In the last few recent days, cryptocurrency has taken the world by storm. It has become a hot topic HOW TO INVEST IN CRYPTOCURRENCY IN INDIA. While many companies and businesses use cryptocurrency as their medium of exchange whereas, on the other hand, it has become home for many hackers and a source for various illegal goods on the dark web. Although it existed for quite a few years, there was no great reach to the people and other communities. Let us learn more about cryptocurrency and cryptocurrency exchange apps.
What is Cryptocurrency?
Cryptocurrency is a digital asset that is designed to work as a medium of exchange. It is a virtual currency that is secured through cryptography, which makes it completely impossible to cheat anyone or counterfeit. In easier words, Cryptocurrency is the alternative to cash and credit card.
What are the benefits of cryptocurrency?
Now that we recognize what cryptocurrency is, let us look at few advantages of cryptocurrency. Cryptocurrency provides people with easy transactions. With the help of cryptocurrency, there is no need for a middle man. The transaction takes place one to one with the help of a secure network. With cryptocurrency, each and every transaction becomes very transparent with nothing to hide. Once a transaction is done, it cannot be reversed under any condition. The best advantage of cryptocurrency is that the person owning the currency is the sole owner of public and private encryption keys. Another key factor is the investing in cryptocurrency yields high returns.
How does Cryptocurrency exchange work?
A cryptocurrency exchange is a digital marketplace where many people such as traders, can buy and sell cryptocurrencies using different cryptocurrencies or any different form of value exchange.
Now let us look at recommended best cryptocurrency apps to invest in India:
Binance app, founded in 2017 is the largest cryptocurrency exchange marketplace in the world. it has its own mobile application with a superior user interface. The app has various features which make it simple and super easy for Indian users to exchange digital or virtual currencies with Indian rupees or with other facilities such as UPI or PayTm. Binance app also has its very own Binance Academy app where users can learn and understand Cryptocurrencies and blockchains.
WazirX is yet another very popular crypto trading platform and application in India. The company, Binance owns WazirX which makes it easier to transfer assets and trades from Binance to WazirX. It is an Indian-focused app that avails fast transaction speed and is a user-friendly application. WazirX app has its own coin called WXR.
This app is user-friendly and has various features and facilities for Indian users, making it easier to understand and use. The WazirX application can be installed in any software such as Android, Mac, Linux, etc.
Coinbase App is spread widely for use all over the world. it is a United States-based company. It is known for being one of the simplest apps to use and is the perfect application for beginner investors who are looking to start investing in Cryptocurrencies. This app avails simple, fast, and secure Crypto transactions. Coinbase users can keep themselves updated with the help of this app. This app provides various opportunities to buy, sell, trade, and convert cryptocurrencies and earn rewards alongside watching short videos. The app is available on various app stores to download and use.
CoinSpot is an Australia-based cryptocurrency exchange app. It provides an easy way to exchange and trade bitcoins and a whole world of other digital currencies. This app is trusted by over one million Australians and is suitable for both beginners as well as advanced crypto traders. The app was founded in 2013, is a leading and great international app for crypto trading with some best security features.
Founded in the United States, Kraken is an outstanding international trading application. Kraken was decided to re-establish itself in the Indian market, after 2018 when the banking ban on cryptocurrency firms was removed. It has everything one needs to buy, sell, and trade-in cryptocurrency.
Unocoin is India’s leading Crypto asset and blockchain Company with over a million customers. It facilitates easy to buy, sell, store, and trade assets. It was founded in 2013. The app is known for its simple user interface and supports many cryptocurrencies. It also schedules a sale feature that allows auto-sell from the profit tab. The users are charged 0.7 percent on buying and selling their assets for the first 60 days which is later reduced to 0.5 percent and hence making the user a gold member.
CoinDCX is known as the most versatile trading app for cryptocurrency and assets. It lets you buy or sell up to 200+ trade coins with the help of a simple setup process of a one-time password (OTP) on your registered mobile number or email ID. It also provides the facility to learn a lot about investing in cryptocurrencies and how they work in the virtual world.
Zebpay is one of the oldest trading platforms. It allows one to fully signup using the app and provides KYC details through a phone number to start trading. This app has the feature to refer and earn. It provides 50% of trading fees made through referral for one year. It requires a minimum deposit amount of Rs 100 using UPI while for other payment methods is Rs 1000. Zebpay is very simple to use and understand, it provides great security to the user.
These are a few applications one might need handy when trading and investing in cryptocurrencies. They provide high security, privacy and are very well suited for Indian users. If you are investing or trading with cryptocurrencies, you might as well check-up with these user-friendly apps.