How To Start Investing In Cryptocurrency In Easy Steps

Cryptocurrencies have emerged as an asset class that provides you with a chance to invest and earn substantial returns. The asset class, has garnered massive popularity in recent years. To start trading, you will need to set up an account and you can invest as little as Rs100 to begin with.

Cryptocurrencies have emerged as an asset class that provides you with a chance to invest and earn substantial returns. Despite the lack of government backing, this asset class, has garnered massive popularity in recent years. The probability of handsome returns over a short period has propelled investors to jump onto the crypto bandwagon. Here are steps that will enable you to trade in these digital currencies.

Step 1: Select Right Crypto Exchange

Due to the absence of crypto regulation in India, there is no fixed structure or uniformity to trading in cryptocurrency. But with the help of the crypto exchanges’ platforms, you can easily buy and sell your digital currency. WazirX, UnoCoin, CoinDCX, and CoinSwitch Kuber are popular cryptocurrency exchanges in the country.

Step 2: Open a Trading Account 

You have to open a trading account at the Crypto exchange of your choice. This account will be similar to that in a bank. While registering, the exchange will verify your credentials based on the services you opt for, the amount you plan to invest, and the available coins trading options. It will require sharing KYC (Know Your Customer) data and setting up payment options. For KYC, you may need to submit copies of your PAN card, photo identity, and address proof. Notably, Crypto exchanges function round the clock throughout the year, unlike regular stock exchanges.