The recent phenomenon of cryptocurrency has taken over the world like a storm. There is no doubt that this phenomenon is receiving a lot of attention. Being a fundamentally new technology, cryptocurrency is fast catching on. With celebrities like Elon Musk and others lending their support to crypto, there has been a flurry of top apps for cryptocurrencies being launched all around the world.
However, many investors have expressed concerns over the viability of cryptocurrency as a long-term investment. Nevertheless, despite the uncertainty of the present regulatory scenario in India, it is estimated that there are over 15 million cryptocurrency investors in the country.
Before investing in cryptocurrency, though, you must be aware of the risks and return of investment. In recent months, there has been a massive spike in the value of popular cryptocurrencies like Ether, Bitcoin, and Dogecoin. They have proved to be an excellent return on investment, which has fueled the interest of people in digital currencies as a whole. However, there is a risk of fluctuating valuation associated with cryptocurrencies that often concerns investors as this can leave you exposed to huge losses. For example, Bitcoin went from a record high in April 2021 to a four-month low in May. The value of Bitcoin fell by almost 50%. Ether also experienced a sharp drop of 57% in just one week’s time in May, the lowest valuation of the currency since January 2021.
There is no doubt that there are many benefits, and success stories are already flying around about how much money investors can make with cryptocurrencies. However, one has to be attentive to the risks of cryptocurrencies as well. Risk managers are still studying the risks posed by digital currencies.
Therefore, it is advisable that before investing money into crypto exchanges, you must remain mindful of the risks of conducting big transactions. Consider any weaknesses in the crypto infrastructure; remember that they are vulnerable to being hacked and can be potential targets of criminal activity. The most considerable risk is the fluctuating value of these assets.
Being knowledgeable about these risks will help any cryptocurrency investor assess their overall gains and losses.
When it comes to cryptocurrency in India, if you want to learn more about the risks and returns associated with cryptocurrencies first, Unluclass has the perfect solution for you.
Learn about Cryptocurrencies Online
Now that you know that crypto trading is legal in India, let us talk about ways to educate ourselves about cryptocurrency. If you are looking for an online cryptocurrency course, you must check out Unluclass’ upcoming online course that tells you all about cryptocurrencies.
With the help of this course, you will be able to learn things like cryptocurrencies in India, types of cryptocurrencies, and cryptocurrencies portfolio management. The course will also help you keep yourself updated about the changes that are happening in the cryptocurrency market, especially in terms of regulatory changes. Therefore, you will learn about Bitcoin price prediction, free bitcoin mining, Bitcoin ban in India, etc. Stay tuned!