Investment in cryptocurrency has proved itself to be the best investment of past decade prices of bitcoin and ethereum have increased more than 100 times in last five years alone.

Some of you might be concerned whether it is legal to invest in cryptocurrency. Especially if you reside in certain countries like india back in 2018 rbi banned all regulated entities like banks from involving in any activities related to cryptocurrencies a decision. Which was packed by supreme court in 2019 government of india also considered making buying selling or holding cryptocurrencies illegal.

But as of today it is legal to buy hold or sell cryptocurrencies decision of rbi was overturned by supreme court in 2020 nonetheless the situation is dynamic and some of you might decide to stay away from investing in cryptocurrencies.

But don't worry in this article i am going to discuss certain ways, in which you can benefit from the tremendous growth in value of cryptocurrencies both directly and indirectly.

Which might be a preferred option for many of you considering the dynamic legal scenario. So let's get started in most cases you need to buy your cryptocurrencies from dedicated cryptocurrency exchanges such as coindesk or binance.

Typically you need to store your cryptocurrency in cryptocurrency wallets. A cryptocurrency wallet is nothing but a software program that holds both private and public keys to connect you to the blockchain.

Where your cryptocurrency there are two types of ones what walnuts cold warnings i will discuss them in detail in future articles where i will talk about the complete process of purchasing cryptocurrencies.

And certain precautions you need to take to keep your investment safe briefly hot wallets are software based in the form of mobile app, desktop app or online cloud-based services.

On the other hand old wallets are in the form of actual usb devices some of you might consider direct investment in cryptocurrency to risky. Due to the lack of stringent guidelines and regulations to protect your investments while fluctuations in value of cryptocurrency and a dynamic legal scenario discussed earlier.

So let's discuss some indirect ways one way to indirectly invest in cryptocurrencies is to invest in companies that benefit from the huge growth in value of cryptocurrencies. For example cryptocurrency mining companies like marathon patron group or riot blockchain graphic card manufacturer like Nvidia or AMD or cryptocurrency wallet companies like Paypal.

Most of the stocks are listed on your stock exchange. if you are not sure how you can buy stocks listed on foreign stock markets you can read our previous article is right here another way to indirectly invest in cryptocurrencies is to invest.

Exchange traded funds like d-lock or blc these etfs had great returns in last 12 months. These etfs are treaded on u.s stock exchanges just like stocks i discussed earlier you can also benefit from the fluctuations in prices of cryptocurrencies to future contracts trading.

I will discuss future contract trading in detail in future articles fundamentally future contract is an agreement to buy or sell cryptocurrency at a fixed price in future cryptocurrency prices. Fluctuate widely also many cryptocurrency hot wallets have been targeted by hackers in past few years hence I don't dedicate a large portion of my portfolio to cryptocurrency investment.

But considering the huge return on investment smart investors should consider investing in cryptocurrency as a part of their investment portfolio

Thanks for visiting my blog