Cryptocurrency: Investing or Gambling? | NewsClick

 Cryptocurrency: Investing or Gambling? | NewsClick

The most popular asset class since the onset of the COVID-19 pandemic arguably is the cryptocurrency. Indians have invested billions of dollars into this market over the past year and a half.

So, let’s look at the simplest of the questions. Should we invest money in cryptocurrency?

The short answer: No. 

And the reasons? Volatility and Scams.

Today, it’s extremely easy to buy cryptocurrency. There are various crypto exchange platforms, where users can sign up with a few clicks and purchase Bitcoin and other cryptocurrencies like Ethereum, Dogecoin, or the made in India blockchain project Matic. The market term for a listed cryptocurrency is ‘token’. Bitcoin and Ethereum are the most valuable tokens in the crypto market and most platforms have more than 100 such tokens which can be purchased by retail investors, i.e. the general public. During the COVID-19 pandemic, people were looking for new avenues to make money. They…

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