The Bitcoin market is really a hyped-up one that is instinctively leading us to too many risks; price unpredictability is just one of them. We understand that your yearning to get an investment with high returns may take you to this market, but trust us, investing here would only put you in some uncertain risks. So, in case, you were deeply tempted to invest in Bitcoin, reading these reasons would surely compel you to amend your decision.
People, these days, are desperate to invest in anything that can bring them instant riches. But, is that really a reason to step into the world of digital currencies? Well, don’t be fooled by what they show you, know some of the major risks of Bitcoin, which can actually put you in trouble, once you have stepped into the world of digital currencies.
- Intense Unpredictability
Don’t be fooled by them, there is way too much risk than you think. Investing in Bitcoin is risking yourself to the extreme, as the prices are extremely volatile here. Many top experts even are skeptical about it being an investment, in real. The fundamental analysts don’t find enough of an ecosystem surrounding Bitcoin to acclaim it as an investment.
Aren’t people just making such an imperative investment decision with inadequate information? Of course, they are, which in turn, will just be taking them down in the end. One might consider it one of the best short-term investment plans, but certainly, it is not.
- Hackers Seizes it Easily
Cryptocurrencies are easier to lose – This question matters a lot, whether do you keep the bought cryptocurrencies in the smartphone’s wallet or in the exchange? Well, the former route is the better option, comparatively. If we believe the researchers, there have been cases, where billions of dollars worth of Bitcoin were lost on exchanges. Of course, the hackers snatched it away. Isn’t that a big reason to secure your Bitcoin inside your Smartphones? Imagine how much can one loose to hackers, just with a few clicks. Ask the experts, where to invest money, and they will never suggest you investing in Bitcoin.
- Security Concerns
The Securities and Exchange Commission and Consumer Finance Protection Bureau have become more active in the cryptocurrency oversight. Moreover, they have been warning for a very long time about the frauds that are occurring in the exchange. So, don’t you think we all should have understood by now, the jeopardy of being a part of this market? We mean, how can anyone still exist at a place, where unsuspecting investors and fraudulent activities are everyday’s matter?
- An Unfettered Space
Don’t enter this unfettered space- Bitcoin market is not regulated by any bank or government entity. There exists no big authority, which can be reached for grievance redressal. You must know how the bank compensates when you buy something with a credit card and get ripped off, right?
Don’t expect the Bitcoin Exchange to compensate anything when you are completely ripped off. Consider it impossible to get the money back when you are in this market. Those who are already stuck in this market understand the pain of investing through unregulated schemes. So, experts are choosing not to recommend this as an investment with high returns.
- Fees are Charged
The idea took the turn soon- So, initially, the idea was to create a back alternative, which could provide people the option of paying low fees. But, later it changed. What didn’t change was to cost a certain amount of the people. Trading cryptocurrencies will still cost you, the percent of the total transaction amount, which actually depends on the exchange. The fee charged depends on the total exchange done on the Bitcoin, worldwide. But, the more people trade in Bitcoin will lead to a higher fee, which simply means more fee will be charged. So, it is anyway an unprofitable deal for anyone.
Bitcoin might seem like an investment with high returns, but, after digging deep inside one knows how jam-packed this market is. How can anyone ignore all of those dicey paths, which are simply inescapable? It is therefore suggested to keep digital currencies like Bitcoin out of your list when it comes to investing in a good place.
All we would advocate is to probe into the pros and cons of this market before actually investing here. Don’t get fooled by the ‘made-up’ benefits that they flaunt to capture more investors, every now and then.