CRYPTOCURRENCY| Now-a -days cryptocurrency is quite into the modern era investment, there are many myths around the globe and making you Richie rich promises in crypto investment. Whether you should invest in cryptocurrency or not? let’s take a birds-eye view of the investment. Make sure that the below-mentioned scenarios do not apply to you, if it does, then you should absolutely need to change your mind and not be buying crypto. There are a couple of cryptocurrencies that are trending in the market, It does not matter which cryptocurrency you are thinking right now for investment purpose; let us see in which category you are falling into and whether it is a right to think to invest in cryptocurrencies or not.
The finance mantra always speaks about higher risk results the higher returns. In the case of cryptocurrencies and further talking about bitcoin, the higher risk, due to its popularity. It is very high risk and speculative investment with high volatility. For beginners’ point of view, it is not the best cryptocurrency to investments. You can think of this investment only If you do not fall under the following conditions.
1. You Want to Quit Your Job And Become Rich
Suddenly, changing your attitude does not fulfill your dream overnight. It always takes a good time to produce a good product. Investment is required to invest your time in learning the process. If you want to quit your 9 to 5 job and wanted to be a millionaire by investing in bitcoin, then you are living in the clouds. There is no road to this. Many advertisers run ads that cryptocurrencies or bitcoins work overnight, this is just a scam and the most stupid thing to rely upon. Make a realistic approach before going to invest in a highly volatile investment.
2. Double Your Money In A Very Short Span of Time
If your food for thought feed by mailman in investment in cryptocurrency is solely doubling your money in a short span of time, you are literally at a very wrong decision side of the investment. Others’ experience in making money will not be different than yours and it is very obvious. Don’t get yourself into a trap. You do not have any idea about what was their journey and how they’ve made money; First do educate yourself about bitcoin, then take your decision. Always, start with small money to learn the process.
3. Your Solely Interest Is within the cash
If you are doing not care about bitcoin, blockchain technology, and their attainable implications. All you care concerning is money in cash then you must not invest in bitcoin. This may be kind of like to invest in a stock where you are doing not care regarding the money. So, you must not place confidence in a capitalist in bitcoin if this can be the state of affairs.
4. Guarantees Return By A Trusted Source
If advertisers are offering you any small percentage interest on your money, and if someone showing you a guaranteed return on your investment, then just leave the show and make your mind to switch off your ears, there is no defined pattern on return-only investment in any stock or in crypto. There are no guarantees with any investment. So, think again, if this is the sole reason for your investment. “Short roads never have a destination, but definitely a wall that ends the road.” Sound Heartbeat
5. You Can’t Afford To Lose The Money
One of the foremost widespread searches for bitcoin, currently daily is a way to obtain bitcoin with a MasterCard. If you’re making an attempt to shop for bitcoin with a MasterCard, then you can’t afford it. So, don’t even attempt to choose this option. If this can be the money that you simply have to be compelled to do all the essential things in your life or even this is the money that you get by borrowing from somebody, then you’re out of your mind. A rational approach doesn’t enable you, someone, to take such a devastating step.
So, if you constitute any of those 5 eventualities, then you ought to not be financed in one thing that has high risk. Before making any investment just think again if you have fallen in the over category. Take your Investment decision wisely.