Cryptocurrency has become the investment vehicle of millennials in India. About 60% of the millennial investors from the tier-2 and tier-3 cities in India are already into investing in the cryptocurrencies. The market is growing exponentially and is expected to touch $240 million approx. in the coming decade despite the fact that its regulation work is still ongoing.
If you are a new entrant in the cryptocurrency investment market, here is a list of the best cryptocurrency companies in India that you can consider:
- Bitcoin
The pioneer of the start of the Cryptocurrency revolution in the world, Bitcoin remains the top favorite among the coins. Its functioning philosophy is based on peer-to-peer dealing. The product brought along with it the concept of blockchain.
Anonymous trading, unalterable and date-stamped transactions and unregulated space made blockchain a thing of love and hate among investors. Currently, the Bitcoin value trends anywhere near $46,000.
- Binance Coin
Binance Coin is the cryptocurrency as well as the best cryptocurrency exchange in India. This coin is issued by Binance Exchange.
It runs on Ethereum Blockchain and offers a payment mode for payment of fees. Binance is a tradable coin and you can trade it for other cryptocurrencies like Bitcoin and Ethereum.
A few important facilitations provided by the Binance Coin include trading, fee payment, etc. Some travel companies provide the option of booking tickets using Binance. In Jan’ 22, the Binance coin was trading at $530 approx.
- XRP
XRP is the coin rolled out by Ripples, a global payments network. Using XRP as a facilitator, the traders can mine different cryptocurrencies by converting one into another. This facilitator allows currency conversion and helps user send money in any currency or cryptocurrency of the choice.
XRP entered the cryptocurrency companies in India market in 2017 with its value pegged at $0.006. It has registered a growth of about 13,000 plus percent and trades now at $0.83 approx.
- Ethereum
Ethereum, like Binance, offers both the cryptocoin and the platform. It is a favorite among developers owing to the scope of enrichment it offers. The investors searching for the best cryptocurrency exchange in India can consider Ethereum for their endeavors and enjoy the distributed ledger convenience it offers.
Ethereum was launched in 2015 and registered a massive growth owing to the underlying security. The current value in 2022 stands at $3,700 whereas it was only $11 in 2016.
- Cardano
This cryptocurrency company has its native coin ADA. The company claims to have designed more advanced alternative to Proof-of-Work network.
It facilitates smart contracts and other applications that work in a decentralized manner. It is one of the best performers in terms of returns as the coin has delivered about 6,600% growth in the price.
These are the five best cryptocurrency companies in India. The investors are drooling over the profits that these promise and deliver too. With more than 100 million worth of investments made in the cryptocurrencies in India, it is too big an elephant to ignore.
