asked in Business+Finance by (17 points) 4
edited by
replied by ELITE (3,661 points) 6 8 12
I don't really trust this virtual currency, I don't know why they invented it but for what reason and what made it so valuable.
replied by ELITE (3,006 points) 3 9 14
I don't see anything wrong when someone decides to invest on bitcoin. However, there is need for the investor to also understand that there is a whole lot of risks involved on deals such as this.

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9 Answers

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answered by Patron (2,969 points) 2 12 29
Cool question!

I think that this is something that will not evolve much, as criptocoins are not regulated and right now serve to cover shady stuff, like to help people do money laundering or even to finance crime.

I do believe that it will not evolve much before it is regulated by the government. In many countries all over the world this kind of currency is becoming a problem, especially when we thing about drug dealers, corruption, and money laundering.
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answered by LEGEND (7,489 points) 4 15 39
When more and more governments start to outlaw the use of cryptocurrency in their countries it will make it harder and harder for this form of currency to survive. Unless each government can step in and regulate this currency in their own country, then I see a major issue and many problems coming in the next year or so. 

It is hard for me to invest in a market that is controlled and governed by the people who created it. They have made their own rules and regulations on how this should work. There are no checkpoints, controls, or even regulations setup in this market. That makes it a risky market from the start. However, people who are tired of being taxed, losing all their money in the stock market or other investments see this as the perfect opportunity to earn money quickly.

I also fee that too many shady businesses use this form of currency to laundry money or hid funds that can't be touched by anyone. If a person had a large business and was wealthy had to get a divorce, I can see how this market would benefit them greatly. They could pour tons of money into this market that nobody could touch. In the end, the wife wouldn't get much from the husband in the divorce because his money was tied up in an electronic currency that is not regulated.

I think this is a great idea if they could make it easier to spend this currency, withdraw it for cash, or use it to pay your bills. Once this happens there is a good possibility that I might look into investing in this currency. Until this happens I just sit back and watch what is happening in this market. 
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answered by VISIONARY (9,007 points) 6 9 19
Life itself is a gamble and as such we are all gamblers and as gamblers we can actually go for anything even as risky as investing in Bitcoin and of course see how it goes.I think it still okay to invest in Bitcoin but because of it volatile nature it is advisable to use just a little of one's net income. When it comes to risky business such as this one just need to apply wisdom and trend with care. Bitcoin isn't secured, a price that can go from some thousand of dollars for a day and the next day might go down to zero or a little more is just super risky so it more of a gamble. If it good then one takes it but if it turn out sours then one still needs to take it's in ones strides so that's the whole idea of trading in Bitcoin. It not a business investment for the faint hearted.
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answered by ELITE (3,549 points) 3 7 11
Cryptocurrency is the future of currency which we already have in our present time. Is it worth investing in? The answer to this question is absolutely yes. If anyone haven't taken cryptocurrencies very seriously should look back as far 2009 when the first cryptocurrency blockchain was launched and it was called Bitcoin. Back then, the price of Bitcoin was as low as $1 and can you imagine investing around $27 in Bitcoin back then, by now the $27 bitcoin would worth $980,000.


This statistics shows you how valuable cryptocurrencies are becoming in the world today even though there are still some parts of the world where it's government still fails and refuse to accept as well as approve the use of cryptocurrencies but it's just a matter of time and it's going to be generally acceptable.
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answered by ELITE (3,006 points) 3 9 14
The thing is that the question should not be whether we should be investing on cryptos, but about how much we should be investing on it. I have this particular friend of mine that I met in 2015 and that was when the world of cryptocurrency was becoming popular here. He took the risk when a lot of people were really not ready to invest a dime on bitcoin. Back then, he took out some of the personal savings that he was keeping to start a building business and invested on bitcoin. Right now as I write this, he is one of the top traders in bitcoin in our community and can easily invest huge sums in buying the coins.

I think that the world has gone to that stage where you can make money as long as you are patient to invest some money in crypto such as bitcoin. So, I think that it is not yet late to start making money as am investor in bitcoin. However, you should be wary of some Ico in the market now.
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answered by (11 points) 1

According to me, the investment in cryptocurrency is a good idea. certainly, it is not legal me many countries but crypto investments are the great way to earn high retuns for risk takers. But for the beginners and new bees, this can be difficult.

Reasons to invest

improved  crypto regulation

the blockchain is never to end

crypto as a promising future

technology investment

We can also Invest in ICO. they are means of crowdfunding through releasing new cryptocurrency or token to invest in new technologies and project for the development. ICO is bit new concept in India but its equivalent to IPO in the mainstream of investment.

to know more about what, how and where to invest visit this site it answered all my question site

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answered by Patron (1,925 points) 2 5 14
As per my understanding, crypto currency is still shrouded in mystery. In many countries of the world, it is not a legal tender. It is not a physical currency. It is not subject to rules and regulations formed by any Government. Whether, it will continue to grow despite all the hype surrounding it is also doubtful. In such a scenario, how can you invest in crypto currency?

Before investing, you should also first know how to earn crypto currency and that must be in a legal way. As otherwise, all your efforts will go waste. As it is, frauds about crypto currency is being reported both offline in the print media and online. When it is not at all a legal currency, if you lose your hard earned money by investing in crypto currency, who will help you?
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answered by (41 points) 1
This is a question that will have a different answer for everyone. I personally do invest in cryptocurrencies, but I make sure that I do not invenst more than I would be willing to lose. I do truely believe that crypto currency is the future of currency for many, if not all people. The issue with cryptocurrency now however is the speed to process a transaction taking much more time than a credit card transaction. At least in the base of bitcoin. I personaly have been investing in several coints, but one that I really like is DogeCoin. This coin processes much faster than bitcoin and is very inexpensive to send.
Here is an example, if I send $1000 by western union it would cost me $99.99 to get the money sent in minutes. For $1000 worth of Doge it would cost 1 Dogecoin to send. That is currently about 1/3 of 1 cent. It cant be beat!
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answered by ELITE (3,009 points) 2 6 13
Yes in my opinion but you invest in Crypto currencies you should know what Crypto currencies are and how they operate also how people makes money the investment.
Crypto currency investments is in different categories which are investments through mining or through trading,  if you invest in mining if you are very lucky you will make good money from it likewise trading which simply means you buy them when they are cheaper and sell them when the price goes higher, however,  there are periods that you buy them and the price falls in that case you will have to be patient by holding it till it rise back again.
Amongst the coins that are majorly trade is bitcoin and some newly launched coins that have great potential,  you also need to be updated frequently from Crypto market or via your wallet about this prices.

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