Cryptocurrency and Blockchain will be a major part of the World Test Championship Finals. CoinDCX has been announced as the streaming and co-presenting sponsor of the tournament.
DCX is a Singapore-based company that specialises in crypto-enabled financial services, with its crypto-based products developing borderless financial services that ensure a faster, simpler, and uninterrupted flow of capital. People who are investing in cryptocurrency prefer to use it more than any other services and since it’s collaborating/sponsoring this years’ World Tournament Championship, cricket enthusiasts who are also become crypto- enthusiasts become excited to see this collaboration.
Cryptocurrency is a digital currency traded in a decentralised manner. In other words, cryptocurrency is not controlled or regulated by any government or group of governing authorities.
It is also a paper currency, however, we cannot use it in physical form like we use money in physical form. Cryptocurrency works on the principles of cryptography.
Cryptography is a method of keeping information secure by sending it in the form of code so that only those who have access to it can access it. This brings us to the point that cryptocurrencies are traded in code form and used for trading in the international market.
Some of the popular cryptocurrencies that are trending these days are:
Bitcoin – Bitcoin first hit the market in 2009 and since then the business world has taken a different path. It is one of the world’s first and most popular cryptocurrencies.
Litecoin – This cryptocurrency acts similar to the one bitcoin that hit the market in 2011, although it has a higher transaction rate.
Ethereum – This cryptocurrency was launched around 2015 with a unique feature of allowing the use of smart contracts and dApps which leaves little or no room for any glitches or scams.
Zcash – The Zcash cryptocurrency was first mined in late October 2016. As for Zcash, Silicon Valley capitalists were able to raise over $3 million to fund its development.
How to buy crypto?
Take a look at the cryptocurrency buying process and get ready to trade in the international market like a pro:-
Open a digital wallet – It is only through a digital wallet that you will be able to buy cryptocurrencies of your choice to trade goods and services in international markets without any interference from the government.
So here is the detailed procedure to invest using crypto-exchanges
Here is a step-by-step guide to fully investing in crypto across exchanges:
- Choose the appropriate crypto-exchange for trading
Select a suitable platform to open your account with a crypto exchange. You can register with crypto exchanges in India such as WazirX, CoinDCX Go, and BuyUcoin, etc.
- Get KYC done and choose the payment option
Getting KYC done is another essential step towards trading in cryptocurrency exchanges. Documents like PAN card, photo identity proof, address proof have to be uploaded to the exchange where you register for trading. This is done to reduce the scope of fraudulent practices in the future.
It is equally important to choose payment options for depositing and withdrawing crypto from your account. It is advisable to choose the payment option after checking the fee charges associated with each of them and that best matches your pocket.
- Placing trade orders
It should be traded that crypto can be traded 24/7, unlike stock market trading where the market is open a limited number of times. of hours. After your order is completed, crypto can be stored in the digital wallet, and/or you can even withdraw your money if you do not wish to store it in the digital wallet.