nhnhbg Is It Really Safe to Invest Your Fund in Cryptocurrency – Money Up Down
Connect with us

Cryptocurrency

Is It Really Safe to Invest Your Fund in Cryptocurrency

is cryptocurrency safe?

People are still wondering whether they finally shift their fund to crypto like ‘others’, should wait some time more. The question becomes even more serious when you watch movies like Squid Game where the thousands of investors get robbed after investing in a crypto named Squid.

Well, that’s nothing but a story! You need to understand the whole ‘system’ properly and you’ll get the answer, whether cryptocurrency is a safe place to invest. Let’s dig into the matter.

Read More :   Bitcoin Price Dropped by 10% to Three Months Low — Investors are in Shock

It’s A Volatile Market

The first bitter truth that you must understand is, crypto market is highly volatile — just like stock market, and naturally you may find sudden fall on price after you invest. So, it’s never risk free to invest in any crypto. If you have enough fund to wait for months or years, then you might enjoy the profit, even though the price is in negative at this moment.

Read More :   Beginners Guide to Start Cryptocurrency Trading for the First Time

It’s Not 100% Secure

No, don’t get panicked! Like any other digital product, it also can be hacked. But, the good news is, it takes control of at least 50% nodes of a crypto to use it in your favour. It means, even if a crypto has around ten thousand accounts, it require to get access of five thousand accounts to hack it. Believe it or not, it’s next to impossible.

Read More :   Crypto Will Not be A Legal Tender in India — Rather It Can be Banned

Losing Access to Your Account

Rumours often make people scared where people worry about losing access to their investment account. Well, it’s not that it’s totally baseless. It happens. But, if you keep your private key securely in any pen-drive or any reliable online app, you can regain access to your account with some formalities.

More in Cryptocurrency