Most Indians have diversified their portfolio for passive income. Indians explore many investment options including stock trading and cryptocurrency. This shift in the mindset may be due to the ongoing pandemic across the globe. Most economists and investment bankers have approved of the Indian growth market.
Understanding top 10 favorites of Indians
Cryptocurrency is a global phenomenon, and its popularity is only growing day by day. Before investing, check btc profit app and understand the top 10 favorite cryptocurrencies of Indians –
Bitcoin is without doubt the top favorite globally. This is undoubtedly the oldest and highest-valued cryptocurrency. The current capital marks up to 46% of investment across the globe. As of today, Bitcoin costs INR40lakh / unit.
Tether is a boon to persons who felt the crypto market is unpredictable. Since its launch in 2014, This cryptocurrency allows investors to experience blockchain networks. It also caters to key price increase and decrease. Tether is currently priced at INR 80 / unit.
Compared to its predecessors, Cardano is environmentally friendly. It deploys the process of energy-intensive mining. The platform is user-friendly. Cardano enables individuals, the government, and other organizations to run their financial applications on its network. Between 2020 – 2021, Cardano proved to be an effective investment option. As per studies, it is also considered the best bet for investors in 2022. Cardano is currently priced at INR 116 / unit.
Solana / SOL
Solana is popular amongst stakeholders working on decentralized financing (DeFi) platforms. Users need Solana cryptocurrency to undertake any trading activity. This compulsion also explains the real reason for its increasing popularity and cost. As of today, Solana costs INR 15, 500 / unit.
Ever heard of a cryptocurrency that became a meme joke! Yes, that’s Dogecoin for you. Dogecoin was first launched in 2013 and since its launch, this crypto has kept up a safe place for itself. Yet, there was a large increase and demand for Dogecoin in 2020. During 202, it entered the entertainment industry including sports and AMC theatres. Popular personalities vouched on Dogecoin compared to other cryptos in the market. In 2021, the price of Dogecoin estimates at INR 14.3 / unit.
Ethereum is yet another popular, and trusted currency in the crypto industry. In simple words, Ethereum is Silver in the investment market and it is not going to take your money away. It has revolutionized the usage of blockchain security. Ethereum became a trusted environment for new applications to run on its platform. Ethereum prices at INR 3lakh / unit.
Shiba INU / SHIB
SHIB is useful as an alternative to Dogecoin. Since it entered the industry, SHIB has been able to generate an 800% increase in its prices. Its’ current currency market performance is higher than its counterparts in the industry. Since 2020 the market value of SHIB has increased and costs INR 0.00428 / unit.
Also, known as Utility token is currently useful to most traders as a medium of exchange. It plays the role of an intermediate when there are no pairs of currency exchanges available. There is an upper limit of 1 billion tokens for use during a transaction. In case of any financial transaction beyond currency, then WazirX is your go-to option. As of 2021, WazirX costs INR 108.9 / unit.
Tron / TRX
Launched in 2018, Tron works on a decentral operating model. It works on an open-source blockchain operating system. It allows smart operating functionality. This crypto is being used in the entertainment industry. It allows for file sharing and direct transactions. From its launch in 2018 to today, the unit price of Tron is INR 7.4 / unit.
MATIC / polygon allows its users to reap the benefits of a cross-chain platform. It enables users to get the strength of many blockchains. There are many levels of communication within each of these platforms. Polygon is the best currency for investment in 2022 and is currently priced at INR 181.3 / unit.
To conclude, cryptocurrencies are gaining wide popularity amongst Indian generation investors. Popular personalities are becoming face to these investments making it yet another attraction.