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We’ve seen many well-known companies like Apple, Google, Tesla, Samsung, Facebook, and more, including cryptocurrencies in their plans. As of 23rd June 2021, the global crypto market capitalization and volume are at $1.3T. The cryptocurrency market has also exploded in India, with around 10 million Indians investing in crypto.
These digital coins have become a long-term store of value for many. New investors wonder how to buy cryptocurrency in India. For people who believe that cryptocurrencies will be the future norm and want to earn high returns in the process, here are twelve cryptocurrencies that you can add to your financial portfolios.
- Bitcoin (BTC)
Bitcoin, the first in the cryptocurrency market, was created in 2008. It is also the most prominent cryptocurrency in terms of market capitalization. The decentralized digital currency can be sent via a peer-to-peer Bitcoin network from one user to another. Running on Blockchain Technology, this cryptocurrency has seen price rise and fall and yet dominated the market. The high liquidity of bitcoin will benefit traders as long as it exists regardless of market conditions.
- Ethereum (ETH)
Ethereum’s decentralized software platform allows Smart Contracts and Decentralised Applications to be designed and function without third-party intervention. Ethereum is widely used for the creation and exchange of non-fungible tokens and Initial Coin Offerings as well. Vitalik Buterin, the leading developer of Ethereum, co-launched it in 2013. It also made him the youngest billionaire in the cryptocurrency market. After Bitcoin, Ethereum is the second-largest cryptocurrency in terms of market capitalization.
- Litecoin (LTC)
Litecoin was launched in 2011. It was among the first cryptocurrencies in the market after Bitcoin. Often referred to as the silver to Bitcoin’s gold, it was created by Charlie Lee, an MIT graduate and former engineer. Even though Litecoin is similar to Bitcoin in many ways, it has a faster block generation rate which offers faster transaction confirmation time. There are growing numbers of merchants that accept Litecoin as a mode of payment as well.
- Cardano (ADA)
Charles Hoskinson created the cryptocurrency network on similar lines of Ethereum for smart contracts. He was one of the founding members of Ethereum who left Ethereum to develop Cardano. Launched in 2017, ADA is a non-profit digital currency, which runs on the technology called Ouroboros.
- Polkadot (DOT)
Another Ethereum co-founder, Gavin Wood, collaborated with Robert Habermeier and Peter Czaban to create Polkadot. They aim to create and connect decentralized apps, utilities, and organizations via Polkadot’s network. In addition, their website assures data and identity security for ultimate user control.
- Ripple (XRP)
Launched in 2012, Ripple is a cryptocurrency, payment exchange system, and a network called RippleNet. It is built for digital payments, and they promise a faster and efficient way to ensure global payments. They also allow third-party developments for other uses of XRP. If you want to know more, and potentially invest in Ripple, you can read this blog on how to buy Ripple.
- Uniswap (UNI)
Through smart contracts, Uniswap’s protocol allows automated transactions between cryptocurrencies on the Ethereum blockchain. Moreover, its developers promise the good riddance of unnecessary intermediaries for enhanced user control.
- Dogecoin (DOGE)
Billy Markus and Jackson Palmer, software programmers, wanted to make fun of the cryptocurrency speculations. Thus, they created this meme cryptocurrency. Though it was created for satirical purposes, this token can be a worthy investment. Also, you can read this blog on what is dogecoin and how to buy dogecoin in India
- Binance Coin (BNB)
Binance Coin runs on Ethereum technology. The BNB token was launched by the world’s largest cryptocurrency exchange platform Binance. It can be used as a discount token to pay fees on Binance Exchange or fuel in the Binance Smart Chain.
- WazirX coin (WRX)
WazirX’s utility token is called WRX. For the circulation of the 1 Billion WRX tokens, Binance Chain (Binance’s blockchain) is used. By purchasing WazirX coins, users can continue to help build WazirX and receive rewards as well. In addition, WRX allows the coin’s early adopters with incentives like fee reduction and more perks.
- Bitcoin Cash (BCH)
Bitcoin Cash holds an important place in the history of altcoins; BCH began its life in August 2017 due to a split from the original chain of Bitcoin. Since the Bitcoin network has a 1 megabyte (MB) limit on the size of the blocks, the BCH hard-fork was implemented to increase the block size from 1 MB to 8 MB, which will allow the blocks to hold more transactions within them. It also would increase the transaction speed.
- Stellar (XLM)
Stellar was founded by Jed McCaleb, who was a developer of the Ripple protocol. It is an open blockchain network designed to provide enterprise solutions by connecting financial institutions for large transactions. The system allows cross-border transactions between any currency. Stellar’s currency is called Lumens (XLM).
Why should you choose WazirX?
WazirX is a cryptocurrency exchange in India, which lets you buy, sell and trade numerous crypto assets like Bitcoin, Ethereum, Ripple, Litecoin, etc. The platform is accessible on our website, Google Play Store, Apple App Store, Windows, and Mac OS. WazirX is highly secure, has superfast KYC, lightning speed transactions, simple and practical design, excellent customer service, and more features. So if you are a new investor or professional trader, WazirX has got you covered!
This is not an investment advice. Crypto investing is high risk activity and User should do their own research including obtaining appropriate professional advice before taking any investment decision.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.