Cryptocurrency is a topic that is still not clearly understood even today by a vast majority of the world population. In India, the financial knowledge of what cryptocurrency is, how is it traded or even how it came into existence is still a mystery for many. Today, many of us have heard the words bitcoin, dogecoin, ethereum, ripple etc from various TikTok videos from the USA and other parts of the world.
The volatility of the cryptocurrency market makes it an easy win when things go well but a huge financial risk when it crashes. Millionaires have been made overnight while many have been rendered penniless in a fraction of a second.
The website Investopedia describes cryptocurrency as  “a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.”
The whole craze for cryptocurrency started with the launch of Bitcoin. Interested people had to go through a process known as crypto mining to generate the coins which were then sold on an “exchange” which is similar to the stock market. Many hardcore fans of the stock market have stayed away from the crypto exchanges because of the volatility of the market along with the lack of maturity of the exchanges making transactions very expensive. Being a new exchange the processes will also take a while to get formalised.
In between all this uncertainty, India too has been producing crypto millionaires of late. One of the newest members in this exclusive group is 30 year old, Jitindrann Nair from Kochi.
Read the full article at - https://thedailyvanilla.com/2021/09/22/indian-cryptocurrency-millionaire-reveals-secret-behind-his-investing-system/