Should we Invest in Crypto? — Beginners Story

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  1. It is not safe — Yes, but remember, even mutual funds are subject to market risk, please read the documents before investing. Similarly, while Crypto might not be a secured investment, it is a high risk high return one. If you really want to get into it — read more about it, talk to people, get expert ideas, analyze and then take calls.
  2. RBI has banned Crypto in India — No. This is a grey area. RBI has nor banned, neither accepted it yet. In fact, recently few banks issued warning to their customers for Crypto trading. RBI issued a clarification around Bitcoin and cryptocurrency trading, informing banks that they cannot warn customers against trading, using an old order. This boosted the confidence of Crypto traders. Read more about this, here.
  3. It is illegal in India — No. Cryptocurrencies are not illegal in India yet. India does not have a regulatory framework to govern cryptocurrencies as of now. The government had constituted an Inter-Ministerial Committee (IMC) on November 2, 2017, to study virtual currencies. A conclusion is not yet made, but till it’s not illegal, we can consider it to be legal and hence it shouldn’t stop us from trading.

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Rishav Kumar

Rishav Kumar

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Building EarnKaro | 10K+ LinkedIn; 50K+ Quora views | Ex-Founder @UniversityExp (acquired) | Social: @08rishav