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Best Crypto to Invest in India
As of now, cryptocurrencies are the most talked-about investments, but choosing the best crypto to invest in India is hard. Moreover, it has become a profitable option for several upcoming investors looking to diversify, even in India. This article will introduce you to a few of the best cryptos to invest in India in 2021.
1st Best Crypto to Invest in India: Bitcoin What is Bitcoin?Bitcoin is a digital asset that uses peer-to-peer technology and is based on the proof-of-work consensus protocol. Furthermore, it is the first, most secure, and the world’s largest cryptocurrency in terms of market capitalization. Moreover, while other cryptocurrencies pave a path for blockchain technology to evolve. Bitcoin provides the best store of value on the globe (Yes, better than gold) as the total supply of bitcoin is limited to 21 M, and nobody can produce more of it. Further, BTC has not been pre-mined and it would take another 100 years to mine the last bitcoin. Five years ago, the Bitcoin price was about $500, and during the first bull run of 2021, it hit an ATH of $64,000, which reflects considerable growth. To learn more, read What is Bitcoin and How Bitcoin Works?
Best Crypto to Invest in India: Bitcoin
Advantages of investing
- The limited supply of bitcoin and increasing demand makes it the best investment choice.
- After every 210,000 blocks are mined, the mining rewards are halved, which creates a digital scarcity.
Ethereum is a smart contract blockchain with its own cryptocurrency. ETH is a decentralized and global cryptocurrency of the Ethereum blockchain, and no company or bank can print more ETH or change its term of use. Moreover, ETH can be used as collateral for a variety of open finance applications. In recent years, the Ethereum price has portrayed a tremendous increase from $11 to $3900 approx.
Best Crypto to Invest in India: Ethereum
Advantages of investing
- While investing in Ethereum, there comes a lower risk of inflation as ETH features a transparent inflation strategy that is less susceptible to tampering.
- Another most considerable advantage of investing in Ethereum is the flexibility of the ETH blockchain. For instance, if somehow the cryptocurrency doesn’t succeed in the future, ETH could still utilize in several other ways.
The Graph is an indexing protocol for querying networks like Ethereum and IPFS. The platform also has a native token named GRT, which is an excellent investment to make in 2021. Moreover, the token facilitates the seamless transfer of value all over the world. You can store GRT on any ERC-20 or ETH compatible wallet. Furthermore, you can stake GRT to earn a passive income on your HODLings.
Also Read: How to buy GRT on CoinDCX?
Best Crypto to Invest in India: The Graph Network
Advantages of investing:
- The Graph is a worthy investment as per many blockchain investors because it is a technologically advanced project developed by an experienced team.
- Further, other factors that accelerate the Graph value include total supply, adoption rate, updates, etc.
1inch is a DEX (Decentralized exchange) that aggregates several DEXes into one platform. 1inch token enables protocol governance, allowing 1inch staker’s to vote for and receive rewards. Further, 1inch is a multichain token that is currently available on Ethereum and Binance smart chain. The 1inch protocol can optimize trading for traders and ensure lower price spillage puts the platform and its token in a good stand with the users in the market. To learn more, read A Complete Guide to the 1inch Protocol.
Best Crypto to Invest in India: 1 inch
Advantages of investing:
- 1inch could be further boosted due to its clear roadmap, which includes introducing lending and yield farming protocol.
- Additionally, the token’s performance is enhanced with the launch of version 2 of the 1inch protocol.
Polygon (previously known as Matic Network) is the first well-structured and easy-to-use platform for Ethereum scaling and infrastructure development. Moreover, the platform has its native token named MATIC, an ERC-20 token running on the Ethereum blockchain. Also, the tokens can be used for payment services on Polygon as a settlement currency between the users who operate within the Polygon ecosystem. The transaction fees on Polygon sidechains are also paid in MATIC coins.
Best Crypto to Invest in India: Matic
Also, read 5 Best Places to buy MATIC coin.
Advantages of investing:- The rise in price of MATIC is related to the increase in the price of Ethereum. It is a highly scalable layer two networks for Ethereum that reduces the transaction fees.
- The recent surge in adoptions of Polygon network has paved a path for its greater future.
- MATIC/ Polygon also offers adapter modules to enable interoperability in the existing blockchain networks.
Aave is a decentralized protocol allowing users to lend and borrow crypto. Moreover, there is no KYC or AML documentation to use the platform. Also, the Aave holders are entitled to a right to debate and cast votes on the proposals that might affect the Aave project. In addition, the users can also get flash loans from its DeFi lending market. To learn more about the AAVE lending procedure, head over to the best crypto lending platforms or refer to the chart below.
Advantages for investing:
- Using the Ethereum blockchain and smart contracts, Aave is eliminating middlemen like banks and financial institutions.
- AAVE allows you take loans without collateral (Flash Loans)
Cryptocurrencies have become a popular name among investors. This is because it provides not only short-term profits but also long-term returns. While figuring out the best crypto to invest in 2021, you’ll come across many cryptocurrencies. Therefore, the cryptos mentioned above are the best option to help you decide which one would bring you higher gains.
Frequently Asked Questions How do I start investing in Bitcoin?To start investing in Bitcoins, you need to follow the below steps:
First, join a Bitcoin exchange.
Second, get a bitcoin wallet.
Third, connect the wallet to a bank account.
Fourth, place your bitcoin order.
At last, start managing your bitcoin investments.
This question has no perfect answer. One could say, yes, it is safe as ETHs value has only risen over time and is predicted to rise further soon. However, it is also possible that its value falls and never rises again. Hence, we can say that crypto-assets are highly volatile, and you should only invest in them at your own risk.
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