The best strategies are carefully planned and if you want to dabble in cryptocurrencies, then you first need to decide whether you really want to buy the underlying asset e.g. Bitcoin, or whether it suits you better to invest your time and money into crypto CFDs and derivatives.
A specific crypto platform India is not something you will find easily, leaving you with two potential solutions, using cryptocurrency exchanges allows you to buy and sell almost any cryptocurrency of your choice. Alternatively, you can buy or sell privately through one of several P2P networks. Although you will pay a commission for using an exchange, this is generally a more secure and trustworthy option.
Many of you will most likely opt for trading crypto derivatives through a broker and there are many to choose from. However, if you are constrained by Shariah law, your choices are slightly more limited. On that note, most operators provide a free demo account, which will include a crypto platform, India permits the use of such facilities, but if you move on to trading with a live Islamic account, the spreads will be different.
For anyone trading highly volatile assets like cryptocurrencies, you must always have a robust strategy in place, which includes implementing orders such as Stop Loss and Take Profit, as well as using leverage wisely.
There are two different considerations here. If you intend to buy cryptocurrency, India insists that you make cash purchases only. You are not permitted to use direct transfer from your personal bank account to a crypto exchange for example. The same restrictions apply to using bank-associated credit or debit cards for this purpose. By searching carefully, you will find that some crypto India exchanges do accept payment using pre-paid debit cards, PayPal, or similar digital services.
Although not yet prevalent in India, a new ‘crypto booth’ service is available in some major cities, including Delhi. These facilities appear similar to an ATM, but are dedicated solely to financial transactions relating to cryptocurrencies. Although seeming very convenient, there are downsides – they only accept cash, not all cryptos are available and there is a commission fee of 8% per transaction.
For those of you intending to trade derivatives only, the situation is far less constrained. Most operators offer a good variety of options to fund your trading account, including BACS, debit card and a variety of the most popular local e-wallets. If having multiple ways to finance your trading is important to you, always check out this aspect before signing up.
Gone are the days of being tied to a desk for investors, mobile trading is very much the new normal, with more adults now using mobile devices to perform everyday activities than those relying on fixed-devices like PCs or Macs. With a crypto platform, India can enter a whole new world instantly. All you need is a suitable smartphone or tablet and a reliable Wi-Fi or network connection.
Almost every crypto exchange and brokerage recognises this immense technological breakthrough and provides a crypto platform India can also use as a native mobile app, every bit as secure and detailed as the main website. Also, there are also various apps for crypto mining.
If you are someone that relies heavily on the use of a mobile device in the way we have described, then please check out the authenticity before considering the download of any crypto-related apps to your most important means of communication.
Although mobile availability for brokers, crypto wallets and exchanges is a subject we cover in our reviews, we cannot test every app for every device. However, in our extensive experience we can say that most of our crypto reviews indicate that apps are generally available for Android and iOS devices, less often for those using Windows Mobile OS and rarely for Blackberry devices.
Signals are vital to anyone who trades in a volatile asset and crypto trading is proven to exhibit even more likelihood of rapid and sensational market changes than any other. Having a reliable, accurate signal service means you are instantly made aware of any changes in the market, as well as receiving buy and/or sell recommendations.
Having prompt, accurate information is essential in this marketplace and receiving signals you can rely on is a big part of that. Signals are a service which when set up correctly, can help you to avoid losses and perhaps most importantly, give you the best chance of maximising your profits.
If you search the Internet you will see that there are hundreds of different signal services on offer specifically for crypto India trading purposes. Many of them are free, whilst others either require an up-front payment or a monthly subscription.
Do bear in mind that signals are worthless unless you have sufficient bandwidth or network strength to receive them promptly, which is something to think carefully about if you are going to be reliant on them to guide your investment decisions.
There is little doubt that cryptocurrencies are one of the most volatile financial products currently available to trade. That is one reason why we always pay close attention to any political or economic announcements that are likely impact the market and report on them in our News section.
However, as a trader, you should always aim to keep updated with any news relating to the economy, particularly so the global stock markets. What is happening in the world of politics is another subject that some investors have a habit of neglecting, but again an upset in the political world, or even a random Tweet by a public figure, can have a sensational result in the world of cryptocurrency.
Although not all of our News articles will be directly related to crypto India, read them every day alongside our buy cryptocurrency India guides. After all, knowledge is power and no more so than for cryptocurrency investors.
One part of the many services we provide for our website visitors is an interactive overview of the top ten cryptocurrencies. Displayed in a fast-view table format, you will see the vital key metrics for each of the cryptos, including the current price, any changes that have taken place in the preceding 24 hours (displayed graphically), the change as a percentage (up or down) and the market cap.
The information you view is updated every second, so is therefore always up to date and highly relevant. The default view is in order of trading prevalence, but you can change it to suit your own needs if you wish. We highly recommend that you check this feature at least once a day and always before you enter any type of investment scenario.
It is always worth a visit to our News section as well. There you will find reports on any crypto-related events our eagle-eyed team have spotted during the course of their day. You will see that we have mentioned news and updates many times, in the hope that this really emphasises the fact that you need to know what is happening, at all times, in the crypto markets, but especially when you are actively trading.
As we mentioned earlier, operators who offer big bonuses are often doing so to attract the attention of new clients, but by the time you have examined the terms and conditions surrounding a bonus, it is of little value. This is particularly apparent for the traditional ‘Welcome’ type of bonus and inevitably, the operator reclaims any giveaways by charging higher fees or commission.
That said, there are many operators that go out of their way to look after and retain clients based on their trading history and/or portfolio balance. Special offers may include reduced fees, upgraded account facilities or free software. There are also some with ongoing promotions that include provision of a specific account type or crypto platform India and its financial institutions will approve of.
