Crypto, a new asset class, is backed by reliable blockchain technology. It has piqued the interest of investors all over the world as one of the newest and most lucrative asset classes. Early adopters and seasoned investors have incorporated these assets into their portfolios to benefit from enhanced returns.

If you’re thinking about buying some of these virtual assets, you should first learn about cryptocurrency.

So, What is cryptocurrency?

Cryptocurrency is a type of digital or virtual currency that uses cryptography to secure transactions. Cryptocurrencies operate without a central issuing or regulating authority, instead of relying on a decentralized system to track transactions and create new units.

Now that you got to know what is a cryptocurrency

Here are some things you have got to keep in mind while planning for crypto investment in India:

  1. Price Swings Are Common: Price fluctuations rule the crypto market. Dips and highs are common in the stock market. Because crypto-assets are still largely unregulated, this is the case. The value is not dictated or controlled by any institutions. The turbulence is unlikely to subside. Volatility and non-centralized control, however, are at the forefront of the crypto world.
  2. Great Effects of Market Trends: The performance of crypto assets is heavily influenced by current market trends. They are heavily influenced by economic performance and public opinion. You must keep a close eye on the news or predictions that swirl around a given crypto asset if you want to be smart and well-informed about the best cryptos to invest in.
  3. Pay an Eye to Asset Security: Cryptocurrencies, as you may know, are unregulated and not backed by a central authority. This means that when it comes to investing and holding on to your assets, you must exercise extreme caution. Carret, a trustworthy crypto investment platform, can help you trade and manage your assets with ease. Furthermore, you must always take precautions to protect your personal information and passwords.
  4. Making Predictions is Tough: The crypto market is still expanding, and it’s been difficult to keep track of the fluctuations. This industry’s worth is expected to increase over time. However, it remains a closed bubble driven by implausible implications. It’s difficult to predict how the industry will play unless you’re constantly on the lookout.
  5. Current Market Scenario: The crypto market has taken a significant hit recently. Its market value has plummeted to less than half of what it was in January 2022. This sharp drop can be attributed to ongoing financial market volatility. The Indian rupee has taken a beating against the US dollar, the Sri Lankan economy is in jeopardy, and political strife exists between Ukraine and Russia. As investors sell assets, all of these factors are having a significant impact on crypto stability. Experts believe, however, that the crypto class will emerge from this phase to shine brightly in the future. 
  6. Beware the Bubble: Many investors and analysts believe the cryptocurrency market is a speculative bubble. Prices have skyrocketed, and these investors believe the industry will not be able to sustain itself in the long run. If this is the case, it will be difficult or impossible to predict when the industry will crash, as it is with any bubble.
  7. Safety and Security: Because cryptocurrencies are unregulated, it’s critical to take extra precautions to invest safely and securely. Investors have lost thousands of dollars or more as a result of major hacking events, and hackers have gone free in many cases. The most important first step is to find a reliable and trustworthy cryptocurrency wallet. Carret is a great crypto investment app that lets you store and trade your cryptocurrency assets all in one place.

How do I learn more about the cryptocurrency that I want to buy?

You can learn about every happening in the crypto world only on the Carret platform. Carret is India’s most trusted platform where you can get a detailed view of the Crypto world and also the safest crypto investment platform in India, where you can trade more than 100 top cryptocurrencies in the world. 

Carret is the safest cryptocurrency investment platform, allowing you to trade popular cryptocurrencies while earning up to a 17% annual percentage yield on your crypto holdings. In one place, you can buy, sell, and earn money on your favourite cryptocurrency. We have the most crypto assets, liquidity, and trading fees of any exchange.

The best part is that you can now earn up to 17% p.a. on your idle crypto holdings with 24Carret, India’s first crypto savings account. You have no time limit on when you can withdraw your funds.

Let’s get to know about some benefits, other than holding crypto in 24Carret and earning up to 17% APY. 

Some Benefits of Long-term Investment in Crypto

  1. Aids Withstand Volatility: The crypto market sways, with margins constantly dipping and rising. Long-term investing is a good way to manage volatility and maximize potential profits over time.
  2. Enjoy Advanced Functionality: The cryptocurrency market is constantly improving. It is becoming increasingly relevant in the real world, which will inevitably increase its value. Staying put for a longer period provides more opportunities to profit over time.
  3. Help Beat Inflation: Inflation has a significant impact on traditional currencies. Because cryptocurrency is scarce, widely accepted, and long-lasting, it may be able to withstand rising inflation.

Is investing in cryptocurrency a good idea?

You can buy Bitcoin both online and offline, or use it as a buy-and-hold asset in your portfolio. Experts say it has evolved into a “safe-haven investment rather than a currency in the long term” Bitcoin has outperformed all other cryptocurrencies over the last decade. Regardless of the ups and downs.

You can buy and hold bitcoin with other cryptocurrencies in the 24Carret digital saving wallet to gain an attractive APY. 

Conclusion

Cryptocurrencies have exploded into mainstream financial discourse. Now is a good time to invest and reap the benefits of potential returns. However, you should be aware that the investment landscape is complex. Vetting the asset carefully and investing through well-curated platforms like 24Carret by Carret can help you get the most out of this appealing asset class.