What will be your answer if I ask you, “do you want to be rich?” You probably think that I am crazy, and your answer is an obvious yes. But I am asking this question only because it was easy to answer. Similarly, getting wealthy is also easy now. The key is an investment. Suppose you can take the risk. Nobody can stop you from reaching the absolute top. Of course, you need a thorough knowledge and a sense of the ups and downs of the market.
Nothing is served in your dish when it comes to money. It is best if you put in mental and physical efforts. People have been investing in stocks and shares for decades. A lot of people lost everything. Even their houses While some people had a piece of perfect knowledge and the will to risk everything to become rich, and they gained hundreds and thousands of dollars through this.
While stocks and shares have been in the markets for years and will continue being there forever, something interesting apart from these came out. It was known as cryptocurrency. Coin ownership records of all the individuals are stored in a ledger, a computerized database based on strong cryptography to maintain data privacy, control the creation of additional coins, and verify the transfer of coin ownership.
A cryptocurrency or crypto is a collection of binary data designed to work as a medium of exchange. Because they are neither backed by or convertible into a commodity, cryptocurrencies are considered fiat currencies. Token owners keep their tokens as collateral in a proof-of-stake arrangement.
Instead of it, they get to own the token in proportion to their stake. Moreover, the token holders’ ownership rights increase with time given their freshly created tickets, networking commission, or other compensation mechanisms.
Cryptocurrency is not issued by a regulatory body and does not exist in tangible form (like paper money). However, unlike the central bank’s digital money, cryptocurrencies often use decentralized control (CBDC). A cryptocurrency is deemed centralized if it is manufactured before being issued or if a single issuer issues it. Crypto is implemented with decentralized governance; it uses distributed ledger technology, often a blockchain, which serves as a public financial transaction database.
Bitcoin Is the first decentralized cryptocurrency, first released as open-source software in 2009. Many other cryptocurrencies have emerged after the launch of bitcoin. Over 13,000 various cryptocurrencies are bought and sold publicly. Cryptocurrencies continue to be popular with initial coin offerings, or ICOs, being used to raise funds.
On October 22, 2021, all the crypto valued more than $2.5 trillion, down from an all-time high of $2.6 trillion just days before. The overall market value of bitcoins, the most widely used digital money, was estimated to be around $1.2 trillion. based on the CoinMarketCap, analytics firm and cryptocurrency statistics the top ten trading cryptocurrencies by market capitalization:-
- Bitcoin is worth $1.1 trillion.
- $497.6 billion in ethereum
- Binance Coin is valued at $81 billion.
- Tether is worth $70.1 billion.
- Cardano is worth $66.4 billion.
- $59 billion Solana
- $49.7 billion in XRP
- Polkadot is worth $41.6 billion.
- Dogecoin is worth $41.2 billion.
- $36.5 billion SHIBA INU
Now, If we talk about a particular place, crypto differs. For instance, if we talk about the USA, it’ll always be Bitcoin. Just like that, if we talk about a smaller country, crypto investments vary due to different conditions. Turkey is such a country. Cryptocurrency has been banned in turkey. Turkey at the time was such a country, which was booming due to crypto. However, the unfettered cryptocurrency explosion in Turkey has suddenly been greeted with an immovable object: the state’s long arm.
While regulatory engagement in the rapidly evolving field was expected, government officials moved quickly to put the industry under their control in a couple of weeks. Like many others across the world, Turks have flocked to bitcoin, seeking to profit from the cryptocurrency’s bull run over the previous year while protecting their funds from inflation, which peaked at over 17% in April.
Turkey’s central bank (CBRT) issued legislation on April 16 to prohibit the use of cryptocurrencies as payment for goods and services, citing the potential for “irreversible” harm and considerable transaction risks. Due to the move, companies that handle payments and electronic fund transfers will be unable to perform transactions involving cryptocurrencies. The ban was put into effect on April 30. On the other hand, investments were not considered illegal because Turkish exchanges could still facilitate the exchange of cryptocurrencies for various assets, such as digital and fiat currencies.
If you want to invest in crypto in Turkey, these are the best cryptocurrencies you can invest in:-
Coinmama is a user-friendly cryptocurrency exchange where you can buy a limited number of virtual currencies or even buy bitcoins. It was the first crypto exchange to accept credit card purchases, and it caters to newbies with a simple and user-friendly website. Beginners who want an easy way to acquire crypto with GBP, USD, EUR, or other fiat money can keep or utilize it for trading on different cryptocurrency exchanges.
Simultaneously they can benefit immensely from the Coinmama cryptocurrency exchange. However, the transaction limitations on Coinmama are more significant than those on many competitors, and your limit increases as you buy more on the platform.
