Bitcoin was the first cryptocurrency to be created, and it was based on Blockchain technology. It was most likely launched in 2009 by a mysterious figure known as Satoshi Nakamoto. At the time of writing, 17 million Bitcoins had been mined, with a total of 21 million bitcoins expected to be mined. Ethereum, Litecoin, Ripple, Golem, Civic, and hard forks of Bitcoin including Bitcoin Cash and Bitcoin Gold are among the most popular cryptocurrencies.

Users are urged not to put all of their money into one cryptocurrency and to avoid investing during the pinnacle of the cryptocurrency bubble. It has been noticed that when the crypto bubble is at its pinnacle, the price drops dramatically. Because cryptocurrency is a volatile market, users should only invest the amount they can afford to lose. Because cryptocurrency is decentralized, it is not under the control of any government.

Steve Wozniak, Apple's co-founder, projected that Bitcoin will become a worldwide currency in the next years, dominating all other currencies such as the USD, EUR, INR, and ASD.

Why Invest in Cryptocurrencies and Why Not?

Bitcoin was the first cryptocurrency to be created, and since then, over 1600 cryptocurrencies have been released, each with its own set of features.

Some of the reasons I've experienced and would like to share are that cryptocurrencies were created on a decentralized platform, which means users don't need a central authority to use them. Unlike fiat currency, where a user must use a platform such as a bank to transfer money from one account to another, cryptocurrency does not require the involvement of a third party. Cryptocurrency is based on extremely secure blockchain technology, with nearly little danger of being hacked and having your coins stolen unless you provide some essential information.

Buying cryptocurrencies during the peak of the bitcoin bubble is always a bad idea. Many of us acquire cryptocurrencies at their peak in the hopes of making rapid money, only to be duped by the bubble hype and lose our money. It inserts should conduct an extensive study before making a financial investment. Rather than investing in a single cryptocurrency, it is usually a good idea to diversify your portfolio. One, it has been observed that only a few cryptocurrencies increase faster than the average, while others fall into the red zone.

Focus on Cryptocurrencies

In 2014, Bitcoin accounted for 90% of the market, with the rest of the cryptocurrencies accounting for 10%. In 2017, Bitcoin continues to dominate the crypto industry, but its share has dropped from 90% to 38%, while altcoins such as Litecoin, Ethereum, and Ripple have developed quickly and taken the majority of the market.

Although Bitcoin continues to dominate the cryptocurrency market, it is not the only cryptocurrency worth considering when investing in. The following are some of the most important cryptocurrencies to consider:

Bitcoin

Litecoin

Ripple

Ethereum

Tron

Civic

Golem

Monero

Where can I buy a cryptocurrency and how can I do so?

While this was not the case a few years ago, it is now. It is simple to purchase cryptocurrencies, but customers now have a variety of venues to choose from.

In 2015, India had two prominent bitcoin wallets: Unocoin wallet and Zebpay wallet, both of which allow users to buy and trade bitcoin. Users can only buy bitcoin from their wallet, not from another person. There was a difference in price between buying and selling, and consumers had to pay a little fee to complete their transactions.

In 2017, the cryptocurrency business exploded, and the price of Bitcoin skyrocketed, especially in the last six months of the year, forcing people to seek out alternatives to Bitcoin, which reached 14 lakhs in the Indian market.

As Unodax and Zebpay are the two biggest platforms in India, they have a 90 percent market share. market share - a company that only dealt in Bitcoin. It allows other organizations to flourish using alternative currencies, and it has even compelled Unocoin and others to provide new currencies to their platforms.

Unocoin, one of India's leading cryptocurrency and blockchain companies, has launched the UnoDAX Exchange, a unique platform that allows users to exchange several cryptocurrencies in addition to Bitcoin in Unocoin. The difference between the two sites was that Unocion only offered fast purchase and selling of bitcoin, but UnoDAX allows users to place orders for any available cryptocurrency, and the order will be fulfilled if it matches the receiver.

Other notable cryptocurrency exchanges in India include Koinex, Coinsecure, Bitbns, and WazirX.

