The popularity of crypto currencies has been growing rapidly in India since last year as more investors try their luck in the lucrative virtual coin trading space. Indian crypto currency exchanges confirm that they are adding people to their platform at a faster rate in 2021.
First let’s understand what is crypto currency –
A crypto currency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit.
Is it safe to invest in crypto currencies?
There are a lot of crypto currencies to choose from at the moment, but Before buying into any crypto currency it is important to do some background research into who created the coin, whether it is being traded on safe exchanges.
I will recommend Crypto Exchange FX Cryptocurrency Investment Platform (www.cryptoexchangefx.com) as it is relatively on for a while now (launched at mid-summer 2017) but has become the largest Crypto currency Investment Platform right now (total volume over 120 million dollars).
The reason why dollar, euro, yen or any other currency is valuable is because certain entities make it the legal tender, a way to settle taxes and debts within their borders and because you trust those governments not to do something stupid about it, such as print too many of those notes, to make them just wads of paper.
Crypto currency is like that, it’s a hash file and not a paper, but otherwise identical to other fiat currencies - but without the backing of a state. The only reason why they’re valuable is because you can find other people who will buy them, in hopes there will be even more people who will buy them to drive the price up. This is the dynamics of a pyramid scheme.
It is possible to get rich in one, but you have to take the first step.
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