Cryptocurrencies have become incredibly popular in recent years, with many people getting rich quickly by investing in them. However, just as many people have lost their investments equally as fast.
The volatile nature of cryptocurrencies and the trading platforms that allow investors to buy and sell them has led many to question whether investing in cryptos is simply gambling.
While fans of real gambling can look to websites like captaingambling.com for some tips on how to be profitable, we will look at the crypto market and determine whether crypto investing is just gambling or a smart choice for potential investors.
It may seem like the value of certain cryptocurrencies is completely up in the air, but this is not entirely true.
The value of a cryptocurrency is related to supply and demand and projects related to particular cryptos, much like any other real-world assets.
Following trends, hedging investments, and putting money in at the right time can make crypto investments profitable and reduce the risks typically associated with them.
While there is certainly some chance involved in the crypto market, the same can be said for stocks, bonds, gold, and any other kind of commodity you could invest in today.
However, one of the biggest problems potential crypto investors face is the fact that this market is completely unregulated and unsupervised.
With no one looking out for their best interests, investors could end up significantly damaged or scammed out of their money with no one to turn to for help.
Many serious investors stay away from the crypto market because of the added volatility that comes from the potential to get scammed.
The promises of millions of dollars in returns and massive growth over short spans of time is mostly just fantasy, even in the crypto market.
The only way to actually make significant money from cryptos is to get incredibly lucky or spend a lot of time and dedication to trading them over extended periods of time. Get-rich-quick schemes and buying brand new cryptos “guaranteed” to have a 10,000x return within a month are typically naive and unlikely to lead to profit.
Investing in cryptocurrencies is not necessarily just gambling, provided investors spend enough time researching the market and learning about cryptos and the way they function.
Buying the right coins at the right time and selling them at the right time requires significant expertise, and only a handful of top traders know when the right time is.
As a result, starting small, not getting ahead of oneself, and gradually learning about investments without falling for promises of overnight riches is recommended for those looking to invest in cryptos.
»Crypto Investing or Gambling?«
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