Is Crypto currency is safe for investments nowadays?


#1

Hi everyone, I wanna invest in Cryptocurrency but I am scared a bit because of the ban on Bitcoin but I am seeing people making money with cryptocurrency and it is giving an amazing profit to people who have knowledge about this but I am new in this and I know very less about the Cryptocurrency. So, please give your suggestions about the cryptocurrency and in which cryptocurrency i should invest or not.

Thanks in advance.


#2

Given the volatility with Cryptocurrency, lack of FDIC coverage (for US citizens), and the uncertainty of government regulations, I consider it to be more gambling than I do investing. On top of that, there are a lot of less than honest people creating alternate coins, there are “whales” that drive the price of cryptocurrency up just so they can dump their coins at a profit, and given the digital aspect of cryptocurrency you are dealing with virtual companies that could disappear quickly.

With all that said, if you have some $ that you don’t mind gambling with, then consider doing some cryptocurrency as a hobby. I dabbled with it for a couple of years. I made a little money and I lost a little money. I learned quite a bit about cryptocurrency and blockchain technology. However, I would not advise anybody to put in money that they are not ready to loss.

I hope this helps.

~RichieRich


#3

It was always as safe as speculating tulip bulbs. At least tulips have some intrinsic value.