The following are the limits based on your verification level:
After their identification has been validated, and every user begins here. Over 50 orders, the monthly buy/sell cap is $15,000 per month.
After purchasing $2,400 in cryptocurrencies through the exchange, you become eligible. Over 50 orders, the monthly buy/sell maximum is $50,000.
You can apply once your Level 2 maximum of $50,000 in monthly transactions has been reached. Over 50 orders, the monthly buy/sell maximum is $100,000.
CEX.IO was one of its kind that facilitated clients in making fiat-to-crypto transactions by accepting online transfers and debit/credit card payments. They currently offer a wide range of trading options for Bitcoin, Tron, Stellar, Bitcoin Cash, Ethereum, Litecoin, Ripple, and other virtual currencies. These coins are exchanged for RUB, USD, GBP, and EUR.
CEX.IO has transformed into a consortium of firms with licenses in multiple jurisdictions during the last few years. The Financial Crimes Enforcement Network (FinCEN), a U.S. Department of the Treasury division, has registered CEX.IO LTD as a Money Services Business (MSB).
Bitpanda was established in 2014 in Vienna, Austria, to make investing more accessible to the general public. Its mission has been to rethink its support by creating simple, user-friendly financial products for everyone. As a result, Bitpanda is now one of Europe’s fastest-growing fintech, with over 500 employees and 3 million users after seven years. They make it easy for both first-time investors and seasoned specialists to invest in what they believe in, thanks to a PSD2 payment service provider license, cutting-edge security, and a streamlined user experience.
Their easy-to-use, trade-anything platform allows you to invest in stocks, cryptocurrencies, and precious metals with any amount of money you have.
Paybis is a cryptocurrency exchange that allows users to buy Bitcoin and other cryptocurrencies using a variety of payment methods, including debit and credit cards, instant bank payments in the United Kingdom and Europe, local bank payments in the United States, and SWIFT USD for international clients.
In addition, the exchange supports over 50 local currencies in 180 countries. 48 U.S. states are also covered in its scope. Paybis does not keep track of its users’ money. Thus they are always in charge. Finally, the U.K.’s Financial Conduct Authority (FCA) awarded Paybis a temporary crypto-asset registration, letting it operate in the regulator’s territory while its suitability for a permanent license is assessed. The FCA’s recommendations and regulatory framework aim to avoid illegal activity in the crypto-space and promote a secure trading environment to promote cryptocurrency adoption.
SatoshiTango is a bitcoin exchange that allows users to purchase and sell bitcoins online. Users in Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, and Peru can pay by international wire transfer or local payment methods.
SatoshiTango also allows users to request a Visa debit card, which they can use to shop online or at over 25 million retailers worldwide. Mariano Craiem and Matias Bari founded it in 2014.
Binance is a cryptocurrency exchange. Now Binance is the world’s most significant daily cryptocurrency trading volume. It was founded in 2017 and is located in the Cayman Islands. Binance Coin users are offered low transaction costs on the Binance Exchange as an incentive. In addition, other cryptocurrencies, such as Liteclin, Bitcoin, and Ethereum, etc., are traded for BNB.
Kraken is a U.S.-based bank and a cryptocurrency exchange created in 2011. Kraken is available to 48 U.S. states and 176 countries as of 2021, and it offers 72 cryptocurrencies for trading. Participants can purchase and sell cryptocurrencies with various fiat currencies, such as U.S. dollars, Canadian dollars, euros, and Japanese yen. In addition, popular virtual currencies such as Ethereum (ETH) and bitcoin (XBT) are available on the Kraken exchange, as well as newer virtual currencies such as EOS (EOS) and Monero (XMR).
Remitano offers an escrowed peer-to-peer crypto online marketplace for virtual assets exchange. Users can trade cryptos using either crypto or fiat money on the forum. Remitano also serves as a secure space for investors to connect with other investors on the Remitano network.
The Escrow service from Remitano provides a secure environment for the Remitano network to conduct secure inter-trade. Remitano is a global money transfer service founded in 2016 by Babylon Solutions Limitead and is headquartered in St Vincent and the Grenadines. Bitcoin, Litecoin, Bitcoin Cash, Ripple’s XRP Ethereum, and USD Tether are currently supported by the Remitano platform for deposit and withdrawal.
Fiat currencies like Malaysian Ringgit, Indian Rupee, Nigerian Naira, Venezuelan Bolivar, Indonesian Rupiah, Vietnam Dong, etc., are all fiat currencies that Remitano allows to deposit and withdraw.
Cryptocurrency is ruling the digital investment world in today’s time. But, according to experts, the best advice anyone can give you is to jump and think of what can happen later if you are confused about investment.