Why Investors Closely Monitor All Crypto News
In the latest budget release for the year 2022, entire India, as a nation was left speechless after our honourable finance minister announced a 30 per cent tax on any transaction made, that involved blockchaintechnology. For those of you who are unaware, blockchain refers to a type of technology that allows people to store digital assets. Holders can possess these assets in the form of either a collection, known as nfts orcoins, known as cryptocurrency, which is the full term for crypto. Crypto refers to various digital coins that act as a medium of exchange during transactions. For crypto to act as a medium of exchange both parties need to be willing, since it is not a completely legalised or recognised form of currency, any seller or buyer has the right to refuse payment through crypto. This market, in today’s times, is highly volatile and investors are always on the lookout for the latest crypto news.
Cryptocurrency is known to provide people with unnatural gains and hence more and more people are investing in it. However, even the most experienced crypto traders stand by the rule of “invest only what you’re able to lose. ” This phrase comments on the volatility of the market and how nothing remains stable ever. There is always a very high possibility that a coin that is providing huge gains today, may suddenly plunge and take down theentire invested amount, pushing an investor towards major loss.
It is because of the above-mentioned factors that it’s very important that people invest in the crypto market only after being completely sure of their decision and even after investing, they must follow crypto news carefully to know when to invest more and when to take out
Currently, in India, there are about 12 million crypto investors. Most of these are below the age of 40 since people above that age wish to invest in safer options like mutual funds, SIPs etc, for their retirement goals and savings. People above the age of 40, also often have the responsibility of a family, kids etc, whereas the younger population like those in their 20s or early 30s do not have much liability and can even relatively larger amounts because even if they lose it, it won’t push them into great debts and add a fiscal burden.
Like any other market, crypto is also extremely risky and any investor or potential investor must be thorough in their research and invest very carefully and Cautiously