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The crypto market took the world by storm in 2021, paving the way for the masses to enjoy solid returns. From Bitcoin to Dogecoin, there are thousands of cryptocurrencies out there. If you are an Indian investor investing in the crypto market, the numerous cryptocurrencies can sometimes be overwhelming, making it challenging to select the most profitable ones.
While many Indian investors have good knowledge about the growing crypto market, there is still a need to keep up with the latest crypto updates. After the recent market crash around China’s crypto ban, the crypto market is still recovering.
However, the market dip has caught the attention of Indian investors and sceptics, creating good investment opportunities. But, cryptocurrencies are highly volatile, and it is difficult to predict future market trends. To avoid losses, you have to analyze the different cryptocurrencies and select a reliable cryptocurrency exchange in India. WazirX is one of the most trusted and reliable crypto exchange platforms where you can buy and sell different crypto tokens. Here is a list of 7 top crypto coins in India that you can buy in January 2022.
Top 7 cryptocurrencies to invest in India in January 2022
To make sure your crypto investments are profitable, we have listed 7 promising cryptocurrencies that you can buy and hold for good returns in January 2022.
1. Bitcoin (BTC)
Of course, Bitcoin is the most popular and the first-ever cryptocurrency, with a market capitalization of more than nearly $883 billion. Bitcoin is an excellent investment for investors who believe in its potential with every market dip. The current price of bitcoin as of 5 January 2022 is ₹36,75,802. If you want to know how to buy bitcoin in India, then here is the answer – Crypto exchange platform WazirX provides ease of purchasing and selling bitcoin for Indian investors.
2. Ethereum (ETH)
The current price of Ethereum as of 5 January 2022 is ₹36,75,802. If you are looking to invest in a popular cryptocurrency or feel like you missed the bus with Bitcoin, Ethereum is an excellent option for investment. It has the potential to grow in the future, making it one of the best cryptocurrencies to purchase in India.
3. Dogecoin
Dogecoin, also known as the meme-coin, rose to glory being a mere elaborate joke when Elon Musk spoke about it. Following Elon Musk’s comment on Dogecoin, the value of the cryptocurrency went up ten-fold times. The current market value of Dogecoin as of 5 January 2022 is around US$ 22 billion. The current price of Dogecoin stands at ₹13.4146, making it a cheap and viable option for long-term investment. Dogecoin has become one of the top promising cryptocurrencies in India for Indian investors.
4. Cardano (ADA)
If you are looking to buy cryptocurrency in India, Cardano is one of the top cryptocurrencies you can buy. Cardano has experienced modest growth in comparison with other major crypto coins. In 2017, ADA was $0.02. In August 2021 – it was hitting above $2. We can say that Cardano is always on the top cryptocurrencies of all time, and it can be a promising investment for Indian investors. As of 5 January 2022, the price of 1 ADA is ₹104.7301.
5. XRP (Ripple)
XRP is a token by Ripple, which is a digital technology and payment processing platform. XRP is another popular cryptocurrency that came into the spotlight because of its ability to withstand market volatility. You can use XRP for exchanging crypto and traditional currencies such as dollars and the pound. Moreover, XRP is the first coin that several financial institutions accept for transferring and receiving payments. So, if you are looking to invest in cryptocurrencies, XRP is a good coin, and 2022 is a great time to invest as the rates are low compared to other popular digital currencies. As of 5 January 2022, the price of 1 XRP is ₹65.5604.
6. Polkadot (DOT)
Polkadot is relatively a new crypto-coin that first came in 2020. Polkadot works on the feature that allows independent blockchains to create decentralized applications and share information, making it a promising cryptocurrency in the coming years. As of 5 January 2022, the price of 1 DOT is ₹2,337.59.
7. Litecoin (LTC)
Litecoin came in the year 2011, following the footsteps of Bitcoin. LTC is an open-source project and a peer-to-peer cryptocurrency network behind Bitcoin’s original technology. LTC is the 21st largest cryptocurrency in the world in market capitalization, as of 5 January 2022. Litecoin can be a good investment for Indian investors, considering the low transaction fees, fast processing speeds, and impressive technology. As of 5 January 2022, the price of 1 LTC is ₹11,771.00.
