The crypto landscape is constantly unfolding. we’re still in the early days of development, people interested in cryptocurrencies continue to educate themselves about this asset class.

Despite being an unregulated sector, lakhs of investors are joining the bandwagon and aggressively buying such assets. What’s more amazing is the advent of digital universes like Decentraland that just take this space to a new level.

The high inflation rates in India along with the restrictive and non-streamlined modes of investment presented a golden opportunity for visionary entrepreneurs to set up cryptocurrency exchanges in India.

Most crypto exchanges have an intuitive and easy-to-use User Interface (UI). These crypto exchanges also offered almost no annual maintenance charges (AMCs) and a much lower trading fee.

With 24x7 availability, minimal design, and potentially sky-high returns on investment for any individual - crypto exchanges boomed. To start trading, you will need to set up an account and you can invest as little as Rs100 to begin with.

Download the app or log on to any crypto exchange website.

Fill in the details to open your account and finish your KYC.

This allows you to set up the account and add funds in INR (rupees).

Once you have added funds to the account, you can start buying cryptocurrencies from the “Exchange” tab. There is a whole range of cryptocurrencies available on the exchange.

Choose the amount of cryptos you want to and enter ‘Buy’.

After purchase, the coins can be viewed from the “Funds” option. To purchase, you can leverage Indian Rupee (INR), Tether (USDT), WazirX token (WRX), and more.

Selecting right crypto exchange

WazirX, UnoCoin, CoinDCX, and CoinSwitch Kuber are popular cryptocurrency exchanges in the country. However, the trading fees vary from platform to platfrom. We, at Moneycare, aim to reduce transactions by maintaining our investments not only on Indian platforms but also on foreign reliable platforms like Coinbase. This helps in balance the various service charges associated and also reduce the risks with any single platform or country jurisdictions.

Although it is easy to start a trading account, there are some complexities as the sector is still evolving. There are frequent changes in the laws governing such transactions and exchanges. Banks also don’t like the crypto space (they feel as if the funds are better in their hands) and they limit or prohibit such transactions. We are regularly dealing with such changes on a daily basis and thus we are in a better position to serve you better.

Transferring funds from your account can be challenging considering the portfolio size is considerably big. Banks have a love and hate relationship with crypto, so some banks may allow transactions while some other banks may not allow it. PSU banks generally prohibit such transactions. Even after the transfer is done, since most Indian crypto exchanges allow direct buying of a few crypto coins in INR. For buying smaller or newer coins, you generally need to convert INR to USD, which would incur a conversion fee. Although it’s a small fee, it may be a big amount considering large portfolios.

We love to research, devise and build a profitable plan for you in the equity and derivatives market. Similarly, we are in the process of doing the same in the crypto asset space. Whether you are into Altcoins, NFTs or the mammoth Bitcoin, you may be spoilt for choice or a bit anxious about crazy dips. We also feel the same and we are determined to fix such scenarios for you.

Well, we both know that crypto is a digital asset. However, digital wallets are as secure as your desktop or mobile devices. We offer hardware wallets where you can store all your crypto assets safely. You may also keep it in a locker for added security.

The crypto market is full of speculations. Tweets and tricks rule the conversations. We, at Moneycare, also follow such trends but we take decisions based on logic and facts and not on the basis of Musk’s tweets. We also take investors' education seriously and share educational resources from time to time