Crypto FAQs

Tanishq Wadhwani
May 3, 2021
2 min read

#1 How to get started with investing in crypto?

1. Ask yourselves why crypto and not any other asset?

2. Research on which crypto to invest in?

3. Sign up on an exchange which has those cryptos.

4. Try to buy them at the lowest possible price.

5. Trade/Hold.

#2 Why Crypto?

1. Timing- We are living in one of the best times to invest in crypto! Bitcoin recently surpassed the 1T$ Market Cap in much less time as compared to Big Tech Stocks and Gold validating cryptos as serious investments. With Ethereum and other promising projects on their way, we are just in the right time to invest in crypto.

2. Decentralisation- Every rupee that you invest in crypto is a vote towards a world free of Monopolies and Tyrants.

#3 Best Exchanges to use?

WazirX and Binance

1. Load INR on WazirX from your bank account.

2. Buy USDT

3. Transfer USDT to Binance for free.

4. Trade/Hold on world's greatest exchange- Binance.

Referral Links:

Binance: https://www.binance.com/en-IN/register?ref=RN25JM7O

WazirX: https://wazirx.com/invite/cb8bk8et

#4 Minimum money to get started?

Time for some math

Min amount of money required to buy min amount of any crypto ~= ₹50

Transaction Fee ~= ₹6

Thus, you can start experimenting with as low as ₹56

#5 How much loss do we have to face before earning?

You can very well be profitable from day-1 itself, there are no compulsory losses as such.

#6 Which Cryptos to invest in?

Only invest in projects you truly understand. If you have no idea how a crypto project is going to impact the world, don't invest.

#7 Trading v/s Holding?

Trading- Buy when the market is down and sell when the market is up. Let's say you buy a crypto at $36 and trade it at $42 making a profit of $6.

Holding- Buying the crypto at $36 and waiting till it goes way above- $360/$3600.

The catch- The crypto you sold at $42, it's never going back to $36.

Thus, hold for most times.

Only trade when you are playing with small money you won't mind losing and the project is like $DOGE.

#8 What if Cryptos get banned in India?

To "Ban proof" your crypto, use multiple exchanges based in other countries (For eg Binance based in US). To actually ban crypto any tyrant would have to practically burn down the world so don't let the ban paranoia stop you from investing in crypto.

#9 Do I need to know about Candlesticks to get started?

No.

#10 What is Blockchain- the tech behind Crypto?

It's a shared immutable ledger making it almost impossible for anyone to pull off a financial scam.

#11 Will you invest my money?

No sorry, I will do whatever I can to help you out but I won't invest the money for you because:

1. Taxes and stuff- I have my personal investments too

2. I want to keep this activity innocent and not adulterate it with target of returns (Vese hi bhot bhasad h zindagi me, aur nhi chahiye)

#12 Bonus

1. Any blindly borrowed financial advise is bad.

2. Crypto Investment advise from Non Blockchain Developers are worse.

3. Financial Advise from Elon still tops the list.