Beginner’s guide. Introduction to cryptocurrencies

Introduction. Invest in cryptocurrencies

The first cryptocurrency to emerge was Bitcoin, which was built on Blockchain technology և, probably launched in 2009 by a mysterious person, Satoshi Nakamoto. At the time of writing, 17 million bitcoins have been mined, and it is estimated that a total of 21 million bitcoins can be mined. Other popular cryptocurrencies include Ethereum, Litecoin, Ripple, Golem, Civic, bitcoin hard forks such as Bitcoin Cash, and Bitcoin Gold.

Users are advised not to put all the money in one cryptocurrency, to try to avoid investing in the peak of the cryptocurrency bubble. It was noticed that the price suddenly dropped when it was at the top of the crypto bubble. Because cryptocurrency is an unstable market, users should invest as much money as they can afford to lose, as no government has control over cryptocurrency because it is a decentralized cryptocurrency.

Apple co-founder Steve Wozniak has predicted that bitcoin is real gold; in the future it will dominate all currencies, such as the US dollar, the euro, the INR, the ASD, and will become a world currency in the coming years.

Why not invest in cryptocurrencies?

Bitcoin was the first cryptocurrency to emerge, and about 1600+ cryptocurrencies were launched after that, with a unique feature for each coin.

Some of the reasons I felt I կիսվել like to share are that cryptocurrencies are created on a decentralized platform, so users do not require third parties to transfer cryptocurrencies from one place to another, unlike fiat currency, where a user needs a Bank-like platform to transfer money from one account to another. : Cryptocurrency is built on very secure blockchain technology – almost zero chance of hacking or stealing your cryptocurrencies until you share some of your important information.

You should always avoid buying cryptocurrencies at the top of the cryptocurrency bubble. Most of us have a laid back attitude when it comes to painting a picture about ourselves. It is better for users to do a lot of research before investing money. It is always a good idea to put your money in a few cryptocurrencies, as some cryptocurrencies have been found to grow more, some to average if other cryptocurrencies go red.

To focus on cryptocurrencies

In 2014, bitcoin occupied 90% of the market, and the remaining cryptocurrencies – the remaining 10%. In 2017, bitcoin still dominates the crypto market, but its share has fallen sharply from 90% to 38%, and Altcoins such as Litecoin, Ethereum, Ripple have grown rapidly to capture market share. :

Bitcoin still dominates the cryptocurrency market, but not the only cryptocurrency to consider when investing in cryptocurrency. Some basic cryptocurrencies that you should consider:









Where և how to buy cryptocurrencies.

A few years ago it was not easy to buy cryptocurrencies, but now users have many platforms available.

In 2015, India has two major bitcoin platforms: Unocoin Wallet և Zebpay Wallet, where users can buy and sell only bitcoin. Users should buy bitcoin only from their wallet, but not from another person. There was a price difference in the buying-selling rate և users had to pay a certain nominal fee to complete their transactions.

In 2017, the cryptocurrency industry grew exponentially, the price of bitcoin rose spontaneously, especially in the last six months of 2017, which forced users to look for alternatives to bitcoin, cutting 14 lakhs in the Indian market.

Because Unodax և Zebpay are the two main platforms in India that have dominated the market, having 90% of the market share, which was occupied only by Bitcoin. It allows other organizations to grow with other alcoins, even forcing Unocoin to add more currencies to their platform.

Unocoin, one of India’s leading cryptocurrency blockchain companies, has launched a unique UnoDAX Exchange platform for their users to trade in several cryptocurrencies in addition to trading Bitcoin with Unocoin. The difference between the two platforms was: Unocion only provided instant bitcoin trading, while UnoDAX users can order any available cryptocurrency, if it matches the recipient, the order will be processed.

Other major cryptocurrency exchanges available in India are Koinex, Coinsecure, Bitbns, WazirX.

Users must open an account at any point of exchange by registering by e-mail. with id և presenting KYC data. Once their account is approved, you can start trading the coins of your choice.

Users should be careful not to fall into the trap of cryptocurrency bubbles before investing in any coin. Users need to study the reliability, transparency, security features of the exchange և much more.

All exchanges charge a nominal fee for each transaction. There are two types of money: the producer’s fee and the borrower’s fee. In addition to the transaction fee, you must pay the transfer fee if you want to transfer your cryptocurrencies to another exchange or to your personal wallet. The charges depend exclusively on the և exchange of coins, as different exchanges have a modulus of difference in the transfer price of coins.

Basic Altcoins, except Bitcoin

As mentioned above, Bitcoin dominates the market with a 38% market share, followed by Ripple, Ethereum, Litecoin, Bitcoin Cash. Exchanges such as UnoDAX, Bitfinex, Kraken, Bitstamp have listed many other currencies such as Golem, Civic, Raiden Network, Kyber Network, Basic Attention, 0X, Augur, Monero, Tron և many more: If one of the coins fits your portfolio, you should buy it.

But you have to put money in the market, which you can afford to lose, because the cryptocurrency market is very volatile, no government has control over it.

When to buy?

There is no hard and fast rule when it comes to buying your favorite cryptocurrency. But the stability of the market must be studied. You should not just cryptocurrency bubble peak or when the price keeps falling. The best time is always when the price is stable at a relatively low level for some time.

Cryptocurrency storage method

Before buying any cryptocurrency, you need to understand how to keep your cryptocurrency safe.

In general, all exchanges provide storage space where you can safely store your coins. When you carry cryptocurrencies on exchanges, you should not share their user data, password, 2FA.

Paper wallets, hardware wallets, software wallets are some of the channels where you can store your cryptocurrency.

Paper wallet. A paper wallet is an offline method of keeping your cryptocurrency online. It prints your personal և public key on a piece of paper with a QR code printed on it. They just need to scan the QR code for their future transactions. Why is it safe? No need to worry about hacking your account or attacking any malware. All you have to do is keep your piece of paper in a safe և, if possible, keep two or three pieces of paper wallet completely under your control.

Equipment wallet. A device wallet is a physical device where you secure your cryptocurrency. There are many types of hardware wallets, but the most commonly used hardware wallet is USB. When storing your cryptocurrency in your hardware wallet, you just need to remember that you should not lose your hardware wallet as you will not be able to get your cryptocurrency back after you lose it.

A well-known case where a person mined 7000+ bitcoins, kept them in their hardware wallet, kept it with another hardware wallet. One day he threw his hardware wallet in which he kept his cryptocurrency instead of damaged equipment և he lost all his bitcoin.

What can be bought from cryptocurrencies in India?

Most people think that buying and selling any cryptocurrency is just for the sake of making a long-term, high-yield investment. Influencers and bitcoin investors believe that in the coming years bitcoin will dominate all fiat currencies and will be accepted as an international currency.

Dell is one of the largest e-commerce businesses that accepts bitcoin as a payment. Expedia և UNICEF are other examples.

In India, Sapna Book Mall accepted bitcoin as a payment through the Unocoin trading service. People booked movie tickets through BookMyShow or recharged their mobile phones through the Unocoin platform. According to the report, they have stopped the service, but intend to start again in the near future.


Cryptocurrency is one of the growing investment sectors; it has generated better returns than ever before in real estate, gold, stock markets, and so on. You can buy cryptocurrency պահել keep it long-term for good returns or go short-term for quick profit, as we have seen many coins grow 1000% + in the past. Because cryptocurrency is an unstable market, there is no government control over the industry. One has to invest in any cryptocurrency that they can afford to lose.

You can store your cryptocurrency in a hardware wallet, paper wallet, software wallet if you do not want to store it on the stock exchange where you trade.

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