Now that the ban on cryptocurrencies has been lifted by the Supreme Court of India on March 4, 2020, there is a wide range of cryptocurrencies, being favored by the crypto enthusiasts in India, apart from the renowned Bitcoin. But before investing, you need to follow the market trends, and that particular cryptocurrency, which you intend on buying. You have to keep in mind, that the market is volatile, hence an investor must be able to bear risks when he is investing. But, once the cryptocurrency value increases, you can either sell it or withdraw it, as per your convenience. You need to understand thoroughly how to buy cryptocurrency in India. You need to figure out the best bitcoin exchange in India and get started with your trading.
Bitcoin has always been on the top, maintaining its status in the crypto space as per the Bitcoin India review. BTC is the oldest and the most popular cryptocurrency ever, with the highest demand amongst the global cryptizens. As the Bitcoin supply is scarce with 21 million, of which only around three million are left to mine, it is considered as an asset for Bitcoin investment in India. Bitcoin is that one cryptocurrency that people are aware of, if not totally into it. BTC has the highest adoption rate across the world as compared to others. This is the best cryptocurrency to invest in 2020.
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After Bitcoin, Ethereum is the second-largest cryptocurrency and probably one of the promising long-term altcoins available. Founded in 2017, Ethereum has been a popular choice among enterprise clients as it can integrate smart contract protocols into its blockchain. Ethereum has been showing high signs of volatility and is almost touching the $200 mark. This is one of the best cryptocurrency in India in 2020.
Ripple is the third-largest cryptocurrency, having great demand by the Indian users, as XRP is the hot choice for the go-to blockchain for banking and financial institutions. XRP can be used as an intermediary in the future for quick transaction-processing times and cross-border partnerships.XRP has great potential for future achievements; hence it can be fruitful for return on investment as per the cryptocurrency news India.
Litecoin is the world’s first open-sourced P2P altcoin that has maintained its positional consistency by market capitalization. Litecoin is forked from Bitcoin and is the seventh-largest cryptocurrency in the world. It enables near-zero, instant cost payments to anyone in the world. Improved storage efficiency and faster transaction confirmation times make it one of the most favored cryptocurrencies by the users in India.
Binance is not only one of the world’s leading cryptocurrency exchanges, but it owns one of the popular coins, too- Binance Coin (BNB). BNB falls under the top 10 cryptocurrencies in the world by market cap. Binance has high liquidity and one of the assets which are superior in cryptocurrency trading. BNB offers great prospects in the long run as it increases steadily at times of turmoil, too.
We have mentioned the top cryptocurrencies to invest in India. You can choose as per the various specific factors.
It is safe and legal to invest in cryptocurrency in India.
All the top 5 are high potential cryptocurrencies, so you can choose as per your feasibility and choice.
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