Step 5: Purchase cryptocurrency: After adding the funds to your account you can smoothly buy your selected cryptocurrency. You can choose peer-to-peer, bank transfer, online payment mode or a crypto wallet. Step 4: Choose payment mode: For buying a cryptocurrency you need to select a payment option that you find comfortable. After setting up your account you’re ready to invest in cryptocurrency. Step 3: KYC: Once you select a crypto exchange you need to register yourself by providing personal details like name and address and complete the entire KYC formalities. Check out our article on the best cryptocurrency exchanges in India. It is a necessity to have a functional account in a crypto exchange which will help you to buy and sell cryptocurrencies. Step 2: Select a crypto exchange: After you made up your mind about a cryptocurrency it’s time for you to find a perfect crypto exchange platform for yourself. Make sure that you research and analyze before investing as the crypto market is highly volatile. Like any other asset class, crypto has its own fundamentals and different blockchain networks back them, intrinsic value and mining techniques. Step 1: Select a cryptocurrency: Choose a cryptocurrency you wish to invest in. Steps On How To Invest In Indian Cryptocurrency Market The most important part is to invest only a miniscule amount and not all your life savings as the market is highly volatile and there are chances of you losing it all. Crypto experts consider that in the overall portfolio, investors should just look at investing just the 5% exposure to cryptocurrencies. Crypto investors believe that in situations like this, investing in stable digital currencies like Bitcoin and Ethereum in SIP format is a safe choice. The year 2023 gave a fresh start to the crypto world, showing positive signs of recovery. The cryptocurrency market has seen the good side as well as the worst side of the market, be it post-Russia-Ukraine effects, Terra-Luna crash, FTX collapse or tightened tax regulation, it has witnessed roughest storms during the past few years. Crypto cannot sail alone, for a balanced atmosphere all other financial assets have to follow the same sentiments. The crypto market till now has no doubt positively responded to the global finance uncertainty and is still standing strong amid tightening credit situations with shaky bond market volatility. If we take Bitcoin it is still 50% down from its all-time high which was in November 2021 at $60,000 and Ethereum is currently at $1,800, an all-time high at $4,000 in the year 2021. Most of the crypto are way behind their all-time highs. As of October 31, 2023, Bitcoin is trading at $34,497 and Ethereum is trading at $1,808.Ĭrypto experts believe that the current situation is tough and the recovery is long ahead. However, if we talk about the world’s largest cryptocurrencies, Bitcoin and Ethereum were at the top of the charts till last month and showing signs of recovery. The current volume in the digital crypto market stands at $41.21 billion. This has left the crypto investors confused and nervous. Bitcoin crossed the level of $31,000 in July 2023 and is again at a low in August 2023 at $27,000 but has shown immense recovery in October at the level of $34,495. Federal Reserve’s stance on interest rate hikes has moved the crypto market upside down. The cryptocurrencies were showing a sign of stability last month but due to the U.S. This is the nature of the crypto market which is highly volatile and unpredictable. Nevertheless, the market sentiments have slowly turned from fear to greed and then to neutral. This year gave a fresh and positive perspective to major cryptocurrencies like Ethereum and Bitcoin, which gradually turned green helped by the relaxed macroeconomic situation of macroeconomic and cooling inflation. The FTX fallout in the year 2022 shook the market and turned it downside. The crypto market is swinging from left to right, comfortable in limited range and smooth curves. Please invest carefully, your capital is at risk How is the Crypto Market Performing?
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