With the current legal acceptance of this relatively new financial product, our latest reviews feature the best cryptocurrency to invest in 2021 and within them we always set out to ensure that all offers and bonuses are acceptable and legitimate. For you, this means that we have already sifted through all of those lengthy T&Cs, so you don’t need to.
When our panel of experts completes a review of either a cryptocurrency, crypto brokers or other related services like cryptocurrency exchanges they undertake to examine and test (where applicable) multiple aspects of that facility. The criteria vary according to whether the crypto reviews concern a currency, a broker, or another aspect like crypto mining.
By breaking our reviews into sections, we find that our readers gain far more value from them. Perhaps your main concern is the security of Bitcoin wallets? Or simply finding the best cryptocurrency to invest in cryptocurrencies? For either of those subjects we have created detailed guides and reviews you can browse at your leisure.
Our broker reviews cover vital aspects relating to the operation which include licensing, customer support, mobile availability, security, available assets and more. We test wherever possible and check out T&Cs related to fees and bonuses available.
Our guides to crypto exchanges are collated along similar lines, starting with the security of the website itself and any mobile apps. We provide detailed information on the cryptocurrencies the site has available and we carefully review every aspect of fees and commission costs you might encounter.
Even if it is not immediately relevant to you, we also urge you to read our guides on other subjects relating to crypto India subjects. These include extensive reports on crypto mining opportunities, the best crypto wallets for India and reviews on some of the most entertaining places where you can enjoy spending your cryptocurrency.
As this site is all about cryptocurrencies, then we are certain your first question will be is crypto currency legal in India? Well, we are pleased to assure you that in 2021 it certainly is and in recent times court decisions have confirmed that fact. However, because India does not operate its own licensing system, this can cause additional concerns for would-be cryptocurrency traders.
Before you consider embarking into the world of cryptocurrency, take a little time to understand the subtle differences between cryptos and fiat currency. One of the main reasons people are sceptical is because cryptocurrency is entirely digital. It is created from extremely complex blockchain codes, stored in a secure database and has no ‘physical’ form. However, it really is no different from viewing your savings account online, you know the money is there, you don’t have to have it piled up in front of you to prove that it exists.
Within the crypto market, as well as the ever-present favourites, there are a number of niches, including PVTs and specialty currencies. There are definitely some highly lucrative trading opportunities within them, but by the same token, they are considered high-risk propositions and are not available from all brokers.
On that note, when seeking an offshore broker, it is still safe to say that some operators are a little reticent about accepting Indian clients, but do not be deterred by perceived cryptocurrency regulations, India now actively encourages all types of financial investment by its citizens, including crypto trading.
If you are planning to buy cryptos, it should be noted that cryptocurrency exchanges in India are required to be regulated by a financial authority, with the majority now opting for Estonian jurisdiction. These events have only come to light over the last 6 months, so as yet it is unclear how effective an Estonian licensing board will be.
Alternatively, those of you taking the route of trading crypto CFDs do not have the same concerns. Our crypto reviews indicate that a correctly licensed broker, under regulations enforced by a Tier-1 authority, always ensures that online security and the safety of your investment are prioritised.
Four of the most highly recommended licensing authorities are the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the Malta Financial Services Authority (MFSA).
Our aim here is to answer some of the most common questions on subjects that are important to potential crypto buyers or traders. The list is not exhaustive, nor is it intended to provide you with any financial advice. Our sole intention is to supply you with knowledge on all aspects of cryptocurrencies.
Cryptocurrency is just as legal as any fiat currency in the world. The major difference is that cryptos are de-centralised and therefore not under the control of any financial authority. Also, they do not have a physical presence like coins and bank notes; they are a purely digital phenomenon.
Although India does not have its own licensing authority, it is perfectly legal for you to trade cryptocurrency derivatives using an offshore operator. Reading our crypto trading guide will give you an overview of offshore licensing and how to choose a broker.
The numbers of options are increasing daily, with some forward-thinking retailers now accepting crypto wallet payment. Investment brokers are other of the possibilities.
No, it isn’t possible to buy cryptocurrency using a trading platform. You will need to use one of the many crypto exchanges India specialises in to buy or sell any type of cryptocurrency.
Crypto derivatives are a way to trade cryptocurrencies without buying the currency itself. In a similar way to Forex, you are making an informed decision or prediction about the rise or fall in prices within a given period. Due to the upsurge in their popularity, many global brokerages now offer a crypto platform India’s Islamic religion permits.
No, you only need a crypto wallet if you want to buy and sell coins. You can also use it to spend cryptocurrency that you already own. Some retailers now accept crypto purchasing, as do a number of sportsbooks and casinos.
Unfortunately, even the best products have their negative aspects. For cryptocurrencies, the main ones are a lack of governmental backing and an overall poor perception of digital currency. There is also the lack of reliable crypto exchanges and the high commissions associated with buying or selling.
As a general guideline, if you are trading crypto derivatives, then it is considered a short-term investment, with ‘turbo’ trades lasting 60-90 seconds – a favourite of the day-trading community. However, if you are buying a crypto, then your investment is more likely a medium to long-term opportunity.
Our panel of experts has reviewed every aspect of the 2021 crypto trading scene. Not just the currencies, but also crypto mining, exchanges and brokers offering crypto derivatives for Indian traders. Take a look at some of our in-depth guides here at TradersBest.com.
There are several cryptos currently attracting the attention of young investors in India, who want to buy the cryptocurrency itself, rather than trading in crypto derivatives. Based on that, we have reviewed all of the trending cryptos and you can take a look for yourself here at TradersBest.com.
The answer really depends on whether you intend to buy cryptocurrency, or trade in crypto derivatives. Investing in cryptocurrencies is trending highly in India and you can find all the latest information on buying cryptos using our guide to crypto exchanges here at TradersBest.com.