Cryptocurrency: The New Gold Rush | by Ujala siddique | The Capital | Jul, 2021
The cryptocurrency market is buzzing and complex to understand because the crypto market is too emerging and volatile. Investing in crypto assets is risky but also potentially profitable. People are investing due to the ROI (Return On Investment) over traditional investments like Gold, Stock, or Real-estate. A considerable long-term investment if you want to acquire and unveil the demand for digital currency. According to a survey about market fluctuations caused by COVID-19, the people’s view of bitcoins revealed that 47% of people trust bitcoin over big banks, 29% points over the past three years. Conduct your research before investing in crypto, as once you lost it, it is not coming back.
Cryptocurrency not entirely safe and is vulnerable to being hacked can be used in criminal activities. Storing cryptocurrency is more difficult as compared to retain bonds and stocks. Unexpected changes in the market can lead to sharp and sudden moves in price, and energy consumption in mining also makes it a threat.
Crypto is a volatile market, and a lot of internal and external factors can impact its value, so never invest more than you can afford to lose. Various crypto signal platforms, private Discord servers, Telegram chats, and WhatsApp groups are available that provide a signal for crypto market ups and downs, but it is always good to conduct your own research.
There are some instances someone can get a return up to 100x return if some invest in a new coin having potential but a lot of investors lose huge amount of money as well if the money is invested to failed coins. Withdraw your initial investment as soon you start investing in a coin because not every coin will be a winner.
Never invest without research in a coin just because of hype or marketing tactics to lure you in. A lot of coin projects use paid PR, influencers endorsements to pump the coin. Cryptocurrencies are held in digital wallets and can only be accessed using private keys, and you have to secure your keys. If you lost it, there is no way you are getting your money back.
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