Recap of Live Session with Social Media Dissect

Recap of Live Session with Social Media Dissect

Here’s the recap of the Live Session with the Social Media Dissect team on October 2nd. The session was hosted by Aleena Gandhi, founder and CEO of Social Media Dissect with Nitin Agarwal, Founder of B21 Invest as the Guest.

Introduction :

Aleena — We have Nitin Agarwal today who is the founder of B21 Invest. He is a Fintech and Crypto product specialist. co-inventor of crypto linked debit cards, issued over 1M accounts in 70 countries. He is also specialized in money in and out at PayPal. He has Build wallets for Telefonica and Reliance.

AMA Session:

Aleena — In layman’s term, could you tell us what B21 does and how the idea came about?

Nitin — Initially it seems difficult for a person to understand crypto but once you start involving in it, things become easy for you thereafter. At B21 we are trying to enable the easiest way of getting involved in Crypto by starting with a small amount of Rs. 2000. We made B21 Invest really simple to make people like you and me invest in Crypto.

Aleena — Who do you think is the right audience for B21?

Nitin — I think anyone who invests should look at Crypto as an asset class. If you keep your money in a bank account or if you keep your money in your fixed deposit, to you invest your money in shares/stocks, you can look at this as well. So I would encourage the ones who are thinking of investing to Start Early. If you’re a college student, then you can take some risk, save some money, and invest. Anyone who is looking to learn more about this technology should invest because once get involved in it you get to learn more about it, and you start growing alongside. We’ve seen younger people, older people, housewives all investing a small amount because it is only Rs. 2000 to start. Don’t think about the day when you will invest, instead make this your first day in investing.

Aleena — What is the first step when you somebody are looking to invest?

Nitin — The first step is to know about it by doing some research and there are a lot of resources available over the internet to help you with that.

Aleena — What is your take on Crypto trading in India considering there is so much news of Crypto Ban going around?

Nitin — The first misconception Indian people have is that the Crypto is Banned in India, which is not the case. The government did put a ban a few years back restricting people to invest in Crypto but then in March this year Supreme Court ruled it out by saying that banning Crypto investment means not encouraging innovation. Looking at other major countries like the US, UK, and some Asian countries, they have started regulating this and they are bringing laws to bring more clarification to the investors.

Aleena — If I invest in Crypto using B21 and if India bans tomorrow then what happens to my money?

Nitin — So we are holding the Crypto on your behalf which means you can easily sell it whenever you want to and then withdraw the money to your bank account. At B21 invest, we hold crypto assets in a custodial wallet minimizing the risk.

Aleena — Where should I start to invest?

Nitin — Invest Small, invest regularly and diversify. Start with the small amount and don’t put all the money in one place, distribute them among the top coins. At B21 Invest, you can invest in 6 coins in one go. The last thing is since nobody can time the market, so invest a small amount regularly.

Aleena — Who are the custodians? Are they regulated? Assets are they kept in India or outside India?

Nitin — Our custodians are Prime Trust, regulated in the US. They are among the top ones and Major big names are using them too.

Aleena — What exactly is the mining of Cryptocurrency and how does it affect the market conditions?

Nitin — Bitcoin has a finite supply meaning there will be only 21 million bitcoins in the world. Currently, around 18.5 million bitcoins have been mined. There are two things when it comes to answering on mining — how a new Bitcoin comes and secondly how a transaction is verified? So generating new coins and verifying a transaction is done by a process called mining, the term is similar to gold mining. The mining means that you’re putting the resources of your computer and running software to mine a new coin and to verify the transaction that has happened between two parties.

Aleena — With cybercrime on the rise, how secured is Cryptocurrency?

Nitin — The first thing that is stolen during a cybercrime is the identity of the person. Can a bank or any social media network be hacked, yes it’s possible but can a decentralized network that has hundreds and thousands of computers be hacked together, practically not possible. As a network, the bitcoin blockchain is safe but for a user, it is possible that they can lose their personal data.

Aleena — How are my gains taxed when I invest on B21? is it possible to save tax by investing regularly on B21?

Nitin — When you make gains on your crypto investment, you can declare tax similar to how you would do it for any other asset, by classifying it as a short-term or the long-term investment.

Aleena — Crypto is risky, Is it regulated in India?

Nitin — There are risks involved with Crypto just like with any other asset! It is very new when it comes to the Indian market, so there is no regulation as of now. But lack of regulation enables innovation sometimes, so let’s not think only about legalization, we don’t know when it can come, it can happen tomorrow or in a week, or in a month or it can take years as well.

