[Reward] Is cryptocurrency a good investment?
Hey Aussie,
Cryptocurrency has taken the world by storm, especially during the last few years. Do you have any experience investing in cryptocurrencies? Can you share your thoughts on the topic of Is cryptocurrency a good investment?ASIC research found that 44 per cent of Australian investors they surveyed held cryptocurrencies. A quarter of participants said crypto was their only investment. For some investors, one of the biggest appeals of cryptocurrencies is its decentralized nature. It’s not controlled by central banks or governments who like to print money and generate inflation in fiat currencies such as the U.S. dollar or the euro. Buying cryptocurrencies also creates the potential for large gains on your investment.
However,Cryptocurrencies have been extremely volatile so far in their relatively young existence. They aren’t backed by anything, so the price they trade at is determined by the whims of traders. There are also security issues with cryptocurrencies，there have been notable hacks involving cryptocurrencies. It is often difficult to recover stolen funds.
On Monday, the federal government announced Australia would become the first country to chart the number, type and underlying code of available cryptocurrencies. It will “token map” the Australian crypto asset sector as a first step towards fresh regulation in the area, which the tax office estimates more than one million people have “interacted” with since 2018.
What's your opinion about cryptocurrency？
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- Is cryptocurrency a good investment?
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⏰Activity Duration
24 Aug, 2022-31 August, 2022
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
The recent rout of Cryptocurrencies have seen a lot of investors badly burnt. From a high of USD68,000, Bitcoin, the granddaddy of Cryptocurrencies is now worth only USD 21,000.
However cryptocurrencies are increasingly gaining acceptance by institutions. Even Blackrock has recently entered into a partnership with Coinbase to give institutional clients access to Bitcoin. PayPal and Square are also allowing users to buy cryptocurrencies on their platform. There is Coinbase, a US company that operates a cryptocurrency platform.
I believe that Cryptocurrencies especially Bitcoin has a place in a diversified portfolio of assets. However due to its high volatility, I would not invest more than 5% of my funds. It is a Buy and Hold kind of investment for me. Who knows in the future, Bitcoin maybe worth more than USD 100,000 and I wouldn't want to miss out on that! 😍😍😍🚀🚀🚀🌜🌜🌜🌈🌈🌈💰💰💰
@Tiger_AU @TigerStars
TA is applicable for entry/exit
With beaten down prices, when if not now?
BTC/ETH will never go away unless total ban or 0 interest. Possible?
There is NO real fully functional business case for Crypto. Add to it porous regulation. Anyone can publish a whitepaper (templates available) and hire some cloud infra and boom some Alt Coin is in the market. Hire some YouTubers, market it, enter Whales, pump it and then cash out by dumping. It took a while to study the pattern and modus-operandi at a cost. No regrest, experienced it. Wont recomend it until Crypto is backed by Govts and where a Physical asset (like Gold/Lithium) is pegged to it. But yes, if one has extra which can be thrown away, crypto is right place to try your luck.
Stay clear if no idea. Stick to meme stock if you want fast buck
matic
Loopring
And the bloody dog coz f it