There are many benefits of cryptocurrencies, some of which we have mentioned in the article –
Due to the many advantages of cryptocurrency, it also has some disadvantages which are mentioned below –
Following are some of the major ways to earn money from cryptocurrency –
Trading is the best way to earn money from cryptocurrencies. You can earn good money by trading in cryptocurrencies. You can buy and hold cryptocurrencies until the price of cryptocurrencies increases. And when the price of cryptocurrencies increases, then you can earn a good profit by selling crypto.
The price of cryptocurrencies fluctuates unexpectedly, so the crypto you are buying today for 10 rupees can be worth 10 thousand or 1 lakh or even more after a year or two.
You can also earn good money through cryptocurrency stacking. But many people do not know about Staking. The way we open FD in the bank, is in which we deposit money once for a certain time, and when we withdraw money from FD, we get that money with interest.
Similarly, there is also cryptocurrency Staking, we can keep the crypto bought by us by stacking it in some place and we will keep getting interested as long as we keep the crypto stacked. In this way you can earn money from Crypto Staking.
Although not every crypto has the feature of Staking, so whenever you want to do Crypto Staking, check once whether the cryptocurrency you buy has the feature of Staking or not.
Cryptocurrency trading takes place on the Best Crypto Exchange or Peer to Peer network. To invest in cryptocurrencies, you have to choose the right platform and create your account on that platform through email ID and complete the KYC of your account.
After that, you can invest in cryptocurrencies. You can select the best currency by doing research. The returns in cryptocurrencies are very good. But there is also an unexpected fall in its prices, due to which there is also a risk of losing money, so it is important to research well before investing in cryptocurrencies.
Best Crypto App Platforms are available to invest in cryptocurrencies in India. But we have suggested some reliable platforms below by which you can invest in hundreds of cryptocurrencies –
Cryptocurrency has been legalized in India. Many platforms are also present in India to invest in cryptocurrencies. And many people are also investing in cryptocurrencies.
Talking about the future of cryptocurrencies in India, looking at the present time, it seems that a large number of people will invest in cryptocurrencies going forward. Many experts believe that cryptocurrencies are the currency of the future. In the future people will use cryptocurrencies in place of physical currency.
Uncertain fluctuations are also seen in the prices of cryptocurrencies, due to which nothing can be said about whether the value of cryptocurrencies will increase or decrease in the future.
Yes, cryptocurrency is completely legal in India. However, cryptocurrencies are considered illegal in many countries of the world. But right now it is completely legal in India, you can invest in cryptocurrencies.
The cryptocurrency was created in 2009 by a Japanese engineer named Satoshi Nakamoto.
To trade in cryptocurrencies, first, you have to choose a platform and you have to do KYC by creating your account through Gmail ID. After this, you can trade in cryptocurrencies.
Bitcoin comes first in the list of best cryptocurrencies, whose prices have increased tremendously in the last few years.
In this article, we have given you complete information about Cryptocurrency Kya Hai so that you can learn about the basics of Cryptocurrency, if you are also thinking of investing in Cryptocurrency then this can be a good option for you. . Because many big industrialists of the world are also considering cryptocurrencies as the currency of the future.
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