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Things To Know Trading in Cryptocurrency Exchange App

In the last year, the price of Bitcoin has increased by more than fourfold, while the price of Ethereum has increased by more than tenfold. Many individual investors have been enticed to try their hand at this new and exciting asset class because of the high returns. More young people and first-time investors are interested in investing in cryptocurrencies. The majority of investors, on the other hand, are unfamiliar with the cryptocurrency markets.

Investing in cryptocurrency is not prohibited:

In 2018, the Reserve Bank of India (RBI) prohibited banks from assisting cryptocurrency transactions. The whole crypto community in India went insane as a result of this circular, and several people filed writ petitions to overturn the prohibition.

The Supreme Court decided against the RBI prohibition two years later, in March 2020. There were no obvious reasons for such a prohibition, according to the report. Recently Reserve Bank of India has declared that it is looking into the possibility of establishing a central digital currency (CBDC) to control the market, which may be a good thing for the crypto market.

Cryptocurrencies are not prohibitively costly:

When we mention cryptocurrency, most people immediately think of Bitcoin.

You may be aware that the price of a single Bitcoin has risen to a staggering 30 lakhs per coin. Many would-be investors believe they cannot afford to invest in such high-value assets and so avoid them.

Most people are unaware that Bitcoins may also be purchased in fractions. There are crypto exchanges in India, such as koinbazar, that allow consumers to acquire Bitcoin with a small investment.

Best way to obtain cryptocurrency:

Cryptocurrency may be purchased using an online trading platform. Some people make money with cryptocurrencies through a sophisticated process known as "mine," which necessitates the use of advanced computer equipment to solve extremely difficult arithmetic puzzles.

Koinbazar is a India's leading cryptocurrency exchange app for crypto-exchanges with certain features you would appreciate as a crypto-trader like Trading Autobot, Referral Program, and Instant INR withdrawal. Users who download and sign in to the app will get FREE 10,000 SHIBA INU tokens instantly gets deposited into your koinbazar account.

 

Store your Cryptocurrency:

The act of purchasing bitcoin is only the first step in the process. Yes, you may leave the cryptocurrency on the exchange, and if you're trading frequently, this could be the best option. However, any chart of cryptocurrency prices over time will show that the price of Bitcoin, or the value of Ether in INR, has retained its worth over time, despite considerable volatility in shorter periods.

This implies you'll need to keep your money in a crypto wallet for a longer length of time if you want to keep them secure. There are three sorts of wallets: hot, cold, and paper, and you must select one based on how you want to store your money.

Use of Cryptocurrency Exchange App:

The method is the same for all of the main exchanges. You must first establish an account, after which Indian exchanges would request KYC verification. This is done to avoid fraud, and you will be required to present identification documentation. The process is typically short, and you may begin trading immediately after putting funds on the exchange.

You can do so by connecting your bank account to your cryptocurrency account, or by using a debit/credit card or net banking. When your exchange has completed its procedure, you will be prompted to place your first order.

Enter the symbol for the cryptocurrency you wish to buy (BTC for Bitcoin, ETH for Ethereum, and DOGE for Dogecoin) as well as the amount you want to spend. Today lot of platforms offers Cryptocurrency exchange in Both Android and IOS.

Android App - https://play.google.com/store/apps/details?id=com.application.koinbazar

IOS App - https://apps.apple.com/in/app/koinbazar/id1567360326

steve joseph

author

Professional crypto-trader

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