Should you invest in cryptocurrency or not?
Cryptocurrencies are going very popularly in some of the recent times. Indian markets are going very rapidly and it’s our digital currency which provides you with many facilities. It’s an online currency and no one have right in it. this type of currency is used is blockchain technologies for tracking the value and knowing all things about ownership. Bitcoin is a popular cryptocurrency which can help you to invest if you want to invest in it. However, it is very risky to invest in cryptocurrencies.
Cryptocurrency like bitcoin
Bitcoin is a cryptocurrency and people are using it as electronic cash. One of the major advantages of bitcoin is that no one has a right in it. A single person is not the administrator of bitcoin. It was the time of 2008 when bitcoin firstly arrives in the market. In the starting times, people think that it will not have a major impact but from some recent times, it has got true popularity in the market.
If you have your family members in different countries like Europe you must use some banks for transfer method like Paypal to transfer in the money. This method takes a lot of transaction fees. However, payment is done digitally. When the payment is done digital there is no need to take other fees. These organisations make lots of money from us as security fees and transaction fees and we have to pay a lot. After the coming of bitcoin, it is easy to transfer money at a very cheap rate.
Earlier other methods are taking money just for keeping your record for conversion fees, some take transaction fees from you and it takes lots of money as charging fees. The sender is having lots of loss of money in this case. One of the major advantages of bitcoin is that your transaction is very secure and it’s only you and the receiver who knows about the transaction. Your money is totally digital you do not have to you take any tension because it is very secure.
Should you invest in it?
Bitcoin is the major cryptocurrency in the current time. It has also generated some interest in investors because they think that it can change replace the modern currency system with bitcoin. In the year 2017 bitcoin value per coin is very high at about $20000. But in the year 2018, the value gets very low. After knowing this sum of the investors becomes very shy in investing it because of a sudden increase and decrease in the value. But in some recent times there is a major growth in bitcoin value. The market of cryptocurrencies have become mature in some recent times. You can invest in cryptocurrencies if you are not thinking about a major risk. But for this concerned, you have to keep some things in mind like
People are investing in cryptocurrency is like a lottery-type system and they want to earn a big amount from it. But this type of things can bring a disaster in you. If the market condition is right you can have a good win but you can also use lots of money in this case. If you want to have a success in cryptocurrency you have to diversify the risk. You have to take help from a financial professional. You can use diversified investment in cryptocurrency. You can invest in an index fund. Many peoples like Warren Buffett suggest investing in an index fund. Because in all these funds the risk is very low and you can perform well in this market.
As a single investor, you have to diversify your choices because in cryptocurrency is there is more risk than any other fund available in the market.
Taking help of professionals
You will also find one challenge of finding a good professional. You need to find someone who can do good research and provide you with a good portfolio that can give you a decent return on investment. There are many options available if you think about cryptocurrency investment platforms. Many of the financial professionals are there who can help you.