Frequently Asked Questions
Cryptocurrency is a digital or virtual currency that is decentralized, encrypted, and mostly based on blockchain technology. It’s a peer-to-peer system that allows two individuals to send and receive payments anywhere around the globe. In general, they are not issued by federal or state authorities.
Bitcoin is the first cryptocurrency which is created in 2009. It is not only the cryptocurrency but thousands of currencies are present in the market. A bitcoin is not like a physical coin or something like a physical currency. It is just a digital asset that can be stored on a crypto wallet and sometimes on an exchanger.
No. you can not get a bitcoin free of cost. But you can earn bitcoins by completing tasks on websites or you can buy bitcoins on various exchangers with a minimum fee.
You can buy a bitcoin or a fraction of it in India through crypto exchange(e.g Wazirx Binance, Coindesk, Zebpay, etc) platforms using various payment methods which are available on that platform. Here is the list of top crypto exchanges platforms available in India.
After buying a cryptocurrency it is on you whether you keep this on the exchanger or you can transfer it to a certain crypto wallet (e.g Trust Wallet, Metamask, sollet, token pocket, etc) and then you can send and receive through it. Here is the step-wise process to create a wallet.
First, you need to learn about how the crypto market works ( without knowing about it can cause a loss) and then, create an account on a crypto exchange platform. After that choose the crypto coin in which you want to trade and then open, monitor, and close your position
.As a decentralized, public technology, blockchain technology behind cryptocurrency is inherently secure. Also, a single transaction needs 2fa in which you need to enter authentic code which is only available on your 2fa app or sent via text to your cell phone. Every transaction is encrypted through the use of distributed ledger technology, which is decentralized and public.
Cryptocurrencies works on a distributed public ledger known as Blockchain. In which there is a record of all the crypto holders and all the transactions made by them. Through the process of mining units of cryptocurrency are created.
No, Blockchain is the technology on which the cryptocurrency is based. Bitcoin is the first and most well-known cryptocurrency. Cryptocurrency is the medium for exchange, such as the Indian Rupee.
An NFT, which stands for Non-Fungible Token is a digital piece of art that represents real things like art, music, In-game items, videos, etc. In other words, an NFT is the unit of data that is stored on the blockchain.
AN NFT is a digital ledger that is created by developers, for an NFT to have great value must be unique. It also uses blockchain technology it can be sold and traded like cryptocurrencies. Each digital file can be authenticated using a digital signature that tracks NFT ownership.
You can buy or create your NFT if it is unique you are going to earn a lot. It can also be bought and sold like cryptocurrencies but it has marketplaces other than exchangers which include the process of authorization. Once your NFT is authorized from the owner’s side now you can sell it.
Yes, you can mint an NFT for free there are a lot of companies that offers bounty program where you can mint their NFT for free or with minimal network charge. You can find more details about free crypto and NFTs in our Airdrop section.
If you own an NFT then after authentication you can list it on marketplaces. the person selling an NFT can mint it through sites such as OpenSea, Digital eye, Solea, etc. After minting the NFT, one can list it on any of the sites for sale. Similarly, you can buy an NFT through the digital marketplaces mentioned above.
You can determine whether an NFT is authentic by asking its owner. You could follow the ownership and original artist's social media profiles to see if NFTs have been announced Or if the owner has provided the details of his NFT to digital marketplaces then you can verify through those marketplaces and can list it for selling.
NFTs are not new but it is said that it is a newly famous digital asset. In CryptoKitties, a digital trading game built upon Ethereum's cryptocurrency platform, people could buy and sell unique, on-chain virtual cats. As the Ethereum network, there is Solana and Binance smart chain available too.
Airdrops are a method of trading cryptocurrencies. Additionally to investing one's own money, one can make a great deal of money by participating in an airdrop, which involves giving out free coins or tokens to those with a public crypto wallet so a new virtual currency can be promoted. By reading our Airdrop section you can earn a lot without investing a single rupee.
Basically, it involves sending newly launched cryptocurrencies or tokens to the wallets of existing cryptocurrency traders, either for free or in exchange for promotional services(Like, Tweet, join telegram, groups, etc) To spread awareness and increase ownership of the cryptocurrency startup, an airdrop is being offered.
To spread popularity and increase ownership of newly launched tokens, the crypto companies give tokens for free.
You need to perform some tasks like joining their telegram groups, retweeting tweets, or sometimes referring a friend on social media. After doing the task you need to provide your address of the wallet to receive the token. You can learn more by reading in our Airdrop Section.