What are your views on investing in cryptocurrency?

@amirev777 (4117)
India
August 12, 2018 3:01pm CST
Cryptocurrencies like Bitcoins, Ethereum, etc have performed poorly this year, after a dream run in 2017. Do you think it would be still wise to invest in cryptocurrencies? Which crypto will do really well in 2019?
9 people like this
12 responses
@AKRao24 (27492)
• India
12 Aug 18
I am not interested in the crypyo currency for the reasons- 1. This is not a legal currency in my country. 2. There is no authority Guaranteeing this currency 3. It doesn't have its own mint where like other currencies where equivalent Gold is stored in that mint which equals to that circulating currency in the market! 4. You don't know with whom you are dealing. 5. There are more chances that this can turn out to be a big scam as it doesn't have any physical basis to accept it as money and property. So I don't believe in investing in such currency dear friend!
3 people like this
@amirev777 (4117)
• India
12 Aug 18
Ok, thanks for your views. But people have earned jackpots by investing in cryptos, and of course many have also suffered great losses.
1 person likes this
@AKRao24 (27492)
• India
12 Aug 18
@amirev777 , Please tell me a simple thing f tomorrow if you are duped whom will you complaint ? Who will and why will they entertain about your complaint! And against whom you are going to complaint?
@moichan (666)
• Philippines
13 Aug 18
Thanks for a very detailed explanation.
1 person likes this
@pgntwo (22413)
• Derry, Northern Ireland
12 Aug 18
"Past performance is no indication of future gains..."
2 people like this
@marguicha (208491)
• Chile
12 Aug 18
I donĀ“t dare invest in that because it is not an investment in a short period.
@amirev777 (4117)
• India
12 Aug 18
Yes, I do agree with you that Investment in cryptocurrencies for short term is very risky since they are very volatile.
1 person likes this
@marguicha (208491)
• Chile
12 Aug 18
@amirev777 Maybe young people can invest part of their savings in that.
@yukimori (10157)
• United States
12 Aug 18
@marguicha They're better off investing in index funds, honestly. I hold a few different cryptocurrencies, but I won't put a cent of my own money into "investing" in any of them. My portfolio is worth about 25% of what it was back in December even though I've been steadily receiving payments in the three main currencies I hold. Seems like a surefire recipe for loss if you ask me.
1 person likes this
@akalinus (39434)
• United States
12 Aug 18
When I hear about cryptocurrencies, it is always in relation to millions of dollars worth being stolen.
@amirev777 (4117)
• India
12 Aug 18
Hi, thanks for your response, but cryptocurrencies like Bitcoin are quite safe and cannot be easily stolen. But investing in cryptos is very risky since they are very volatile.
@akalinus (39434)
• United States
12 Aug 18
@amirev777 I keep hearing about how they are stolen so don't understand how they are safe.
@Freelanzer (10754)
• Canada
12 Aug 18
Not for me. My money is already invested where I don't get huge returns but it is much safer. For younger people I guess it is okay to experiment with.
1 person likes this
@amirev777 (4117)
• India
12 Aug 18
Yes you are right. They say you should only invest so much money in cryptocurrencies which you can afford to lose.
1 person likes this
@Icydoll (36848)
• India
12 Aug 18
Hmm I'm not into these crypto currency ..I stay away from it .
1 person likes this
@May2k8 (17621)
• Indonesia
14 Aug 18
I collected it for free, and a few of them I exchange to my local currency then withdraw it to my bank so the rest I held until the price really skyrocketed.
@yukimori (10157)
• United States
12 Aug 18
To sum it up in a single word: NOPE. It's not surprising that cryptocurrencies have tanked this year. The boom back in December 2017 was driven entirely by speculation and people hoping to buy into it and turn a profit. There really isn't a lot to be said for the intrinsic value of any cryptocurrency at this point, except maybe Ripple and the way the developers are aiming to have it used to improve transaction times and reduce processing costs for major banks. Like I said in a comment, I won't "invest" my own money in cryptocurrencies. With the way things are going, it's pretty much a guaranteed loss, at least in the short term. There's no guarantee there will be an upswing for any individual cryptocurrency. Might as well start buying tulip bulbs at this point... at least those provide something pretty to look at when they bloom.
@AkoPinay (11564)
• Philippines
14 Aug 18
I do not invest in CryptoCurrency, I only collect them FREE.
@genpius (467)
• Nigeria
14 Aug 18
Cryptocurrency are turning out to be a short term gainers than long term now. Due to so much coins coming up, fund in crypto market are being channelled to those coin that why bitcoin and ethereum has lost some value. Based on investment, crypto can get you rich in just hours and can make you poor in just an hour. It is more now like gambling but if you good with forex, you can apply same to make money on crypto
• Philippines
14 Aug 18
I heard a lot of people got rich by it.
@amirev777 (4117)
• India
21 Aug 18
Hi, yes you are right. But only those who invested early, before 2017. Year 2018 wasn't a good year for Bitcoin and other Cryptocurrencies.
@Nkoyof (61)
12 Aug 18
I'm not interested in cryptocurrencies because it's not legal and not save at all.