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.
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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