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What is the best cryptocurrency to invest in right now?
6 min readNov 16, 2024
There is no such thing as best or worse especially when you deal with crypto. However I would suggest some methods/ formula whenever you are entering this field and keep some points of caution in mind .
This is going to be long, but if you are serious about it , be patient and read it all. I am trying to be exhaustive here because I want people to know each and every aspect and invest accordingly :)
First let me get to the points of caution :-
- Never get greedy and put all your money in crypto. Put max 10–20% of your portfolio even if you get very high returns.
- Keep track of your investments(except 1 scenario which I will mention below 1st point in formula). Don’t invest in crypto if you want to forget it/ if you see /check your portfolio after 2–3 days. It needs constant attention (unlike mutual funds for eg)
- Avoid FOMO — just because someone else is investing doesn’t mean you also need to invest. It doesn’t work like that, everyone’s journey is different.
- Be alert of news of ban/ regulation of crypto in India but Till then don’t be afraid and make use of it as it’s not illegal at all right now. Also if there is any. Ban, they will give you appropriate time to put your money in bank(hopefully!!). Also be prepared to pay tax for any returns you get(don’t try to bypass it)
- Don’t use your salaried account for transactions(I believe it’s best all these apps shouldn’t…