Why bitcoin trading is a risky affairs for Indians


Bitcoin has emerged in market as the Cryptocurrency that allows to trade and exchange money using bitcoins. Bitcoin organisation was launched in late 2008 as a digital medium to exchange money peer to peer electronically. With the exponential rise of inter-network and e-payments method, bitcoin too evolved with time. With the start of 2011, Companies started to accept payments in form of bitcoins.

You can estimate the popularity of bitcoins with the fact that in early 2013 one bitcoing was sold at a cost of 22 US Dollars and now it has crossed the 15000 US dollars mark. There has been almost 700 folds growth in bitcoin value since 2013. If you had invested 10000 Indian ruppes in Bitcoin in 2013, Your money would have become 70 Lack Rupees.
That is one eye catchy growth in investment that one can not afford to ignore.

In recent years bitcoin has become popular in India, and people are more than intereset to jump in bitcoin trading business. Since India is a very vast market of Internet users, so there is a huge chances of people getting either big profit or indefinte loss due to the unpredictability of the bitcoins.

There are so many websites that offers you to trade one to one bitcoins , Only thing that you have to do is to create your account, link your bank account and get your KYC verified and start depositing money in form of different bitcoins currencies , and make a withdrawl when you a see a profit. It takes generally one week to get your KYC documents verified. However now the waiting time has increased to almost 20 days due to the more and more people taking their pedals out to swim in the Bitcoin sea. These sites also provide bitcoing trading training sessions to help you understand the points where the probability of profit is certain.

But before you dive into the bitcoin sea its better to take security jacket pumped up with the air of knowledge to avoid drowning into deep loss. You should understand What are the risk involved in the bitcoin trading, specially in India.

There are concern over central control on cryptocurrency, that is why supreme court of India has issued notice to RBI to hasten the regulation and security to control the accountability and unregulated Bitcoin (Crypto money) trading and transactions. Trader will be liable for the loss of money due to bitcoin trading, no court or government will entertain the case or plea to get the victim the compensation. According the government the Cryptocurrency is palpable and subject to risk.

Since the value of Bitcoin is on its all time peak, we can conclude that most of the appreciation of bitcoin commodity has already been happened.There is a very rare chances to get the profit out of it as there is very little juice left to suck. It is your hard earned money that you are going to invest, you should also check the source and history of the domain of the website where you are making the deposits. In a recent attack on such websites, withdrawal of money has been locked and crores of money of traders is already locked in the e-wallets of these trading websites. They can not withdraw their own money. So be aware and get yourself a good trustworthy boat that can lead you to cross the mysterious bitcoin sea safely.Have patience before you invest and get the good knowledge of all facts related to bitcoin. This is about your money.

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Vivek Upadhayay

I am never satisfied with what I have, and never Doubt on what I can conquer. I do not just look only in straight direction, because the world of wisdom is walking beside me and I also discover the sully soul on my other side, I am a camouflage of both. I turn around and try to walk backward to see what I keep within, deep, behind my back and accept the strokes wind puts on my face and make myself ready to get shocked any moment in life, because Things will change their shape and dimension in coming years, Good will become bad and bad will become the best. because it is what I have seen yet. Even me will not remain me, but my instinct will never change neither my love for certain things. So I surge up into the territory of stars, out of this world and try to find who I am today ?

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