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When to Buy?
There is no hard rule when to buy your favorite cryptocurrency. But one must research the market stability. You should not but at the peak of a cryptocurrency bubble or when the price is crashing continuously. Always best time is considered when the price is stable relatively at a low level for some time.
Cryptocurrencies Storage Method
Before buying any cryptocurrency one must understand how to keep your cryptocurrency safe.
Generally, all the exchanges provide the storing facility where you can keep your coins safely. One must not share their user details, password, 2FA when you hold cryptocurrency on exchanges.
Paper Wallet, Hardware wallet, Software wallet are some of the channels where one can store their cryptocurrency.
Paper Wallet: Paper wallet is an offline cold storage method to keep your cryptocurrency. It prints your private and public key on a piece of a paper where QR code is also printed. One has to just scan the QR code for their future transactions. Why is it safe? No need to worry about the hack of your account or attack of any malicious malware. You just need to keep your piece of the paper safe in a locker and if possible keep two to three pieces of paper wallet all in your complete control.
Hardware Wallet: Hardware wallet is a physical device where you keep cryptocurrency safe. There are many forms of hardware wallet but commonly used hardware wallet is USB. When you keep your cryptocurrency in hardware wallet you just need to keep in that mind that you should not lose your hardware wallet as once it is lost you can not retrieve your cryptocurrency.
One famous incident, where a person as mined 7000+ bitcoin and stores in their hardware wallet and kept it with another hardware wallet. One day he threw the hardware wallet in which he stored his cryptocurrency instead of damaged hardware and he lost all his bitcoin.
What can buy from cryptocurrencies in India?
Most of the people assume that buying and selling of any cryptocurrencies are just for the investment and getting the high returns on a long and short-term. Influencers and bitcoin investors are believing that in coming years Bitcoin will dominate all the fiat currencies and will be accepted as International currency.
Dell is one of the largest e-commerce business accepting bitcoin as payment. Expedia and UNICEF are other examples.
In India, Sapna Book Mall was accepting bitcoin as payment using Unocoin merchant service. People were booking movie tickets through BookMyShow or recharging their mobile using Unocoin platform. As per the report, they have stopped the service but planning to start again in near future.
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