Crypto World: Altcoins, Tokens & How to Invest

Recently it came to light that many Indian techies were getting paid in cryptocurrencies. Young freelancers, engineers, data scientists, developers who worked for international clients are accepting payments in cryptocurrencies due to the rising trend. With the crypto market on the rise, it seems a great option to get crypto. Not just Indian techies but many businesses around the world have started accepting cryptocurrencies as a payment option. Being based on blockchain technology, it is safe and thus it is increasingly becoming the preferred mode of payments for businesses around the globe. With the rise in its use as a payment option, the crypto market is sure to flourish in years to come. This makes it the perfect time to start investing in the crypto market if you haven’t already.

What’s more exciting is the fact that you can start investing today. No need for any laptop or fancy stuff. Just a phone with an internet connection is enough. You need to choose an app that will help you invest in crypto. There are thousands of such apps available in the market. Instead of trying and moving from one app to another, take our word and use the Coinswitch app. This app is very easy to use and perfect for anyone who wants to start investing in this area. Install the app, register yourself through email, confirm your IDs, add bank details and start investing. Simple, isn’t it? Now you have a tool that you can use for investing your money and trading cryptocurrencies. But now another question arises, which coins should you invest in?

With the boom of bitcoin, many people who start only seem to buy bitcoin. Sure bitcoin is one of the biggest cryptocurrencies out there, but apart from bitcoin, there are many other coins that you can invest in. These coins are as safe as bitcoin and are called Altcoins. Altcoins are Alternatives to bitcoins. They came into existence after the initial success of bitcoin, hence the name. Altcoins such as Ethereum, Dash, Ripple, etc are among the popular ones. There’s also the option of investing in tokens. What are tokens, you ask? Tokens are built on the top of a coin platform and represent a utility or an asset. There are different types of tokens. Some of the popular tokens you may have heard of are – Tether, Binance USD, Chainlink, Dai, etc. The tokens mentioned in the previous sentence are based on the Ethereum platform except for Binance USD. Binance USD is based on the Binance chain platform.

Now you have everything to start investing. Remember to research cryptocurrencies before investing in them. Market Cap, circulating supply, and volume are some important factors to check before investing. Another suggestion would be to not put all of your money into one coin, rather invest in multiple coins so that even if you face losses, they are minimum. Beware of the internet finance gurus, there is no get rich quick scheme in play here.

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