Aleena — What percentage of my investments would you recommend in Cryptocurrencies as a beginner in Crypto?

Nitin — Manage your risks, think about your needs, don’t put a big amount in the start instead start small, and once you gain confidence, invest more!

Aleena — When will it be possible to trade with B21 tokens?

Nitin — We are working on this right now! Probably by the end of October, we might enable the users to trade with the B21 token.

Aleena — How tech-savvy one should be to invest using the B21 Invest? Do we need to know the terms such as wallet keys, gas fees, etc?

Nitin — The answer is NO! These terms are still unknown to common people, and with B21 Invest they don’t need to worry about knowing such terms.

Aleena — Why the KYC verification on the B21 app mandatory?

Nitin — It is the right way to do it! If you want a fully custodial wallet where you can store your assets then you have to go through it!

Aleena — What will be the added value for consumers for using cryptos over the current digital means of payment?

Nitin — The added advantage is cost, there is no middleman and speed. So if somebody wants to send some money overseas they can process it quickly without any middleman and by paying a small fee.

Aleena — How small can anyone invest using B21?

Nitin — On B21 Invest, you can start investing with just Rs. 2000 in 6 coins, creating a portfolio choosing what percentage you want to add for every coin.

Aleena — Is Bitcoin a source of long-term investment?

Nitin — It’s better to think about the long-term as one can never time the market.

Aleena — Will NFTs be on the B21 app?

Nitin — Yes, it’s a work in progress! People will soon see that on B21 Invest.

We would like to thank Aleena Gandhi for hosting such a lovely session, and also to everyone for taking the time out to attend this.

As we keep getting questions from our community, we look forward to conducting more such sessions to answer them. We will keep updating the future webinars on all our Social Channels, so don’t forget to follow us.

Stay Safe. Invest Regularly.

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Investment for Passive Income

Recap of Live AMA Session held on September 22nd

Here’s a little recap of our Live Session on “Investing for Passive Income” held on September 22nd. The webinar was hosted by Nitin Agarwal, Founder of B21 Invest.

AMA Session:

Q — While investing in Crypto, what is your strategy? Can you share some of your experiences?

A — I am a believer in Crypto and I believe that it is the next asset class. So, while I have kept some of my money in safety instruments but the rest of the money I do invest it in Crypto keeping it for the long-term. I look at the price and buy the coins if there’s an opportunity but I don’t’ buy and sell it frequently meaning I do not trade.

Q — How to invest in Crypto?

A — It is very easy to invest in Crypto. There are many platforms available including B21 where you can go and invest easily. It’s better to start investing small.

Q — Harshit: Is it good to hold crypto for long as in more than 2 years?

A — That’s how I would do it. In a shorter period of time, the prices always go up and down but if you look for a longer horizon, it is going be the winner.

Q — Golden Janek: Old Solid Coins or New Coins, your suggestions?

A — It would be best to do your own research by looking at the project, the team, know your strategy, and then invest. Coming to me, I look at the older ones, I hold them for a longer period of time, and because I like to support the ecosystem so I do try to play on shorter ones as well.

Q — Bharat Ogirala: Based on your experience, where do you foresee Bitcoin going in the next 2 years?

A — I think in 2 years, we’ll see more and more businesses and individuals using Crypto as an asset class, it will be also be used as a transactional currency.

Q — Shivangi Khanna​: Staking how does it work on B21?

A — On B21, staking is coming very soon. We are building to help you stake the entire portfolio in one go, it is going to come in a few weeks and we hope to do a Live Demo session when that happens.

Q — Janek: Are investment platforms safe to keep crypto?

A — There are many platforms for that, it’s better to do your own research and then keep your assets in the place where you trust.

Q — With B21, can I diversify my portfolio? Some in Stocks, some in MF, some in crypto?

A — That is exactly where we are going. Today on B21, you can do it in crypto only that too in different types of Crypto, it does take time to build that but we are for the investors’ community and we’re building a place where you can in the future invest in Crypto, Mutual Funds, stocks and more.

Q — Manoj: How are Crypto and DeFi expected to transform business in the future?

A — It is bringing more competition in the financial space. Banks are becoming creative, regulators are becoming creative and it is going to be easy to invest slowly and steadily.

Q — Which is better, SIP or Mutual Fund?

A — The basics of investing says that you one can never time the market, so you should always invest in a diversified portfolio and invest regularly.

Q — Parth: SIP on B21?

A — Yes, it is a work in progress. Stay Tuned!

Q — Sagar Sarda: Are you planning to bring Mutual Funds as well on the B21 app? Can we get one platform that will let us invest across all asset classes available to invest on earth?

