What is the best cryptocurrency to invest in right now? There are over 9,000 cryptocurrencies to choose from if you want to invest in cryptocurrencies. The largest cryptocurrency is Bitcoin, followed by Ethereum, and then there are other altcoins. Bitcoin dominates roughly 55% of the crypto markets, mainly used as a digital currency, and has grown by over 100% since the beginning of 2021 while Ethereum provides plenty of use-cases apart from being just a digital currency.
The market for Non-Fungible Token (NFT) and Decentralised Finance (Defi) has increased rapidly. Cryptocurrency space is evolving continuously and apart from Bitcoin and Ethereum, there are other interesting projects too that you can choose from in NFTs and Defi.
Today you can easily invest in cryptocurrencies in India. But before choosing encryption, it is important to look at the criteria for each and do your own research to minimize the risks associated with investing in cryptography. Keep your disposable income and risk appetite in mind before diving into it.
While choosing which cryptocurrency to invest in:
- Understand the basics of blockchain and crypto
- Follow the markets and keep a track of which cryptocurrencies are performing well
- Open an account on a crypto investment app such as CoinDCX Go
- Select crypto and start investing
Before selecting the cryptocurrency, it is important to get a basic understanding of what blockchain technology is and how crypto works. At CoinDCX, we have a comprehensive free platform dedicated to blockchain and cryptocurrency education called DCX Learn.
After understanding the basics, the next step is ideally keeping a track of the markets, thoroughly researching interesting projects by following their community pages, past performance, website, social media accounts, etc.
When you’re done, you can create an account for cryptographic investment applications like CoinDCX GO and start investing. At CoinDCX Go, we also send regular market updates on the coins on our platform to keep our investors up to date with the pace of the market and to make buying/selling decisions, and place orders.
Which Cryptocurrency Should I invest in 2021?
Dogecoin
The value of Dogecoin has increased tenfold since this debate but has since fallen by 40%. One of the most promising cryptocurrencies for 2021 is Dogecoin, which has grown significantly recently. Dogecoin has a market value of a record $ 80 billion.
What is the cheapest Cryptocurrency?
Tether
Tether is an Ethereum token that is pegged to the value of a U.S. dollar, according to Coinbase. At $1 per token, Tether is still one of the more inexpensive cryptocurrencies available.
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