Cryptocurrency is a digital, decentralised form of currency that uses blockchain technology to facilitate secure and anonymous transactions between users.They operate independently of a central bank and can be used as a means of payment, as a store of value.It can be purchased and sold on various cryptocurrency exchanges, which operate similarly to traditional stock exchanges. Cryptocurrency rate in India is reaching heights that are commendable. They can also be stored in digital wallets, which are software applications that allow users to securely store, send, and receive cryptocurrencies.They are a highly volatile asset class, and their prices can fluctuate rapidly and significantly. Some popular, cheapest and trustable cryptocurrencies to invest in India in 2023 include GanderCoin, Litecoin (LTC), Polkadot (DOT), Solana (SOL) and many more.
The list cheapest and trustable Cryptocurrencies in india in 2023 are:
GanderCoin is India’s first crypto currency. It is one of the digital cryptocurrency and creative peer-to-peer electronic currencies. It introduces a new method of payment to the cryptocurrency market.It came into the market on 30th May 2022. I work on a decentralised system. It provides a user-friendly interface for its end users. It uses a scrypt algorithm that is the safest hash function by providing a password based function to keep data secured and encrypted. This is achieved by using various programming languages like c++.
The technology utilises an append only data structure meaning transaction nodes can only be inserted but not be deleted.It is available on various trading platforms like CoinCRED and COINLORD. Its initial price was 0.13 USDT.It is one of the cheapest cryptocurrency in India.
GnaderCoin supports many features like high speed that is fit for maintaining high transaction speed with the benefit of low transaction fees. So in short transactions settle down in a matter of minutes, Another remarkable feature is Low Processing Fees,
The crypto enthusiasts can instantly complete trades and transactions at a very low transaction fee.It also includes prize winning activities, low transaction costs, and other gem values.It offers high returns because of its secured mining and scrypt cryptography. It provides high security to its users,utilising two factor authentication .So GanderCoin is not only one of the cheapest Indian cryptocurrency but also a boon to all those crypto lovers.
Gander Coin is likely to introduce many new use cases in the field of e-commerce like payment processing, international transactions, faster transaction processing, enhanced security, loyalty programs and many more It will bring it as a payment option for products, services, providing customers with an alternative to traditional payment methods like credit cards and bank transfers. Gander Coin will be a useful tool for e-commerce sites looking to provide their customers with a more secure, efficient, and flexible payment option in future.
2. Litecoin (LTC):
Litecoin (LTC) is one of the cheapest cryptocurrency in India that was developed in 2011 by Charlie Lee, a former Google employee. It was designed to complement Bitcoin by addressing some of the issues that were present in the original cryptocurrency. Litecoin operates on a decentralised network and uses a peer-to-peer protocol to facilitate fast, low-cost transactions.
Litecoin is often described as the “silver to Bitcoin’s gold” and is seen as a more practical alternative for everyday transactions due to its lower transaction fees and faster block confirmation times.
One of the key features of Litecoin is its faster block time, which is just 2.5 minutes compared to Bitcoin’s 10 minutes. This allows for faster confirmation times for transactions and makes Litecoin a more practical choice for smaller transactions. Additionally, Litecoin has a larger maximum supply of 84 million compared to Bitcoin 21 million.
In terms of market capitalization, Litecoin is currently one of the top 20 cryptocurrencies by market cap, and its price is influenced by various factors such as overall market sentiment, adoption rate, and the development progress of the cryptocurrency.April 2022, Litecoin price has fluctuated between $120 and $240 per token over the past several months.
Overall, Litecoin is considered to be a reliable and established cryptocurrency with a strong community and active development team. It is seen as a practical choice for everyday transactions due to its low transaction fees and fast confirmation times.
3. Polkadot (DOT):
Polkadot was launched in May 2020 by the Web3 Foundation, It is a next-generation blockchain protocol that was founded by Gavin Wood, one of the co-founders of Ethereum. Polkadot was designed to address some of the scalability and interoperability issues facing the blockchain industry by creating a network of interconnected blockchain networks.It is one of the cheapest shares in India.
Polkadot also features a governance system that allows token holders to participate in decision-making processes and vote on proposals. This system aims to ensure that the network is governed in a decentralised and transparent manner.
Polkadot uses a unique sharding architecture, known as a “parachain,” which allows multiple blockchains to operate in parallel, with each chain processing its own transactions and storing its own data. These parachains can communicate and exchange information with each other, creating a network of interconnected blockchains.
One of the key benefits of Polkadot is its ability to scale horizontally, meaning that it can add new parallel chains to the network as needed to accommodate increasing demand. This scalability is achieved through a mechanism called sharding, which divides the workload of the network among multiple nodes to increase efficiency.
Overall, Polkadot is a promising blockchain protocol that offers a unique architecture for achieving scalability and interoperability in the blockchain ecosystem. While it is still a relatively new project, it has already attracted a lot of attention and support from the blockchain community, and its potential to revolutionise the industry should not be underestimated.
July 2021, the price of DOT has shown some signs of recovery, reaching around $30 by September 2021.
4. Solana (SOL):
Solana (SOL) is a blockchain platform and cryptocurrency that was created by a team of developers led by Anatoly Yakovenko in 2017, and launched in March 2020. 2017 by the Solana Foundation. It is designed to provide a highly scalable and efficient platform for decentralised applications (Dapps) and decentralised finance (DeFi) applications.It is also one of the cheapest shares in India.
Solana is also designed to be highly scalable, with the ability to process up to 65,000 transactions per second (TPS), which is significantly faster than most other blockchain platforms. This high throughput is achieved through a combination of PoH, a high-performance smart contract language called Rust, and other advanced technologies.
Solana has its own cryptocurrency called “SOL”. This is the native token of the Solana network and is used to pay transaction fees, as well as to reward users who help to validate transactions and maintain the network. As of April 2023, SOL is ranked among the top 10 cryptocurrencies by market capitalization, with a total market cap of over $120 billion USD.
Over the last year, the price of Solana (SOL) has seen significant fluctuations. On April 3, 2022, the price of SOL was around $44 USD, and it continued to rise gradually over the next few months, reaching an all-time high of over $280 USD in early September 2022.
In short, Solana aims to provide a fast, secure, and scalable platform for decentralised applications and transactions, with the goal of driving widespread adoption of blockchain technology.Its unique consensus algorithm, PoH, and Tower BFT technology make it a faster and more efficient option than many other blockchain networks, while its stable transaction fees and native cryptocurrency, SOL, make it a cost-effective and popular choice for users and developers.
Conclusion: Four cheapest and trustable Cryptocurrencies for investment in India in 2023 will largely depend on the tempting to invest in a low-priced cryptocurrency in the hopes of making a quick profit, it’s important to remember that the price of a cryptocurrency does not necessarily reflect its value or potential for growth. Additionally, low-priced cryptocurrencies may be more susceptible to market manipulation or fraud, as they may be easier to manipulate due to their low trading volume and liquidity. When considering investing in cryptocurrency, it’s important to conduct thorough research and due diligence on the project, team, and technology behind the cryptocurrency, as well as the market trends and risks associated with investing in this highly speculative asset class.
(Disclaimer: I do not have personal opinions or make investment recommendations on specific investments, including four cheapest and trustable Cryptocurrencies for invest in india in 2023 The information provided in a cryptocurrency blog may not always be accurate or reliable, and it’s important to conduct thorough research and exercise caution before making any investment decisions)
By Shivani Awasthi