A — That is exactly what our mission is. We are building step by step, we have cryptos right now, we’re working on Mutual Fund, global share, and various other asset classes. So, we are looking to build a place that will enable you to invest in several assets.

Q — Boris: Why staking interest is higher on Stable coins like USDT?

A — The reason behind this is the people are borrowing more USDT right now because I think in a stable coin world, USDT is the most paired and has a larger trading volume even more than the Bitcoin.

Q — Anuj Singh: Will B21 be simplifying investing in DeFi?

A — Yes, we are working on bringing the DeFi projects very soon.

Q — Anuj Singh: When B21 is coming live on exchanges?

A — Very Soon, but at present, we are focusing more on the product and bringing more users to the platform.

Q — Aman Gangawani: How can crypto be converted to common monetary incomes?

A — It is very simple. You can invest in crypto, and earn staking rewards on certain platforms. You can see it on the B21 app, and it is easy to convert your crypto to fiat on the platform.

We look forward to conducting more such live sessions and will keep updating about it on all our Social Channels, so don’t forget to follow us!

Stay Safe. Invest Regularly.

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B21 Invest Webinar September 2020

Recap of Live AMA with CryptoCub

Here’s a little recap of our AMA with the CryptoCub community on September 8th. The AMA was hosted by Nitin Agarwal, Founder of B21 Invest and the CryptoCub team.

The webinar session started with the CryptoCub team discussing topics like Blockchain, some of its use cases, and later on coming to the Crypto investment and DeFi.

AMA Session:

Q — Adnan Ahmed: How many total numbers of Bitcoin exist and how many are still left to be mined?

A — There are 21 million bitcoins that can ever be created, which means it is limited in supply. There are 18.5 million bitcoins that had been mined in total so far.

Q — Aditya Shahani: Could you tell us a platform where we can go and find the relevant information about crypto?

A — Today in the information highway, there are so many sources of information available which includes print media, social network, and many more. Out of these, some are sharing new while some are sharing opinions, so instead of naming one channel or media source for getting authentic information, you can yourself figure out what is news or a fact or an opinion and make a judgment yourself. However, in Crypto, once you invest a bit, you get more and more involved and that’s where you begin the learning process.

Q — Veer: How is B21 planning to bring DeFi?

A: DeFi is new and risky but is exciting as well. It is the first application for decentralizing the entire banking and financial system. DeFi at present is tech-intensive and that means only a small amount of people can take benefit from it. So here we are looking forward to making investing in Crypto and Defi as easy as possible for common people. We are aggressively working on becoming the Gateway to Crypto and DeFi.

Q — Tejas: What determines the price of Cryptocurrency in developing/developed countries?

A — Be it a developing country or a developed country, it really doesn’t matter. Being a decentralized currency, the crypto coins have no boundaries. The price of the Crypto coin is purely determined by the demand and the supply, it depends upon how many people are buying and selling it.

Q — Tejas: To a crypto beginner, which of the coins would you advise to invest in?

A — I would suggest that as a beginner instead of investing in one spread, create a portfolio of three, four, or more coins. Invest a small amount and invest regularly. It is better to choose from the top 10 coins and start investing in them and once you’re comfortable you can look for other coins as well.

Q — CryptoCub — How B21 is beneficial for the Indian market?

A — The beauty of B21 is it makes the process of investing very simple for the people. We enable people to invest in using local payment methods, such as UPI. We are the only place where you can invest in more than 4–5 coins together with a small amount of $25. We are looking to bring more functionalities for Indian users in the coming days, so Stay Tuned!

Q — Sagar Sarda — The prices reflected on the B21 for crypto coins, where are you sourcing them from?

A — We get the price from multiple exchanges, probably from the top exchanges to give you the best price. We have built a very smart and complex engine to get the price from various exchanges of various crypto coins.

Q — Sagar Sarda — Do you have any future plans of bringing stable coins?

A — We will take this into consideration as enabling stable coins such as USDT is not very difficult. We will look to bring the stable coins very soon on the B21 app!

Q — Aditya Sahani — Can I hold crypto coins as long as I want to?

A — No, this is the beauty of it! We hold all the coins in a regulated custodial wallet, Prime Trust and we always encourage people to Invest small and invest regularly.

We would like to thank the team of CryptoCub, for hosting the Webinar Session on Crypto Masterclass and inviting B21 to become a part of it. As we keep getting questions from our community, we look forward to conducting more such webinars to answer them. We will keep updating the future session on all our Social Channels, so don’t forget to follow us.

Stay Safe. Invest Regularly.

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