Bitcoin broke 60k$ per BTC in terms of value while many are still in denial. Now, if We consider 30% crash as a significant crash, It has crashed violently many times in the past.
Now, When You are thinking to make an account and invest in crypto. It is quite indeed possible, that Bitcoin can go up to 1 million$ per BTC (Do not laugh as You read because those who were laughing when BTC was at 1$ are not laughing today.) as well as it can also crash 90%.
That’s the focus point –
It is possible because It happened multiple times in the past.
Now, as a coin has two sides. It also has another side. There are multiple streams of revenue in cryptocurrencies because – Nature makes high-risk bets as high rewarding too! (Robbing a bank is a high reward job!)
Leverage: As cryptocurrency is not regulated, the exchanges offer tremendous leverage like 125x.
Commission: The commission is literally 0 in many places because exchange earn from many other avenue than brokerage.
Stake: This is new age fixed deposit which high annual returns.
Suppose You have 1000 INR. Reliance is trading at 2000 INR. You can not buy or sell Reliance with 1000 INR because there is no leverage.
But what If You short 10 quantities of Reliance with a maximum loss of 1000 INR? You can short till Reliance reaches 2100 INR right?
Similarly, If you are allowed to long 5 quantities of Reliance, then You can hold till Reliance reaches 1800 INR.
This level of micro leverage trades where both sides are allowed makes an avenue of a completely new type of trading ecosystem within a defined risk.
Liquidity Provider: You can become a liquidity provider for this pair by adding assets to the liquid asset pool. The liquidity provider can enjoy the transaction fee (i.e. brokerage) income of users in the pool.If You’re holding BTC and ETH both anyways, this is like risk-free income on top of that!
Investing in BTC and ETH is already considered an ultimate risk. What is “more risk” than that is new coins. Try to stay in the coins having the highest market volume. Now, coming to the coins which are considered an even greater risk. They will have even more weird offerings. Like –
This is like an IPO listing of a coin named “Alice”.
Anyways, We discussed few products, and trust me – This is just the tip of the iceberg. You will be amazed to see the versatility of the options and products as You move forward in your journey.
When We discussed crypto exchanges last time, I opted for Wazirx. Binance was not allowing their P2P method back then. Now, Wazirx is acquired by Binance.
Binance offers more products and services, has higher liquidity, less fees. In short, Wazirx is inferior product.
Investing 5000 INR into a basket of Cryptocurrencies using Binance –
Unofficed has partnered with Binance. I’ve developed different trading bots, telegram bots, risk management algorithms, auto investment apps for Binance for the outside markets. I will soon brand them and port them to the Indian Community.
If You sign up through Unofficed, You get a 10% brokerage kickback for a lifetime as well as access to the products when launched.
So, let’s talk about how the money transfer really works here.
Deposit – Suppose I want to buy 50 USDT. (or 50 ETH, any cryptocurrency)
Note: Seller’s cryptocurrencies are always locked in the exchange while the order is getting processed. So, You have no risk of losing money. In a dispute, You can produce a screenshot/video/proof in the chat section which will be validated by the Binance team in the worst case.
Withdrawal – Same process as a deposit.
Taxation of India –
The bank transfers here will look like few random guys are sending random money to each other. There is no sign of “Crypto” anywhere.
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