A lot of investors are investing in cryptocurrencies. But for the masses, they are still an enigma.
Cryptocurrencies have been around for some time now. Several companies have started accepting crypto as payment for their goods and services. Their vigorous growth and attractive returns have piqued the interest of many Indian investors to explore crypto as an investment option. But how to learn cryptocurrency trading? Well, the best place is the internet. But for a beginner, it is a difficult task. So we have compiled a cryptocurrency guide for beginners with cryptocurrency basics and trading methods.
What Is Cryptocurrency?
Let’s begin by understanding the meaning of cryptocurrency.
It is a digital token or virtual money secured by cryptography, used for paying for services and managed by an open-source Blockchain ledger technology. They are known for the decentralized format, making them immune from government intervention. Moreover, cryptography technology makes it impossible to counterfeit or double spend.
The first peer-to-peer, decentralized cryptocurrency was Bitcoin, which made its debut in 2009. Currently, there are around 10,000 cryptocurrencies available in the sphere. And, per the data published by CoinMarketCap.com in August 2021, their total value was $1.9 trillion. Many of them are popular and transacted daily.
Although several countries, including India, are yet to formulate regulatory status for dealing and investing in cryptocurrencies, they are quite popular among investors and a good option for portfolio diversification. A crypto trading for beginners guide is a good starting point if you want to add them to your investment mix.