Unless you’ve been living under a rock, you’ve no doubt heard terms like cryptocurrency, Bitcoin and NFTs. Now, that’s a great start but many of us have stayed at just this stage of awareness. If you’re already at this stage, you would also know that trading in cryptocurrencies isn’t banned in India so you can trade as per your appetite.
Given how widely cryptocurrency is being adopted by financial institutions such as Paypal, Visa and Mastercard as well as countries such as El Salvador, now is the time to begin your own journey in the world of crypto and ride the wave of opportunity.
Why You Need Crypto –
Let’s be real and accept that FOMO is real. Let’s also acknowledge that Bitcoin has been one of the best investments anyone could have made in the past decade. So, if you had bought Bitcoin worth INR 10,000 in 2010, you would be sitting on a pile of INR 66 crore just seven years later in 2017. That’s a rise of 66,00,000% in just seven years and at a time when 1 Bitcoin was priced at USD 2779 in July 2017.
Since 2017, Bitcoin skyrocketed even further with the price of a single Bitcoin currently trading at over USD 46,000 (INR 34.46 lakh)! If you can show any other asset class that has seen such a rate of appreciation, we’d eat our words right away.
In fact, analysts say that the price per Bitcoin is poised to reach USD 318417 (INR 2.36 crore) by December 2025! That’s a great sign for first-timers to jump in and still be a part of Bitcoin’s growth story. Let’s get started.
Cryptocurrency: How To Begin
Now that you’ve decided to start investing in cryptocurrency, here is what you should know what’s drawing you to this new asset class. Basically, once you realize that cryptos are the future, then you will automatically be drawn to them.
Once you’ve made up your mind, you need to choose which crypto you want to invest in and how much money you want to put in. Look at popular options like Bitcoin and Ethereum but also keep an eye out for lesser-known coins that have the potential to jump spectacularly compared to its popular peers.
To invest money, you will first need to sign up with a crypto exchange service in India, complete the KYC process and then transfer funds from your bank to the exchange to buy your first crypto. We recommend bitcoin exchange app ZebPay for more reasons that just the fact that it’s one of the oldest and most well-regarded crypto exchanges in the country.
ZebPay, which impressed us with its intuitive and clutter-free app, also has some unique features that makes it easy to recommend. Take ZebPay Earn for example. This feature allows you to earn crypto simply for holding on to crypto – almost like getting an interest rate on your crypto savings. With the rate of return varying between 1% to 7.5% depending on which coins you hold, sitting and earning crpyto has never been easier.
Things To Know As A First Time Crypto Investor
As an additional resource, keep the following things in mind while you’re investing for the first time.
1 – Allocate a tiny amount of your portfolio to cryptocurrency in the beginning. Don’t put in any more than you can afford to lose.
2 – You don’t need thousands of rupees to start investing in cryptocurrency. Exchanges usually offer the option to start investing with as little as INR 100. This way, you can buy a fraction of any crypto such as Bitcoin instead of an entire coin.
3 – Keep an eye out for regulations and news from the government. While cryptos aren’t banned in India, there can be a lot of conflicting information regarding its regulation. Follow the right groups, forums and news sources to stay up to date with the latest information.
4– Remember the golden adage, if something is too good to be true, it probably is. Certain crypto exchanges offer mind-numbing returns but if cryptocurrencies crash, you lose everything in one go too. Stick to known crypto exchanges such as ZebPay.
We wish you all the very best in your new journey into the world of cryptocurrency. Stay tuned and visit us soon as we share all the information you need to become a successful cryptocurrency investor.
Cryptocurrencies are unregulated digital assets and are not legal tender. Past performance is no guarantee of future results. Investing/trading in cryptocurrencies is subject to market risks and legal risks.
This article has been written by Studio 18 team on behalf of Zebpay