Crypto & Risks

🧢 Tags:: #Financial_Freedom #Cryptocurrency #🌱 #Fleeting_Notes

Risks

Investing is crypto is extremely risky. Trading in crypto is fun and very profitable if you know what you're doing.

Manage your funds right, and you can make more, than investing in something intangible like crypto in the long-term. If you want to learn Stock Trading. Contrary to the popular belief, I'd say learn in crypto markets. You don't really have to have a minimum account balance in most of the exchanges. The volatility is also pretty high that you can easily understand the basics without worrying too much about the entry and exit points.

Frauds

Crypto is still the wild west of finance. With a relatively low barrier to entry, anyone with a half-baked idea and some computer skills can start a business in this.

Many small companies even in India have started pyramid schemes based on Ethereum and other similar cryptos. It's simple to start and due to the decentralized model you can't catch the perpetrator is something goes wrong.

To top it off Indian government has already warned people to not get involved in Crypto but, if you still get involved and fall into a trap then the government will have a hard time trying to do anything, if they ever try to do anything.

It's best to be very careful. Only put something in here which you're ready to lose.