5 Reasons - Why you should not do trading in Cryptocurrency ?

1. No SEBI like Govt. body to regulate Crypto trading in India.

The primary objective of SEBI is to protect the interest of people in the stock market and provide a healthy environment for them. In India , there is no such statutory body to govern digital currency trading (cryptotrading) from the possible malpractices. It is always dangerous to trade , where there are no checks and balances to protect investor's money.

2. Many countries have banned Cryptocurrency trading .

Easy Money is never easy to make. Developed countries like UK & Turkey have banned crypto trading in their countries. India's neighboring countries China , Bangladesh & Nepal have also followed the suit . The reason being the wealth evaporation is too fast in crypto trading. Egypt , Algeria & Bolivia are few other countries who don't allow crypto trading in their countries.

3. More risk more loss

On 11 January 2021, the UK Financial Conduct Authority warned investors against lending or investments in cryptoassets, that they should be prepared "to lose all their money".On 14 April 2021, Bitcoin surpassed $64,000 for the first time. Bitcoin plunged from its peak to below $31,000 on 19 May in less than 40 days, Bitcoin had dropped in value by 52% to $31,000, Ethereum by 40%, and Dogecoin by 45%. Earlier , the 2018 cryptocurrency crash (also known as the Bitcoin crash and the Great crypto crash) was the sell-off of most cryptocurrencies from January 2018. After an unprecedented boom in 2017, the price of Bitcoin fell by about 65 percent during the month from 6 January to 6 February 2018. It shall happen again and again and again till you lose all your money.

4. Trading bitcoin could actually ruin your mental health

Robert Shiller, a Nobel Prize-winning economics professor at Yale University, has called the cryptocurrency craze “a marvelous study” of human behavior. For some people, that isn’t going so well. One of the strongest psychological factors that appears to influence crypto-trading is the fear of missing out (FOMO).Cryptocurrency traders are experiencing major anxiety disorders during major bubbles and busts, researchers suggest. Losing money is one thing but losing health is certainly not desirable.

5. Finally , Easy money is never easy money

It’s no wonder why Google searches for “easy ways to make money” yield a ton of get-rich-quick-plans, pyramid schemes, and courses from “marketing gurus” who have finally found the secret to making massive amounts of money online and doing it with as little effort as possible.The sad reality is that if you want to make a living online (or even offline) , you have to work . Easy ways to make money won’t making you money and won’t fulfill you.

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