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Cryptocurrency may be a good investment if you are willing to accept it is a high risk gamble which could pay off – but also that there is a strong chance you could lose all of your money.

Bitcoin and other cryptocurrencies often make for high-risk, high-reward choices. Crypto investors could actually lose money, rather than getting richer over time.

In this article we look at:

  • Is it a good idea to invest in cyptocurrency
  • Is cryptocurrency a good way to make money
  • Is cryptocurrency a good long-term investment?

Is it a good idea to invest in cryptocurrency?
It is a good idea to invest in cryptocurrency based on the facts, not the hype.

Before you buy and sell cryptocurrency, know the risks so you can judge if investing in it is a good idea for your personal finances.

The Bank of England would not agree that cryptocurrency is a good investment. Governor Andrew Bailey warned that people who invest in crypto should be prepared to lose all of their savings.

What are the risks of investing in cryptocurrency?

Governments and financial regulators in almost every country have warned investors of the risks posed by buying cryptocurrency.

That’s because when an investment starts to appear in headlines as a way to get rich, investors pile in without thinking through the risks.

Scams
There are thousands of bitcoin investment scams going on today.

Fake promises of high returns
Cryptocurrency firms may also be overstating how much investors could receive from investing in crypto, while minimising the risks.

“The FCA is aware that some firms are offering investments in crypto assets, or lending or investments linked to crypto assets, that promise high returns. If consumers invest in these types of product, they should be prepared to lose all their money.”

SOURCE: thetimes

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Is cryptocurrency a good investment?

Posted by staff on June 24, 2021

Insights & Tutorials


This article contains affiliate links that can earn us revenue.

Cryptocurrency may be a good investment if you are willing to accept it is a high risk gamble which could pay off – but also that there is a strong chance you could lose all of your money.

Bitcoin and other cryptocurrencies often make for high-risk, high-reward choices. Crypto investors could actually lose money, rather than getting richer over time.

In this article we look at:

  • Is it a good idea to invest in cyptocurrency
  • Is cryptocurrency a good way to make money
  • Is cryptocurrency a good long-term investment?

Is it a good idea to invest in cryptocurrency?
It is a good idea to invest in cryptocurrency based on the facts, not the hype.

Before you buy and sell cryptocurrency, know the risks so you can judge if investing in it is a good idea for your personal finances.

The Bank of England would not agree that cryptocurrency is a good investment. Governor Andrew Bailey warned that people who invest in crypto should be prepared to lose all of their savings.

What are the risks of investing in cryptocurrency?

Governments and financial regulators in almost every country have warned investors of the risks posed by buying cryptocurrency.

That’s because when an investment starts to appear in headlines as a way to get rich, investors pile in without thinking through the risks.

Scams
There are thousands of bitcoin investment scams going on today.

Fake promises of high returns
Cryptocurrency firms may also be overstating how much investors could receive from investing in crypto, while minimising the risks.

“The FCA is aware that some firms are offering investments in crypto assets, or lending or investments linked to crypto assets, that promise high returns. If consumers invest in these types of product, they should be prepared to lose all their money.”

SOURCE: thetimes

Follow
( 0 Followers )
X

Follow

E-mail : *

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