Cryptocurrency is divided into two main categories:
1. Coins: Cryptocurrencies like Bitcoin, Ethereum which work on their blockchain.
2. Tokens: tokens like Shiba Inu, Tether which are dependent on some other blockchain.
Which are the famous cryptocurrencies?
1. Bitcoin (BTC): World’s first and most popular cryptocurrency.
2. Ethereum (ETH): For smart contracts and decentralized applications.
3. Dogecoin (DOGE): A meme coin that became popular after Elon Musk’s support.
- Ripple (XRP): For bank transactions.
Future of Crypto in India
There is a mixed response to crypto in India. The government has not regulated it yet, but RBI is working on digital currency. Indian youth is taking interest in crypto due to platforms like WazirX, CoinSwitch.
Should you invest?
If you want to invest in crypto, it is important to understand that it is a high-risk investment. You should invest only a small part of your portfolio in it and always use reputed exchanges like Binance, CoinSwitch or WazirX.
Last Words
Cryptocurrency is a new and dynamic technology that can change the world landscape in the coming time. But it is a high-risk and high-reward investment. Investing with understanding, thinking and security is the key to success. Crypto may be the future of the world, but it is important that we keep our eyes open and understand its risks.