Tuesday, November 28, 2023

An Insight into the Crypto Market

Every individual must have a decent investment in genuine assets which give decent returns over the time. A mainstream source of income is never enough to meet all your needs and wants, it is for this reason that you must as well have some side source of income to meet your needs. 

What could be better than investing in assets. Unlike a liability an asset is meant to provide you profit over the time. Earlier, the stock market was the only preference of the general public whenever it came to making investments. However, as of now we do have an alternative to that, a new investment market, the Crypto market.

Introduction of a new investment market

Crypto market, an all-new investment market came into existence after the launch of the first cryptocurrency, the Bitcoin in 2009. Crypto market eventually grabbed the hold of the investors ever since. People started investing in cryptos because of its popularity, and the short period in which it gives really promising results. All you need to do is use a platform and open a crypto wallet where all your cryptos would be stored and then purchase a cryptocurrency. 

When you purchase a crypto, it is reflected in your portfolio which is basically a domain of your investment. In your portfolio you would receive a proper insight related to your investment and in this way, you can keep a record of prices of the currencies you have bought, this is called crypto portfolio management on the basis of which you keep record of your cryptos and do the transactions accordingly.

How does the Crypto market work?

Cryptocurrencies are digital currencies which have now more than ever gained popularity and pace and have hence occupied the minds of the investors. There are many currencies available in the market which you can buy and sell whenever you see fit. All that you need to do is use a platform and open a crypto wallet, all your cryptos would be stored in that wallet. Once you sell a cryptocurrency you receive the amount in your wallet which you can later withdraw directly in your linked bank account. 

But before you sell your crypto you need to ensure that it is running in profit, for which you need to track your portfolio. Your portfolio is the total summarised report of the currencies you have purchased and the best way to track crypto portfolio is by using a proper platform which offers ways to track your portfolio. 

Binocs is the one stop destination for all your needs related to crypto currencies. You can monitor your portfolio and calculate the tax amount you would be charged when selling your crypto. You would simply have to integrate your crypto wallet with Binocs and they would do the rest for you. From portfolio management to tax calculation and receiving suggestions on making better investment decisions Binocs does all your work for you. So, why bother yourself with all the hectic planning and calculation just merge your wallet with Binocs and enjoy the joy of crypto trading with Binocs.