Which cryptocurrency can I invest in India for 2018?

in #quora7 years ago

I will answer in parts:

  1. You can invest in any cryptocurrency from India for 2018, UNLESS bitcoin & other cryptocurrencies are banned in India in 2018, which is very unlikely to happen.
  2. You should listen to all the answers in this question, but follow only those who are backing their claims with the facts rather than fiction
  3. I won’t suggest you particular names of cryptocurrency, rather I would like to help you to find it yourself. If you are interested, please follow :)

So, before investing, you need to understand certain things like it is not regulated, it is highly volatile, it is anonymous, there are no chargebacks (and all other negative stuff, but it is important for your safety).

If you are still reading, then the best coins are below:

  1. First decide what amount do you want to invest. I am asking this as deciding this at first is very crucial. Some people tends to have trouble when they are investing and usually invest more than what they intended.
  2. Now go to CoinMarketCap.com and:
    • Check the first 10 coins, these are high volume ones and these usually contains the main 4 primary ones like BTC, ETH, LTC & XRP. Invest 1/4th part of your coin in here.
    • Check the rest top 20 coins, and check their motive, their team, ask yourself, whether they have a good cause and is blockchain required for this. If yes, invest 1/4th part of your coin in here.
    • Now invest the pending 1/4th of your money in new ICO where the same above filter is to be used.
    • After all this, you will have 1/4th remaining. Keep that as BTC/ETH. This is used to average out the loss (if any). Say you bought a coin at 10 satoshi, now it is down to 5 satoshi. So, you buy at 5 satoshi, so that your breakeven will come down to 7.5 satoshi.

Hope this helps you somehow.

If you like, do upvote :)

Source: https://www.quora.com/Which-cryptocurrency-can-I-invest-in-India-for-2018/answer/Shebin-John-4

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