What are your reasons for not investing in cryptocurrencies?

shubham

I am trying to know if there are any reasons for not investing in cryptocurrencies. I found a lot of advantages but are there any serious drawbacks or reasons not to invest?

vishnu

Yes, there are a few reasons not to invest in crypto. The crypto markets are highly volatile and can make upside or downside movements in a short period of time. Further, cryptocurrencies are not well-regulated. Also, you cannot transfer your crypto assets to your heir after you die or be incapacitated.

chetan

I have seen people lose their long-term savings when Bitcoin fell from its high of about $70k to just $16k in about a year. The loss of over 75% of value in a year would definitely scare anyone.

gulab

I was earlier scared of the hacks, scams, and other illegal activities in crypto but with time, I have set some standards which help me avoid them.

Cryptocurrencies do have some disadvantages, there are also a lot of risks such as price risk, cybersecurity risks, and systemic risks associated with them.

I have been investing in crypto and can tell you that if you follow simple steps, like following cybersecurity practices, using secure wallets, invest in blue chips, you can easily outrank the disadvantages of crypto.