Farmers’ investment in cryptocurrency is good, worth it. This post is highly recommended for farmers wanting to invest in cryptos confused for risk, legality.
Farmers should definitely invest in crypto currency and in the share market if they want to change their lifestyle in the next 10 years. A solid plan shared, a myth broken about the huge amount required to invest in crypto. How can farmers invest in crypto, a genuine source shared? STN followers will definitely get value with this post.
Do share your views in the comment box whether you want to invest in cryptocurrency or not.
Is farmers investment in cryptocurrency good or bad
Is it worth it to invest in assets like crypto when the government is putting a heavy tax on it? The answer is yes it is the right time.
Farmers should invest in cryptors as it is not banned in India and don’t need much money to start investment. You can create an online wallet or account withing Rs 1000 and start investing with Rs 100 to 1000 or more.
Buying and selling cryptos is similar to the share market and in crypto also you can hold for a long time or sell within a day, holding for a long time is the best investment. Good thing is all wallets offer liquidity which means you can withdraw your money to a bank account any time, the money will come to your account within 24 to 48 hours.
Do comment if you have ever invested in agriculture stocks. To enhance your knowledge read the related post that guides on investing in agri stocks in STN.
There are some myths in crypto that often confuses people. Let’s understand some myths and actual facts.
Myths
One of the biggest myths is people think they need at least 1 lakh to invest in cryptocurrencies, another myth is they think the government will not allow them to withdraw the money. They think crypto trading is a crime and banned in India. Let’s break all myths one by one.
How much money is required to buy 1 cryptocurrency?
When we talk about cryptocurrency most people think about Bitcoin and the confusion starts here. First you should know that crypto currency doesn’t mean only bitcoin. Bitcoin is only one crypto and there are 1000s of cryptos available.
At the moment it is very difficult to buy bitcoin because 1 Bitcoin price is floating around Rs 70 lakh. So don’t think about it. There are many other currencies that are in the starting phase as Bitcoin was in 2009-2010.
You can buy cryptocurrency within Rs 10 to Rs 100 as well. Yes, many good cryptos are under Rs 1 at this time. I am not promoting any coin you have to research about the currency. Cryptos like bittorrent is a file transfer protocol technology and its price is very low at the moment, you can buy many bittorrents with Rs 500 only.
So your doubt is clear that you don’t need Rs 70 lakh to buy the cryptocurrency and you don’t need to buy Bitcoin. As there are several different types of cryptos that may become expensive like Bitcoin in future.
Government will not allow crypto money to be withdrawn to a bank account?
This is absolutely rubbish that the Indian govt will not allow the money after selling crypto. If the government had banned crypto then they would not have put a 30% tax on crypto. If the government is taking tax on Crypto it clearly means that crypto is legal in India.
You may have watched an advertisement of Gautam Gambhir on television. Where he is encouraging people about investing in cryptocurrency through coindcx exchange. This ad cannot be telecast on television without govt permission, govt is allowing it.
So farmers don’t worry and invest in the currencies as per your pocket size.
From where to buy crypto?
Still most people don’t know where to buy the cryptos in India and farmers are way behind. Binance is the biggest cryptocurrency exchange in the world. It is a type of trading platform also called crypto wallet where you keep your purchases and sell cryptos.
So, don’t get confused between exchange and wallet, it is an exchange as well as wallet. You can directly purchase crypto by making your account in binance wallet.
Signup to Binance to get this limited deal where you will get free cryptos of some dollars in your binance wallet. Deal is for limited time and limited users so hurry up!
While making the account in binance exchange you will get the option to connect it with your Indian bank so that you can put money into crypto exchange and withdraw money to your bank account from the exchange.
Wazirx is an Indian crypt exchange founded by Nischal Shetty but at the moment facing some problems that might be fixed in future.
Can investing in crypto make farmers rich?
Yes, investment in any field with good research and consistency makes people rich. The percentage ratio is 85% for those who regularly invest in stock market SIP’s. First you should be clear about investment and trading.
Trading is buying and selling the crypto same day or within 2-3 days or within 2-3 months. Whereas investing is for the long term when you buy and hold the cryptocurrency for years 3 years, 5 years, 10 years and more. Do investment but wisely with good research and avoid trading.
Which money to invest in crypto?
Strictly advised don’t ever use your savings, daily life money, don’t borrow money and don’t take loans to invest. Instead of these you should use money that you ask for in parties, in eating fast food and coal drinks. Yes this much money is enough to invest in crypto be a regular investor and invest only that money which you are going to waste.
Conclusion – Conclusion is that not only farmers anyone in India can buy and sell cryptos. It is an asset which can make farmers or anybody rich in long term investment if they purchase wisely with good research. Always keep an eye on your asset and act accordingly.
If you liked this post, share your thoughts in the comment. Also tell, if you want to know how crypto can make farmers rich? How can farmers invest in cryptocurrency and share market?