Even if they have no prior expertise with stocks or mutual funds, Indian Generation-Z investors are flocking to cryptocurrencies. The passion for cryptos is set to leap with the arrival of huge names like Amitabh Bachchan and Salman Khan into this market.

Bitcoin, Millennials’ new “Big B”, is exercising its muscles. Its price in India just surpassed Rs 50 lakh. If the current trend continues, Indian investors may opt to buy digital tokens instead of gold around Diwali. Here are some cryptocurrency suggestions for Diwali:

Cosmos (ATOM)

As an interoperable and self-contained blockchain, the Cosmos ecosystem has been fast expanding. Things appear to be in place for the ecosystem to work significantly better following a recent change in the core staff. Its ecosystem includes well-known projects and coins like crypto.com and Terra Luna, which have performed exceptionally well and have their ecosystem and projects.

Bitcoin (BTC)

Bitcoin prices will rise to new heights, spurred by the momentum created by Bitcoin ETFs. Valkyrie, a new entrant, has received clearance from the US Securities and Exchange Commission for a bitcoin futures ETF, joining ProShares and VanEck in the league. This might help bitcoins gain even more traction.

Enjin Coin (ENJ)

Enjin Coin is a significant actor in the NFT ecosystem with a lot of exposure. In many ways, it is a pioneer in the NFT space. The creators want to make it easy for individuals, businesses, and brands to use NFTs.

USD Coin (USDC)

This stablecoin is being used by payment companies like Visa to settle payments on the network rails. USDC’s global acceptance at Visa’s 70 million merchant locations will continue to drive adoption and, in the long run, contribute to a price rally.

Solana (SOL)

It is one of the most rapidly expanding blockchains, and it is funded by Alameda Research’s Sam Bankman-Fried, the man behind the FTX exchange. Solana is the quickest blockchain, and it’s used in high-speed trade and gaming apps.

Pax Dollar (USDP)

Paxos is the eighth-most valuable stablecoin in terms of market capitalization. Facebook chose it for its Novi wallet experiment. It is the first stablecoin to be widely available outside of the crypto community in a consumer wallet. Stablecoin will transform consumer finance and help to expand financial inclusion.

FTX Token (FTT)

It’s the coin of the FTX exchange, which is run by Alameda Research and Sam Bankman-Fried. Bankman-Fried is one of the most recent crypto success stories, having been the second-largest donor to Joe Biden’s presidential campaign. FTX is a trading exchange created by traders, for traders. FTT currency appears to be a smart long-term investment because it has helped raise large amounts of money from venture capitalists and has celebrity support from Tom Brady.

Benefits of Buying Cryptos in Diwali

1. Cryptocurrencies are a terrific way to protect yourself from inflation and central bank money printing. Diversifying investments across asset classes, such as crypto, can provide a portfolio with a much-needed lift.
2. Several platforms are offering incentives to consumers who want to start investing in cryptocurrency.
3. Bitcoin has achieved a new all-time high after months of being under pressure. It demonstrates that perseverance pays off. Despite the recent increase in Bitcoin, some high-potential altcoins remain discounted. The festival season may be the ideal opportunity to diversify your portfolio by investing in some of these cryptocurrencies, such as Polkadot.
4. Diwali could be the ideal moment to take the first steps toward establishing a crypto investment strategy. The best course of action would be to select a few prominent cryptocurrencies and diversify.
5. Choosing the ideal present can be a difficult chore for many people. Cryptocurrencies are not only efficient and convenient to give, but they also have the potential to appreciate. To entice Indian consumers, global investing platforms are known to encourage giving cryptos during Diwali.

Final Thoughts

In our country, festivals are celebrated with considerable vigor. Many people wait for such occasions to make auspicious purchases. During Diwali, it is common to purchase gold. Several Indians are actively trading in cryptocurrencies as the global financial system evolves and investors become more knowledgeable.