Is it safe to invest in cryptocurrency?
At this moment everyone’s eye is on that Is it safe to invest in cryptocurrency or not?
After years of getting news about bitcoin and other altcoins, many news are hovering around that many countries and government are trying to kill the crypto market by banning it or by making strict regulation over it.
Here we give our best to make you understand, how risky this market can be for you if you are thinking of making any invest in crypto currency market.
Today crypto currency is the most talked about topic in the financial world. Bitcoin is doing fine since its initial days, it turned out to be a good investment for most investor. Traders are very curious for knowing about its benefits and risks.
If you are also interested in doing investment in crypto currency then we strongly suggest you to go through this article at least once, this will definitely help you out to decide whether investment in crypto currency will be good for you or not, how much reward and risk are involved in it.
First, we need to know what are crypto currencies?
Unlike fait money, crypto currencies like Bitcoin, Ethereum, Dogecoin, Matic and many more are decentralised virtual digital currency. Meaning crypto currencies are having floating value in real currencies.
Almost all crypto currency is decentralized which works on block chain technology. There is no such authority which regulates or guarantees it unlike what we have in case of fait money. For example, in US Federal Bank regulates and issue fait money, which also works as a watch dog. In case of crypto government have almost none or very minimum interference.
Why is it not safe to invest on crypto?
According to many big investors, invest in crypto is like doing full fledge gambling. Because crypto currency market is highly volatile.
If you do not do adequate research and analysis than surely you are going to lose your money. It is highly recommended that if you are thinking to invest your money in crypto than you have to do proper technical analysis.
You should be going through its fundamentals. Like, what are companies basic, what are their future plans etc. After all these analysis you will understand that is it safe to invest in cryptocurrency or not.
This crypto market is high risk market… very risky! And it not safe either.
As this market is running highly on speculations, any bad news can make you a huge loss.
In addition, there are many scammers are readily waiting for you to stole your investment within a fraction of second.
Even many giant whales can do market manipulations of which a normal trader generally isn’t familiar with. And you end up with making big losses.
In many cases it reported that many investors’ accounts have been hacked wrongfully and sometimes they do forget their passwords. In any of above cases you going to book loss.
Apart from this we recommend you to better invest your money in other genuine businesses like real state, life insurance invest in big companies whose fundaments are very strong.
Disclaimer: The view shared in this blog is based on one’s personal opinion and after doing lot of research. One should recommend financial advisor before investing in any such high volatile market. This would be the sole decision of investor,
And hence we are not accountable for this in any means.
We have already suggested our readers about best cryptocurrency to invest in 2022 and 2023 in separate articles. One can click the given link and go through that article for proper analysis over the best cryptocurrencies for investment. For more information regarding crypto trading and market stay tuned with DeSoft Technology.