Crypto MarketMarket

Stars in Indian Crypto Market

As we discussed in our previous blogs about cryptocurrency (if you haven’t, I would advise you to do so now- it surely will help you learn more about crypto), being a digital form of paper currency and what its pros and cons might be, you might have decided on whether you want to or don’t want to invest in them. But if you clicked on this blog, this means that you have decided on finally investing in them. Now that you have made this decision, I am sure the next question that must be haunting you is- There are so many cryptocurrencies out there. Which one should I invest in? So here I am, to help you! Today, we will talk about some of the cryptocurrencies that are popular and widely used in India. 

Bitcoin:

  1.  Well, it’s no secret, Bitcoin is the most popular, the longest living, and the highest valued cryptocurrency in India. I could have told you its price, but just like every other cryptocurrency, its prices fluctuate, and by the time you read this blog, who knows where it would be? It makes up for 46% of the cryptocurrency market capitalization all over the world. It is the opinion of some experts that Bitcoin could very well become a reserve currency for the rest of the financial system. 

Tether/USDT:

  1.  Well, tether gains its name from the word ‘tethered’ that means ‘being tied to’. You ask me why is it named so? To this, I say, because it is literally tethered. You again ask me, to what? I answer to the US Dollar. This makes it a ‘stablecoin’ with minimal volatility in its value. This feature makes it a convenient intermediate currency for every trader, or even just to hold your profits until you decide what you’d like to invest in next. 

Shiba Inu/SHIB:

  1.  As you might have guessed, this is named after a breed of Japanese hunting dog. This crypto began its journey with a very low exchange rate. Because of its low rate, a small amount as Rs. 2500 might get you over a million tokens of SHIB, a pretty cheap bargain as compared to the highly valued Bitcoin, a reason why it is so famous. 

Ethereum/ETH:

  1.  Ethereum is the silver to Bitcoin’s gold. In other words, it is the second most valuable cryptocurrency globally. ETH has introduced innovations to blockchain security and usage. Spoiler alert, it strived to become more environmentally friendly and also bring down its transaction costs- all in an attempt to remain popular among its investors- which I can definitely say is the cherry on the cake! Well, a cheap, environmentally friendly cherry on a silver cake!

WazirX/WRX: 

  1.  This cryptocurrency is mostly used as an intermediary between trades- i.e., it is used or invested in whenever a direct ‘currency pair’ exchange isn’t available. It is used in many transactions, some of them being rupee deposits and withdrawals, rewards and incentives, and so on. 

Dogecoin/DOGE:

  1.  Last, but definitely not the literal last, on today’s list is dogecoin. Its founders made Dogecoin as a joke. Little did they know that it would become the tenth most valuable crypto in the whole of world. Quite ironic, don’t you think so? Well, Elon Musk can be called its propagator. He is seen on many occasions expressing his liking for this cryptocurrency. Well, that’s your dogecoin for you. 
And here though I end today’s blog, it is definitely not the end of the actual list that exists out there. But before you leave, I must remind you once again that before investing, you should carefully study, research, and make yourself aware of the risks involved. Happy investing!

Also Read: Before You Invest In Something, Invest Time to Understand It-Forex

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