Investing in Cryptocurrency: The Good & the bad side


No regulations, investors can be easily defrauded

According to data from crypto exchanges, there are approximately 1.5 crore Indians who have invested in cryptocurrencies and are currently holding assets worth Rs 15,000 crore. There are 350 startups who operate in blockchain and crypto.

Crypto exchanges, WazirX, CoinSwitch Kuber and other exchanges, have seen a big rush in demand from users and crypto exchanges are advertising heavily on investments.

There are now thousands of unregulated virtual coins in the market — some of which serve no purpose and were created just for fun.

Therefore, the worrying factor is that novice investors may end up investing in low-value cryptos thinking they are valuable. Since it is an unregulated market, there are a lot of ways in which investors can be defrauded.


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