How to Buy Cryptocurrency in India: A Beginner’s Guide
So, you are interested in buying cryptocurrency in India but need help figuring out where to start. You’ve heard about the advantages of making an investment in digital currencies.
However, you are also aware of the high risks. Well, worry not! In this Beginner’s Guide, we will stroll you through the ways of buying cryptocurrency in India and introduce you to a new platform that is making waves in the world of crypto trading.
First, consider why you might want to invest in cryptocurrency. Unlike conventional forms of making an investment, cryptocurrency is decentralized, which means any government or financial institution does not manage it.
This gives you more control over your investments and doubtlessly leads to higher returns. However, it is essential to consider that cryptocurrency is notably risky, so it’s crucial to investigate and invest wisely.
Let’s get to the fun part: buying cryptocurrency in India. We’ll cover everything from choosing a wallet to making your first trade. And we will introduce you to Gerino, a new platform making trading and promoting cryptocurrency easier than ever. So, buckle up and combine to enter the thrilling cryptocurrency trading internationally.
An Introduction to Cryptocurrency and Blockchain in India
Cryptocurrency and blockchain era are gaining increasingly more traction in India. Everyone is interested in the ability of this revolutionary tech, from personal crypto corporations to the authorities. But what precisely is a cryptocurrency, and how can you buy it in India?
Cryptocurrency is a digital asset that works as a medium of exchange. It uses cryptography to secure the transfer of funds and regulate the creation of additional currency units. Cryptocurrencies may be traded for goods, services, or other cryptocurrencies — just like traditional currencies.
In 2023, cryptocurrency exchanges like Gerino commenced operating in India, allowing customers to shop for and promote cryptocurrencies with Indian Rupees (INR). With Gerino, you can buy leading cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and hundreds of altcoins in just a few clicks.
How to Open a Cryptocurrency Exchange Account in India
Welcome to Gerino, the cutting-edge crypto trading platform where possibilities unfold. Opening an account with us is straightforward, ensuring you a seamless entry into digital currencies.
To commence your journey, visit the official Gerino website and locate the “Sign up” button at the top right corner. Once your account verification is completed and approved, it’s time to fund your Gerino account. Deposits can be made in Indian Rupees (INR) via bank transfer or UPI payment.
Please note that the minimum deposit amount is INR 1000, ensuring a solid foundation for your trading endeavors. With your Gerino account adequately funded, you gain access to cryptocurrency trading. Gerino welcomes you to embark on this exciting journey into digital assets.
Fund Your Cryptocurrency Exchange Account
Step One: Choose Your Funding Method
Most cryptocurrency exchanges in India offer various funding options to cater to your needs. These options may include bank transfers, credit/debit cards, and UPI transfers.
Take a moment to delve into the depths of research and identify the funding method that resonates best with you. Consider factors such as convenience and associated fees to make an informed decision.
Step Two: Complete the Verification Process
Before you can embark on the journey of funding your account, a regulatory requirement demands your attention. It’s time to complete the verification process by submitting essential personal information.
This may include your name, address, and identification documents. This crucial step shields against fraudulent activities, ensuring a secure user trading environment.
Step Three: Add Funds
Now that your account has been verified and the gateways to your crypto dreams have opened wide, it’s time to infuse your account with financial energy. Utilize the funding method of your choice, following the exchange’s instructions meticulously.
Remember, my friend, to double-check all the details before taking the leap and submitting any transactions. Caution is critical in this exhilarating journey.
Step Four: Set Up Security Measures
Activate the solid two-factor authentication (2FA) and forge unyielding passwords to safeguard your precious funds.
Choose Which Cryptocurrencies to Buy: Bitcoin, Ethereum, or Altcoins
Let us begin with the titan of the crypto realm, Bitcoin. This legendary digital currency has stood the test of time, reigning supreme for over a decade. With a limited supply of 21 million coins, it is often regarded as a store of value, akin to the precious metal gold.
Venturing further, we encounter Ethereum, a blockchain platform transcending mere currency and enabling developers to construct decentralized applications and smart contracts.
Within the Ethereum ecosystem, Ether (ETH) takes center stage as its native cryptocurrency. Among the ranks of altcoins, you shall encounter the likes of Litecoin, Ripple, and Cardano, each with unique tales to tell.
Gerino, the haven of crypto exploration, presents a cornucopia of cryptocurrencies for your discerning eye. Take the time to wander through this bountiful marketplace, evaluating which digital marvels align with your investment goals and aspirations.
