List of Cryptocurrency in India: A cryptocurrency is a form of digital currency. “It is a collection of binary data which is designed to be anonymous and secure. Cryptocurrency works on the model of Cryptography wherein data is converted into codes,” explains Gaurav Dahake, CEO & Founder, of Bitbns, a leading cryptocurrency exchange in India. Taxing cryptocurrencies does not give them legal status in the country, finance minister Nirmala Sitharaman clarified in the Parliament. It’s the country’s sovereign right to tax cryptocurrency transactions. list of private cryptocurrencies in india
एक क्रिप्टोकुरेंसी डिजिटल मुद्रा का एक रूप है। “यह बाइनरी डेटा का एक संग्रह है जिसे गुमनाम और सुरक्षित होने के लिए डिज़ाइन किया गया है। क्रिप्टोक्यूरेंसी क्रिप्टोग्राफी के मॉडल पर काम करती है जिसमें डेटा को कोड में परिवर्तित किया जाता है,” भारत में एक प्रमुख क्रिप्टोक्यूरेंसी एक्सचेंज, बिटबन्स के सीईओ और संस्थापक गौरव दहाके बताते हैं। क्रिप्टोकरेंसी पर कर लगाने से उन्हें देश में कानूनी दर्जा नहीं मिलता है, वित्त मंत्री निर्मला सीतारमण ने संसद में स्पष्ट किया। यह क्रिप्टोक्यूरेंसी लेनदेन पर कर लगाने का देश का संप्रभु अधिकार है list of cryptocurrency exchanges in india
List of Top 10 Cryptocurrency in India
From Bitcoin and Ethereum to Dogecoin and Tether, there are thousands of different cryptocurrencies, which can make it overwhelming when you’re first getting started in the world of crypto. To help you get your bearings, these are the top 10 cryptocurrencies based on their market capitalization or the total value of all of the coins currently in circulation.
- Market cap: Over $846 billion
- Created in 2009 by someone under the pseudonym Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.
- Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy a Bitcoin for about $500. As of March 1, 2022, a single Bitcoin’s price was over $44,000. So that’s a growth of about 7,800%.
- Market cap: Over $361 billion
- Both a cryptocurrency and a blockchain platform, Ethereum is a favourite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).
- Ethereum has also experienced tremendous growth. From April 2016 to the beginning of March 2022, its price went from about $11 to over $3,000, increasing more than 27,000%.
- Market cap: Over $79 billion
- Unlike some other forms of cryptocurrency, Tether is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favoured by investors who are wary of the extreme volatility of other coins.
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Binance Coin (BNB)
- Market cap: Over $68 billion
- The Binance Coin is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world.
- Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Now, it can be used for trading, payment processing or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin.
- BNB’s price in 2017 was just $0.10. By the beginning of March 2022, its price had risen to around $413, a gain of approximately 410,000%.
- Market cap: Over $37 billion
- Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies.
- At the beginning of 2017, the price of XRP was $0.006. As of March 2022, its price reached $0.80, equal to a rise of more than 12,600%.
- Market cap: Over $34 billion
- Terra is a blockchain payment platform for stablecoins that relies on keeping a balance between two types of cryptocurrencies. Terra-backed stablecoins, such as TerraUSD, are tied to the value of physical currencies. Their counterweight, Luna, powers the Terra platform and is used to mint more Terra stablecoins. Terra stablecoins and Luna work in concert according to supply and demand: When a stablecoin’s price rises above its tied currency’s value, users are incentivized to burn their Luna to create more of that Terra stablecoin. Likewise, when its value falls compared to its base currency, this encourages users to burn their Terra stablecoins to mint more Luna. As adoption of the Terra platforms grows, so too does the value of Luna.
- From Jan. 3, 2021, when its price was $0.64, to the beginning of March 2022, Luna has risen over 14,200% to $92.
- Market cap: Over $33 billion
- Somewhat later to the crypto scene, Cardano is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification present in platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which are powered by ADA, its native coin.
- Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA’s price was $0.02. As of March 1, 2022, its price was $0.99. This is an increase of 4,850%.
- Market cap: Over $33 billion
- Developed to help power decentralized finance (DeFi) uses, decentralized apps (DApps) and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. SOL, Solana’s native token, powers the platform.
- Market Cap: Over $22 billion
- Polkadot (DOT), founded in the year 2016, is a unique blockchain interoperability protocol designed to connect different chains together. It also allows exchanging data and processing transactions for parachains, or parallel blockchains without compromising their security. Developers can create their own blockchains while using the Polkadot security.
The core founder of Ethereum, Gavin Wood created Polkadot. The exciting feature of DOT is that it has no hard limit on its total supply. Rather, a new token is constantly in circulation.
- Polkadot’s price reached its heights in May 2020 at $6.30 and later in May 2021, the price hit its all-time high of $55.11. list of a cryptocurrency ban in india
- Market Cap: Over $9 billion
- Litecoin (LTC), an open-source blockchain project launched in 2011, was created by former crypto exchange Coinbase software engineer Charlie Lee. It was one of the initial cryptocurrencies whose code imitated Bitcoin’s. Despite the fact that it has similarities with Bitcoin, it is developed to have a faster transaction confirmation time. It can be used as an avenue for paying people around the world without a mediator. So LTC is frequently considered as “silver to Bitcoin’s gold.”
- Litecoin has a total round-off supply of 84 million tokens. In May 2021, it recorded its lifetime high of $413.47 but it dropped by over 50%. So there are a growing number of merchants that undertake Litecoin. It has a per token value of around $106, the 21st-largest cryptocurrency in the world.
FAQs on List of Cryptocurrency in India
What are the 4 types of cryptocurrency?
The four major types include utility, payment, security, and stablecoins. There also are DeFi tokens, NFTs, and asset-backed tokens. Of all cryptocurrencies, the most common are utility and payment tokens.
Can I invest in cryptocurrency in India?
After choosing an exchange, you have to fund your account before you can begin investing in Bitcoin. Depending on the exchange, you can fund your account through bank transfers, net banking, Mobikwik, a cryptocurrency wallet or UPI.
Is it safe to invest in cryptocurrency?
Crypto held on an exchange or in a wallet is not FDIC-insured like money in the bank. So make sure you trade and hold your crypto on a platform that offers robust security measures — including keeping a significant amount of holdings in its own cold storage and two-factor authentication for users.
Are Bitcoin and crypto the same?
Bitcoin is the name of the best-known cryptocurrency, the one for which blockchain technology was invented. A cryptocurrency is a medium of exchange, such as the US dollar, but is digital and uses encryption techniques to control the creation of monetary units and to verify the transfer of funds.
Can I sell Bitcoin in India?
You can sell Bitcoin in India through the same platform that you used to purchase the cryptocurrency or peer-to-peer (P2P) exchanges like LocalBitcoins. So the latter allows you to sell the currency directly to the user, without a third party or intermediary. list of public cryptocurrencies in india
आप भारत में बिटकॉइन को उसी प्लेटफॉर्म के माध्यम से बेच सकते हैं जिसका उपयोग आप क्रिप्टोक्यूरेंसी या पीयर-टू-पीयर (पी 2 पी) एक्सचेंज जैसे लोकलबीटॉक्स खरीदने के लिए करते थे। तो बाद वाला आपको किसी तीसरे पक्ष या मध्यस्थ के बिना सीधे उपयोगकर्ता को मुद्रा बेचने की अनुमति देता है। भारत में सार्वजनिक क्रिप्टोकरेंसी की सूची