Technology

Important fundamentals about the crypto market you must know about before you begin investing

A Crypto market is an investment market that deals in the exchange of cryptocurrencies. It has been in existence since the launch of the first-ever cryptocurrency, the BTC or the Bitcoin. The BTC was launched in 2009. Apparently, it was only 13 years ago that the crypto market came into being and it is overwhelming how the market outdid itself and took the investment markets by storm. As of now, there exist more than 20,000 cryptocurrencies. When investing in cryptos make sure to diversify your portfolio so as to maintain an overall balance in your investments, the best long-term crypto portfolio is the one that is properly diversified. 

What is cryptocurrency?

When talking about the crypto market it becomes important to make sure that there is a clear understanding of Cryptocurrencies. Cryptocurrencies are a form of currency; however, unlike conventional paper, plastic, or metal currencies, which are printed or carved and hence have a certain physical form; cryptocurrency is a digital currency and therefore has no sort of a physical form. When you buy crypto it is credited in your crypto wallet which is further directly linked to your bank account.

Fundamentals of the investment in the crypto market

Investors trade in cryptocurrencies digitally through crypto trading platforms, on these platforms as an investor looking forward to trading in cryptocurrencies you are supposed to open a crypto wallet, and then you can start trading. Once you buy a cryptocurrency, it is reflected in your wallet and is stacked and organized in your portfolio. Your portfolio is basically a summarised report of all your investments arranged in one place.

In case you are wondering how to track crypto portfolio I would like to bring it to your notice that you need not worry yourself with all the tracking. There are such platforms available out in the open which would do the task for you and not just the portfolio tracking you can also use one of these platforms to do all your tax calculations. 

Tax calculation too is one of the important fundamentals of investment, you are charged a certain amount as a tax on the profits you make by selling out tour cryptocurrency, so you must do all the calculations before actually selling your cryptos such that you can have a proper insight of how much would you have to pay as a tax and how much you would earn for yourself.

Binocs is one such platform that can be seen as your one-stop destination for all your crypto requirements. With Binocs you receive wise financial advice that will help you make better and wise investment decisions, tax calculations, crypto portfolio tracking, and all other features that you need for ensuring the utmost profitability from your investments. All you need to do is integrate your crypto wallet and Binocs would do the rest for you. So, if you truly wish to invest in cryptos and are looking forward to becoming an active investor, Binocs is a must-have amenity on your list. Invest right, invest wisely with Binocs.

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