Frequently Asked Questions for Newbies

1. Where do I start trading?

Make an account on Binance, WazirX etc. We recommend a platform that isn't based off India just in case some idiot decides to ban crypto. Make an account and get KYC done.

2. How long does KYC take and what do they need?

Your PAN, and some other identity proof. Usually can be done in hours but due to demand increase, might even take days or a week. So there's no need to panic.

3. How much money do I start with?

You can start with as little as 5000 rupees. The idea is to not put more money in than you can afford to lose.

4. How do I put money into my crypto wallet?

We recommend P2P. Someone who has crypto and wants INR will pair up with you and you will make the exchange. This option will always exist on the trading platform.

5. What is leverage?

Leverage is the factor you're willing to multiply your profits (and therefore losses) with. Playing at 5x leverage means if you make 10% profit, you get 50% returns and if you make 20% loss, you get 100% returns and therefore bankruptcy. We recommend a leverage of 2 to 4. See the (3x) or similar symbol close to any trade in Spot or Futures to know what leverage factor you're being subjected to.

6. Can I control my losses?

Yes. The stop loss option exists where you can just specify the loss after which you want the computer to automatically close your position before your sorry ass takes more loss.

7. What coin to buy right now?

Always do your own research. Everyone will have a different answer. So ask everyone. But don't blindly rely on anyone.