Want to invest in Cryptocurrency? Know the basics about Bitcoin, Ethereum and Cardano

tech.hindustantimes.com:

Have you invested in any cryptocurrency? Ideally, it should be a part of your asset allocation strategy as well as for diversifying risk. However, do not forget that it is one of the riskiest assets to invest in. As can be seen, it is running in huge loses and any entry should be carefully considered and experts should be consulted before doing anything. RBI has so far frowned on anything associated with crypto. So, in case you are planning to invest in any of the cryptocurrencies and are confused about which one you should pick then you can consider this. Before starting, you need to know what a cryptocurrency is. 

Cryptocurrency is a digital currency secured by cryptography and can be used as a form of payment. According to the Reserve Bank of India (RBI), the defining characteristics of cryptocurrencies are- they are decentralized systems where transactions are authenticated by participants themselves by consensus. They are anonymous and borderless that is, they work over the internet without any physical existence. That is where all the risk lies. Also Read: Apple AirPods Pro vs Sony WF-1000XM4 vs Sennheiser Momentum TWS 3: After Review, we pick our WINNER

RBI further in the month of February 2022 informed that, until 5 years ago, total market capitalisation of all cryptocurrencies was only USD 20 billion (February 2017). This went up to USD 289 billion in February 2020 and thereafter exploded to reach a peak of USD 2.9 trillion in November 2021. As of February 09, 2022 it stands at USD 1.98 trillion. Bitcoin accounts for 42% of this market capitalisation, the top two cryptocurrencies account for 61% while the top five account for 71%. The total number of cryptocurrencies is at 17,436 and the total number of crypto