There are huge hype in the market in present time to invest in Cryptocurrency as it has a potential market and recently even a bitcoin touched 15 lakh rupees. Some even told it has potential that it can survive even in crash economy. Upto this reading you may find fascinating to investing in Cryptocurrency. But let us tell you that why you should not invest in Cryptocurrency.
The main problem with Cryptocurrency is that there is no govt who accepts this form of money transfer. So It totally depends on people. If one day people did not find value in Cryptocurrency it may value zero. Government did not care even your huge investment drained or became a fruitless tree.
There are thousands of incidents that people become crazy rich in few months by investing in the Cryptocurrency. But there are also hundreds of incidents that people lost everything in this market too. It is too hard to predict and it did not depend on anything you can assume before.So before you should know that you are investing in a high pressure situation.
In any investment you can expect that through your investment can influence a business. But there is no control or influence of you in the market. It is more like gambling like investment. No skill can determine that you should invest or not. In any investment where you cant influence consider as a bad business. So you should aware you will learn nothing investing in the cryptocurrency no matter how many years you spend in the market
NO HELP FROM BANK
Not only this type of money transfer is not get validation from banks but RBI decided that no one can transfer their money in giving the reason of Cryptocurrency. That’s why thousands of bank account have been closed. A small investor like you, if not get the banking support it will be terrible thing for you to do further investment or using the money.
If you are thinking to make a pension plan from or planning a buy to house in future, there is no guarantee even after huge investment you will get proper money regularly as it fluctuated too much. So there is a chance that your future plan may totally vanished if someday people lose interest in buying your virtual coins. There is no value of the virtual coins in the real market.
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If anyone have a huge stock of money he can definitely invest some money in the Cryptocurrency, as there is a chance of high returns of the investment. Even if the money get lost he will not be in road. But for a new investor he must look into other govt. claimed policy as they are in relatively safe investment. If anything goes wrong there is a chance that you should get some compensation from the govt which may help you to not be in road for any bad investment.