How To Start Investing In Cryptocurrency: The Basics
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What is cryptocurrency?
The concept of cryptocurrency is based on a digital payment system, which allows transfer of cryptocurrency without a bank or other intermediary.
Many of the coins are created or mined by computer algorithms, and their value depends on how many people are using them and how much they can be bought or sold.
Cryptocurrency can be divided into three groups: Cryptocurrencies which have value primarily because of their use as money in mainstream payment systems Cryptocurrencies which are focused on specialised applications for other purposes Cryptocurrencies based on other, often special, underlying technology What is Bitcoin? Bitcoin, or bitcoin cash in the main reference implementation, is a cryptocurrency whose supply is regulated by algorithms.
What is a cryptocurrency wallet?
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How to buy cryptocurrency
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Why should I invest in cryptocurrency?
Cryptocurrency is a form of digital or virtual currency which can be used in real time transactions across the globe.
This digital currency works just like traditional currencies and exists in form of coins or tokens. The coins can be stored in digital wallets which provide security and privacy to users.
The best thing about cryptocurrency is that it can be transferred anywhere and everywhere across the world. This is because the transactions do not have a physical trail that the rest of the paper currencies do.
How to trade cryptocurrency? Bitcoindark, ether, ripple, dash coin, bitcoin, litecoin and a lot more cryptocurrency have seen a high demand in the recent months and it is because of the great benefits it provides.
Conclusion
Cryptocurrencies are currently seeing an impressive rate of growth. It will be interesting to see how this whole phenomenon will evolve and get recognized in India.
It can be argued that this is just the beginning of what is to come and the whole cryptocurrency trend is going to have a long run.
At the time of writing this article, there are no specific cryptocurrency exchanges in India which offer fiat currencies.
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