Users must create an account in one of the following services. The exchange begins with a sign-up with an email address and the submission of KYC information. After their account has been validated, they can begin exchanging coins of their choosing.

Users must conduct thorough research before investing in any currencies to avoid falling victim to the cryptocurrency bubble. Users must investigate the exchange's trustworthiness, openness, and security measures, among other things.

Each transaction is subject to a small fee charged by all exchanges. The Maker fee and the Taker fee are the two types of fees. If you wish to transfer your bitcoins to another exchange or your private wallet, you must pay a transfer charge in addition to the transaction fee. The fees are determined by the coins and the exchange, as each exchange has its price module for transferring coins.

The Most Important Altcoins apart from Bitcoin

As previously stated, Bitcoin has a 38 percent market share, followed by Ripple, Ethereum, Litecoin, and Bitcoin Cash. Many more coins, such as Golem, Civic, Raiden Network, Kyber Network, Basic Attention, 0X, Augur, Monero, Tron, and others, have been listed on exchanges such as UnoDAX, Bitfinex, Kraken, and Bitstamp. If any of the coins fit your portfolio, you must purchase them.

However, you should only invest money that you can afford to lose in the cryptocurrency market, as it is extremely volatile and not under the control of any government.

When is the best time to buy?

When it comes to purchasing your favorite cryptocurrency, there are no hard and fast rules. However, one must investigate the market's stability. You shouldn't buy at the top of a cryptocurrency bubble or when it's about to burst.  The price continues to plummet. The optimum time is always when the price is relatively stable at a low level for a long period Keeping Cryptocurrencies

Before purchasing any cryptocurrency, it is necessary to learn how to keep it safe.

In general, all exchanges have a storage facility where you can safely store your coins. When holding cryptocurrency on exchanges, one should not divulge their login data, passwords, or 2FA.

Some of the methods for storing bitcoin include paper wallets, hardware wallets, and software wallets.

Paper Wallet: A paper wallet is a type of offline cold storage for cryptocurrency. It writes your private and public keys along with a QR code on a piece of paper. All one has to do is scan the future transactions, they will use the QR code. What makes it safe? There's no need to be concerned about your account being hacked or being infected with arduous viruses. All you have to do is save your piece of paper in a locker and, if feasible, keep two to three pieces of paper wallet under your complete control.

Hardware Wallet: A hardware wallet is a physical device that is used to store cryptocurrency. Hardware wallets come in a variety of shapes and sizes, but the most prevalent one is USB. When storing your cryptocurrency in a hardware wallet, keep in mind that if you lose your hardware wallet, you will be unable to retrieve your cryptocurrency.

One well-known incident, in which the personassignwwwas was as was ed over was 7000 bitcoins, which they stored in a hardware wallet and kept separate from another hardware wallet. He lost all of his bitcoin when he threw the hardware wallet in which he stored his money away due to faulty hardware.

What may bitcoins be used for in India?

Most people believe that buying and selling cryptocurrencies is solely to make a profit in the long and short term. Influencers and bitcoin investors believe that in the future years, Bitcoin will outperform all fiat currencies and be acknowledged as a global currency.

Dell is one of the most well-known e-commerce companies that accept bitcoin as payment. Other examples include Expedia and UNICEF.

Sapna Book Mall in India accepted bitcoin as payment. Unocoin merchant service is used. People were using the BookMyShow network to purchase cinema tickets and the Unocoin platform to recharge their mobile phones. According to the report, the service has been halted, but it is expected to resume shortly.

Conclusion:

Cryptocurrency is one of the fastest-growing investment areas, and it has historically outperformed real estate, gold, and stock markets. You can buy a cryptocurrency and hold it for a long time to earn good returns, or you can buy it now and sell it later for a rapid profit since several coins have grown by 1000 percent or more in the past. Because cryptocurrencies are a volatile market with no government oversight, they are not regulated. One should only invest money in cryptocurrencies that they can afford to lose.

You have the option of storing you don't want to keep your cryptocurrency at the exchange where you're trading, you can store it in a hardware wallet, a paper wallet, or a software wallet.