Cryptocurrencies remain one of the most interesting and potentially profitable investment options, so it should not come as a surprise that millions of people from all over the world look for promising tokens to buy. Crypto is very popular in India now, but there are several national peculiarities that affect how it works there, and you should understand them very well before investing. In this article, we explain the most crucial pros and cons of investing in crypto in India and give you the top 3 coins to consider.
Pros of investing in India
Even if you don’t want to know how crypto actually works, it’s pretty obvious that now is the good time to buy crypto: the prices are down across the entire market, but they are ready to grow back. Crypto is inherently volatile, but it’s extremely secure and independent from the government, so you can invest in it to hide your money in a safe way. Moreover, crypto is a great option to resist inflation, and it gains more popularity with each passing year, making it a nice payment method, too.
Cons of investing in India
However, some people may look at these pros and actually consider them cons. Lack of regulation by Indian financial authorities is good when you want to hide money, but it can become a problem if your investments get stolen. And if the government decides to tighten the Indian cryptocurrency laws, it will be a blow to the entire market that may affect the prices. Now, there are all kinds of scams in India, so you should be extremely careful when choosing a coin to buy. Here is the list of the top 3 safe options.
The second most popular crypto in the world, ETH is also extremely popular in India. It’s user-friendly, accepted by many companies as a payment method, and has many applications which make it quite promising as an investment.
Bitcoin is a perfect choice for novice crypto investors. While it doesn’t have some of the advantages of Ethereum, it’s very accessible and has powerful built-in mechanisms that allow it to remain valuable in the long term, making BTC a great and secure investment.
Another popular cryptocurrency, Dogecoin can be considered pretty unstable, so it’s a somewhat risky investment. However, it has great potential for growth, so even a small amount of DOGE bought today can bring you a fortune in a couple of years, just don’t spend all of your money on it.