However, amid this exciting pursuit, do heed my words of caution. The realm of cryptocurrency is a turbulent sea swayed by volatile tides. Therefore, invest only what you can afford to bid farewell to, ensuring your financial well-being remains intact.
Make Your First Cryptocurrency Purchase on Gerino
Why Gerino, you should probably have that question in mind. It’s because Gerino favors new buyers. Now most new investors lose their money in the crypto market because they invest and trade without knowledge.
In the influence of some YouTuber or telegram group. That’s a wrong approach. With Gerinos copy trading feature, you can copy the strategies of experienced investors and traders directly into your account. And if any loss occurs to you during the trading, you can use Gerino’s Zero loss feature, where an experienced trader helps you to regain your losses.
It’s continued; Gerino has; the most significant educational and new update portal related to the world of digital assets. Using this Crypto intelligence portal, you will learn crypto trading quickly.
Features of Gerino Exchange
1. Zero Loss Feature: Gerino understands that losses can occur in the volatile crypto market. To help mitigate potential losses, they offer a unique Zero Loss feature. With this feature, an experienced trader from Gerino’s team assists you in recovering any losses you may have incurred during your trading journey.
2. Crypto Intelligence Portal: Gerino provides a comprehensive Crypto Intelligence portal, which serves as an educational resource and a platform for staying updated with the latest news, market insights, and industry developments. This portal equips you with the knowledge and information needed to make informed trading decisions.
3. Secure Wallet Integration: Gerino prioritizes the security of your funds. They offer seamless integration with secure cryptocurrency wallets, both hot wallets and cold wallets. You can choose to store your digital assets directly within Gerino’s platform or transfer them to your preferred external wallet for added security.
4. Customer Support: Gerino values its users and provides dedicated customer support to assist you throughout your trading journey. Whether you have questions about the platform, need technical assistance, or require guidance on trading strategies, Gerino’s support team is available to help.
Store Your Cryptocurrency Securely: Hot Wallets vs. Cold Wallets
Hot Wallets benefits and drawbacks
Hot wallets’ benefit is their simplicity of usage. Switching between the two is optional while carrying out a cryptocurrency transaction because they never go offline.
For example, many users use mobile hot wallets to trade or purchase crypto. To do this with a cold wallet would be awkward. You would need to transfer the required amount of cryptocurrency to a hot wallet before making your purchase, which you would then plug your cold wallet into.
Users that hold many cryptocurrencies will only sometimes keep most of them in hot wallets. Even though a hot mobile wallet differs from a traditional analog wallet in that aspect, carrying around a lot of cash is usually a bad idea. Like withdrawing cash from an ATM, you can send more cryptocurrency to your hot wallet as the amount falls.
Most trustworthy exchanges keep a sizable portion of their customers’ money offline in a network of cold wallets and then set aside a certain amount in hot wallets for withdrawals. Make sure to research the reputation of the exchange you intend to use if you intend to store a significant amount of Bitcoin online.
Cold Wallets: Pros and Cons
Generally speaking, cold storage wallets are very secure. Typically, a cold wallet and any PINs or passwords required to access the funds must be physically present in your hands or easily accessible.
Most hardware wallets — known as “cold wallets” — are kept on items that resemble small to medium-sized USB sticks. Paper wallets, actual bitcoins, and a second, offline computer used to store cryptocurrency are other options for cold storage wallets.
These processes are no longer widespread use, although they are still somewhat secure. They have been replaced by reliable, high-quality hardware wallets or extremely secure cold-storage solutions provided on reliable exchanges.
Hardware wallets include built-in anti-hacking safeguards. Depending on the storage method, the money stored on the drive is difficult or impossible to steal, even when a hardware wallet is attached to your computer or via Bluetooth.
Conclusion
Purchasing cryptocurrencies in India could initially seem complicated, but it can be a simple and lucrative process with the correct information, resources, and platform. In India, a user-friendly and secure option to buy and sell cryptocurrencies is provided through the new trading platform Gerino.
As the cryptocurrency market can be volatile, keep in mind to conduct your research and only invest money, you can afford to lose. After considering this advice and resources, you are prepared to begin your adventure into the fascinating world of cryptocurrency investment. Cheers to trading!
Original Source: https://medium.com/@gerino_coin/how-to-buy-cryptocurrency-in-india-a-beginners-guide-aba0c4e8eb81