Investing in cryptocurrencies is a risky affair. But, if you play your cards well, you may incur decent gains. All you need is understanding how the crypto markets work. I
n an interview with Money9, Aishwary Gupta, Research Analysts at B&B Analytics talks about how to invest in cryptocurrencies. He sheds light on various types of cryptocurrencies and key things to analyse before you zero in on a cryptocurrency. For example, the crypto world is divided among three types – stable coins, utility coins and governance coins.
“One should understand the use-case behind a cryptocurrency. The demand and supply economics and what are social sentiments around it are two other key aspects to look at before you invest in a coin. Communicate within the community and see what different people are talking about the coins you are interested in,” says Gupta.
He advises to create a portfolio of cryptocurrencies diversifying between stable and risky coins. Starting a monthly or a fortnightly SIP is a convenient and safer way to invest in cryptos, he adds.
Loan Against Mutual Funds Vs Redemption!
What things you need to keep in mind before before taking Gold Loan?
Is your income tax verification notice real?
Why did the government succumb to pesky calls?
