India has shot past other countries to be the fifth-largest economy in the world. Naturally, Indian investors are looking at global trends to bank on. The new and emergent crypto sector is something that is in consideration by many. Officially classified as virtual digital assets (VDAs), it is estimated that India has 25 to 30 million investors who have parked some share of their portfolio in this sector. We believe this will grow multi-fold in the next 3-5 years.
The crypto sector sees massive volatility which even seasoned investors find difficult to navigate. There are however clear-cut ways to find one’s feet in the crypto landscape wherein the projects (coins, tokens associated with them) are assessed based on their usability and viability (explained in their whitepapers). To sum it up, crypto is a lucrative market that can offer significant returns if approached correctly.
Today we enlist the right ways to approach and trade in this high-risk high-returns market.
Before you start trading, it is essential to understand the basics of crypto assets. Cryptocurrencies use encryption techniques to secure and verify transactions. Unlike traditional banking, crypto assets are decentralized and are not controlled by any central authority. Bitcoin and Ethereum are considered the most reliable assets in the market.
To start trading, you need to choose a reliable and compliant India crypto exchange. Exchanges help you convert your INR to crypto assets seamlessly. It is crucial to do your research and select an exchange that is secure, has a good reputation, and offers the crypto assets you want to trade.
Given India’s classification of the sector under PMLA ambit, a compliant exchange is a must. Read up on an exchange’s
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