is Cryptocurrency Investing or Gambling?

DO YOU KNOW?

  1. What is a cryptocurrency?
  2. Is Cryptocurrency illegal in India?
  3. Why was cryptocurrency created?
  4. Are there only positive aspects to cryptocurrency?
  5. Should young people invest in cryptocurrency?
  6. Trading in cryptocurrencies is gambling?
  7. Is cryptocurrencies legal all over the world?
  8. Is bitcoin a cryptocurrency or another name for cryptocurrency is bitcoin?
  9. What is transparency in crypto or why crypto is the future of the new generation?

LET’S BEGIN:-

cryptocurrency

What is cryptocurrency?

A cryptocurrency is a currency based on an algorithm and This has no onwner that means it is an independent currency .This currency is not under the control of anyone authority. Like rupee, dollar, euro or other currencies, this currency is not governed by any state, country, institution or government. It is a digital currency and the process used in it is cryptography .It can also be used to purchase goods or to purchase service.

Is bitcoin a cryptocurrency or another name for cryptocurrency is bitcoin?

cryptocurrency

Yes, Bitcoin is a cryptocurrency. bitcoin is just one among all of cryptocurrencies. there are more than 5000 cryptocurrencies in the world (as of April 2021)

Why was cryptocurrency created?

The effects of such a huge economic disaster in 2008 were dormant and coins were rapidly and rapidly losing value. In 2009, the so-called Satoshi Nakamoto, a man whose identity is still secret, created the first cryptocurrency. And it was created for the people to self-control their money, without relying on companies, banks, or governments and their fees and controls.

Are there only positive aspects to crypto-currency?

No, there are both positive and negative aspects to the case of cryptocurrency because of high volatility in the crypto market

Not at all, This is not right. One way of being a good trader is to do opposite what gambler do If you see the gamblers, they start acting without thinking, and they do this for the thrill of earning money. This is bad because you remember big wins, but you don’t remember consecutive defeats. If you want to earn money continuously from trading, then you have to keep a careful record and manage the risk. At the same time, emotional control is also necessary

Is cryptocurrencies legal all over the world?

No, Some countries in the world have banned the trading of cryptocurrencies and on the other hand, some countries have allowed it to be kept in their wallet even after banning cryptocurrencies. but in MOST of the countries, it is legal activity

Is Cryptocurrency illegal in India?

No, trading in cryptocurrency is legal in India

Should young people invest in crypto?

Many people invest in cryptocurrency for fear of missing out (FOMO). And the number of adults is more in this category. They are easily trapped due to a lack of market knowledge. They buy it at an unconditional price and start selling when the price start falling in fear of losing money. But if adults start investing in cryptocurrency after research then they can make a good profit in cryptocurrency

Yes, if adults think of starting investing in cryptocurrency after their research then the answer will be yes they can start investing in cryptocurrency

What makes crypto different to others?

Their volatility rate makes them very different from others, with cryptocurrencies being more volatile than others, such as the stock market. Here traders make more profit in comparison to other markets, such as the stock market, etc.

What is transparency in crypto or why crypto is the future of the new generation?

Most of the cryptocurrency uses blockchain technology to record their transaction and Blockchain is known for their ability to recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

Cryptocurrency is not the future. It is present. The cryptocurrencies are already here to rule. cryptocurrencies are also seen to rule the future of the new generation because of the following reasons:-
1. Replacing paper money will not be easy, but it has the potential to replace paper money
2. For a short time, electric car company Tesla started accepting bitcoin as a payment option

Conclusion:-

If you take cryptocurrency as gambling then it behaves in the same way and if you use it for a good purpose then it gives you the power to control your money from inflation and protect it from decreasing value. Will you start as an investor in cryptocurrency or as a gambler? The Selection is yours.

Thanks For Reading
Abhishek kumar singh
Blog writer

1 thought on “is Cryptocurrency Investing or Gambling?”

Leave a Comment

Your email address will not be published.