Which crypto to buy in India?
Starting your crypto investment journey on a cryptocurrency exchange in India can be confusing considering the number of digital coins you can invest in, but we have listed the top 7 cryptocurrencies in India in January 2022, that can yield high returns in the coming years and are good investments options.
However, keep in mind that all cryptocurrencies are volatile, and it is not possible to predict the crypto market. Therefore, it is essential to analyze and research the best crypto investment options to enhance your portfolio.
Frequently Asked Questions
How To Invest In Cryptocurrency In India?
There are two ways of investing in cryptocurrency, mining and via exchanges. Cryptocurrency mining is the process of verifying and adding transactions between users to the blockchain public ledger. Purchasing cryptocurrency in India is a straightforward procedure where investors simply participate by registering with a crypto exchange such as WazirX. After registering for an account, citizens can trade multiple cryptocurrencies, store cryptocurrency in wallets, and more.
Can I Invest In Cryptocurrency?
Yes, with exchanges like WazirX, you may invest in cryptocurrency in India. To begin, go to the WazirX website and register. After that, you will receive a verification email. The link received by verification mail will only be available for a few seconds, so make sure you click it as quickly as possible. This will successfully verify your email address. The following step is to set up security, so choose the best solution for you. After you've set up the security, you'll be given the option of continuing with or without completing the KYC process.
Who Invented Cryptocurrency?
Satoshi Nakamoto invented cryptocurrencies and the technology that makes them function in 2009. The presumed pseudonymous individual or persons who invented Bitcoin used this identity. In addition, Nakamoto created the first blockchain database. Even though many people have claimed to be Satoshi Nakamoto, the person's identity remains unknown.
Which Cryptocurrency Is Best To Invest In 2021?
Many altcoins are flourishing to invest in. Some cryptocurrencies with great potential are Ether, Ripple, Tron, and more. Investors are trying to diversify their portfolios and are flocking to the leading cryptocurrencies. Many growing businesses are already accepting cryptocurrency as acceptable payment methods.
Is crypto legal?
Crypto is legal in most countries, including India. While nations like the U.S. and many in Europe have regulatory frameworks, others like China have strict bans.
How To Invest In Cryptocurrency?
There are two ways of investing in cryptocurrency, mining and via exchanges. Cryptocurrency mining is considered the procedure of verifying and adding transactions to the blockchain public ledger. Another option is via cryptocurrency exchanges. Exchanges generate money by collecting transaction fees, but there are alternative websites where you can interact directly with other users who want to trade cryptocurrencies.
Is Mining Cryptocurrency Legal?
Cryptocurrency mining can be time-consuming, expensive, and sporadically profitable. Mining has an appeal for many cryptocurrency enthusiasts as miners are paid directly with crypto tokens for their efforts. The legality of cryptocurrency mining is dependent on where you live. In India, there is no restriction on crypto mining.
Is Crypto Legal In India?
Cryptocurrencies are legal in India, and anyone can purchase, sell, and exchange them. It is currently uncontrolled, as India lacks a regulatory structure to oversee its operations. Per the Ministry of Corporate Affairs, companies must now record their crypto trading/investments within the financial year. In cases where a person receiving the gains is an Indian tax resident, or the cryptocurrency is regarded as domiciled in India, cryptocurrency transactions have been taxable in India
How Many Cryptocurrencies Are There?
There are over 5000 other digital currencies available on the internet in addition to Bitcoins. The only problem is that they haven't gotten the users' attention. Besides Bitcoins, a few other digital currencies have gained popularity among users. It's been more than ten years since Bitcoins were first released, and now they've achieved new heights thanks to their phenomenal success.
What Is The Meaning Of Crypto?
A cryptocurrency is a digital currency that is secured by the process of cryptography, making counterfeiting and double-spending almost impossible to happen. Blockchain technology is used to produce cryptocurrencies ( a distributed ledger enforced by a distributed network of computers). Cryptocurrencies are distinct in that a centralized authority does not issue them.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
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