Cryptocurrency is a digital asset that uses blockchain technology to assign ownership to each unit. The value of cryptocurrency is determined by the cryptocurrency market’s supply and demand. It is a volatile asset, and a high-risk investment and investors should proceed only after thoroughly researching the financials.
Still, you can earn healthy APY (Upto 17%) on your top cryptos by using the HODL strategy in the Carret platform.
Learning how to invest in cryptocurrency is simple. Open an account with Carret, India’s most secure cryptocurrency investment platform.
It can be difficult to figure out how to buy Bitcoin, Dogecoin, Ethereum, and other cryptocurrencies if you’re new to the crypto world. Fortunately, learning the ropes is a breeze.
What are the Different Types of Cryptocurrency Investing?
When considering investing in cryptocurrency, you may consider purchasing and holding one or more crypto coins. Buying cryptocurrency directly is probably the most common way to add crypto exposure to your portfolio, but there are a few different ways to invest in cryptocurrency:
Buy cryptocurrency directly:
You have the option of directly purchasing and storing one or more cryptocurrencies. Your options include the most well-known digital currencies, such as Ethereum and Bitcoin, as well as 100+ cryptos in the Carret Platform.
Users can easily purchase Bitcoin, Ethereum, and other cryptocurrencies using a variety of payment methods such as bank transfer, debit card, and UPI. Carret now accepts payments from Indian cryptocurrency investors. To provide you with a secure and seamless crypto-buying experience, we only work with verified and trusted partners.
Invest in cryptocurrency companies:
You can invest in businesses that have a partial or complete focus on cryptocurrency. Cryptocurrency mining companies, mining hardware manufacturers, and companies like Robinhood Markets Inc. are among your options. You can also invest in companies with large amounts of cryptocurrency on their balance sheets, such as MicroStrategy Inc. (MSTR).
Invest in cryptocurrency-focused funds:
A cryptocurrency mutual fund is a grouping of cryptocurrency assets sold as a single investment.
Mutual funds, for those who are unfamiliar, are professionally managed portfolios of stocks, bonds, and other securities. Mutual funds are investments in which investors pool their funds. Investors benefit from a diverse portfolio in a single investment because these funds contain a variety of assets.
The expense ratio of each mutual fund represents the fee for investing in it. The expense ratio is calculated as a percentage of the managed assets. Cryptocurrency mutual funds function similarly to traditional mutual funds. The distinction is that they are specifically designed to invest in cryptocurrencies and cryptocurrency-related assets.
There are also exchange-traded funds (ETFs) such as index funds and futures funds, as well as cryptocurrency investment trusts.
Become a crypto miner or validator:
Crypto mining is the process of earning cryptocurrencies by recording and confirming transactions on a public digital transaction record known as a blockchain, which is accomplished by using computers to solve cryptographic equations.
Multiple nodes (computers) are used to validate a transaction to keep a decentralized public record of transactions. It accomplishes this by solving a difficult mathematical problem. The validation of a transaction eliminates the possibility of spending a cryptocurrency twice.
When a node verifies a transaction, a new block is added to the chain, and the validator is rewarded with the corresponding cryptocurrency for its efforts.
Anyone with a computer can set up a system and become a validator. All you need is mining hardware, cryptocurrency mining software, and a cryptocurrency wallet to store your cryptocurrency earnings.
How do you Buy Cryptocurrency from a Crypto Investment website like Carret?
Carret provides the most user-friendly and secure crypto investment platform in India for purchasing Cryptocurrencies.
Sign up now and you can start investing with as little as Rs. 200.
Carret offers investors the highest annual percentage yield (up to 17%) on stablecoins.
You can now start your crypto investment journey by following these simple steps:
Step 1: Download the App and start your signup process
Download our crypto mobile app, which is available on both the Google Play and Apple App Stores. Create a Carret crypto investment account using your email address.
Step 2: Complete KYC
To get your account verified, complete the KYC process by sharing your Aadhaar, PAN, Photo, and Bank details. It’s as simple as that.
Step 3: Add the deposit amount through UPI
Click on “Portfolio” > “Deposit”. Enter your desired amount (min Rs. 200) and proceed with the payment with your preferred UPI ID. You then need to copy your mentioned UPI ID and paste it into Carret’s UPI account and click “Done”. The amount will be reflected in your Carret account in some time. You can also deposit via net banking.
Step 4: Search for Crypto and Start Investing.
Once the amount is reflected in the portfolio, go to “Market” > Search for the crypto which you want to buy and “Buy” with your desired amount. Check all of your order’s details before clicking “Buy”.
Step 5: Earn High Interest by HODLing.
If you want to earn high Interest on your crypto investment in India, you can do so by depositing it in 24Carret and earning up to 17% APY. There is no lock-in period.
A best practice among investors is to review your entire portfolio regularly to determine whether you need to rebalance your holdings. Depending on your investment goals and other financial needs, this could mean increasing or decreasing your crypto exposure.
What to Know Before Investing in Cryptocurrency?
Investing in cryptocurrency is fraught with danger. Cryptocurrency prices, even the most established ones, are far more volatile than the prices of other assets such as stocks. Future cryptocurrency prices may be influenced by regulatory changes, with the worst-case scenario being that cryptocurrency becomes illegal and thus worthless.
Despite this, many investors are drawn to the potential upside of investing in cryptocurrency. If you decide to invest, you should thoroughly research any digital coin before purchasing it. When purchasing cryptocurrency, keep in mind that transaction fees can vary greatly between currencies.
With Carret, you might have less to worry about while investing in cryptocurrency in India, as you can earn a healthy APY (Upto 17%) on your crypto assets.
How Much Money Do I Need to Buy Cryptocurrency?
You can invest in Bitcoin or another cryptocurrency without having to spend a lot of money. for example, you can buy cryptocurrency with as little as Rs. 200 on Carret.
Conclusion: Is Cryptocurrency a Good Investment?
Cryptocurrency is a great long-term investment if you believe in blockchain technology. Bitcoin is viewed as a store of value, and some believe it will eventually replace gold. Surprisingly, Bitcoin is the only leading crypto project with an anonymous creator and has grown entirely organically.
Before you invest in a cryptocurrency for the long term, make sure you understand what you’re doing. Determine what problem the cryptocurrency is attempting to solve and then determine whether there is a real benefit to using blockchain technology as part of the solution. Some cryptocurrency companies create a token to easily raise funds from unaccredited investors, and their company gains no competitive advantage by operating on a blockchain.
With Carret, the safest, and simplest crypto investment app in India you can invest in 100+ cryptocurrencies with the lowest trading fees in the market. With Carret’s flagship product, 24Carret, investors who prefer less risky investments can earn up to 17% annual percentage yield on stablecoins.