Want to invest in Bitcoin, know the method

The desire to invest in cryptocurrencies, especially Bitcoin, is increasing rapidly in the country. The reason for this is the huge profits earn from it. This has given investors an opportunity to earn a lot of money. However, currently its price has fallen far below this year’s record high. Still, investors are investing money in it because they see an opportunity to invest in it at a cheap price. According to a report, more than one crore new investors of cryptocurrency have become in India in 2021.

At present, there is a decline in most of the major cryptocurrencies including Bitcoin. Most of the currencies including Bitcoin, Ethereum, Dogecoin, Cardano have fallen more than 30 percent from their high. Many investors are looking for investment opportunities in this decline. At the same time, there is still attraction towards crypto among new investors. But the big question before many investors is how to invest in it. Just as company shares are bought and sold on exchanges like BSE and NSE, similarly cryptos like Bitcoin are bought and sold on crypto exchanges, that is, if you want to invest in Bitcoin, then you can easily invest money in it by going to any exchange. Can apply.

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Bitcoin price fluctuations

This year there has been a lot of ups and downs in the price of Bitcoin. In April this year, its price had reached around $65,000. This was its highest price ever (record high price). Then, in June its price fell to around $30,000. However, it is showing a rise in the last few weeks. On Monday (July 12), the price of Bitcoin increased by 3 percent to $ 34,503. A rise of 3.60 was also recorded in the price of Ethereum. It reached $2167.

Major Cryptocurrency Exchanges

WazirX, Coindex, Zebpay, CoinSwitch Kuber and UnoCoin are its major exchanges. WazirX was founded in 2017. Later it was acquired by Binance Holdings. It is the world’s largest cryptocurrency exchange in terms of trading volume. You can invest in Bitcoin online through WazirX.

How to invest in Bitcoin?

You first have to open an account in a cryptocurrency exchange. To open an account in an exchange, first you have to register or sign up. For this you will have to enter your details. After email verification and account security setup, you will hear the name of the country. After selecting the account, you will have to transfer money to it. Then you can buy bitcoin.

Some important things before starting crypto trading

Choosing a Crypto Exchange- To start trading in crypto, you have to find the best trading platform. There are many exchanges currently operating in India, including CoinSwitch Kuber, WazirX, BuyUCoin and many others.

Uploading required documents and KYC process- Just as documents are required to open an account in any bank, similarly to open a trading account on a crypto exchange. This will ensure that your account is valid and correct. This will also protect your account. Apart from this, you will also have to give your payment option. With this payment option, you will make deposits and withdrawals etc. after the start of trading.

Placing your trading order- After depositing documents and money with the exchange, it is not necessary that you will be able to start trading immediately. After this the exchange will verify your details, this may take some time. When the KYC process is complete, the exchange notifies its users about it.

Start investing with small amount- The crypto market is subject to a lot of fluctuations. The faster the prices rise here, the faster they also fall. In such a situation, it is wise to invest only as much risk as you can bear in the beginning.

Choose only one crypto first- Invest in a single crypto at the beginning of the investment. And choose such a cryptocoin or token in which you are completely sure about investing. After investing, stick to your decision and then monitor your progress. Only after this think about increasing your portfolio.