![]() Investing in cryptocurrencies is similar to penny stocks, where you invest funds (play money) you can afford to lose.ĪLSO READ | ‘Biggest disruptive’ impact by Cryptocurrencies, Central Bank Digital Currencies in 20 years predicted: PwC Diversification key to building wealthĮdul Patel, Co-founder & CEO of crypto trading platform Mudrex, gave a “resounding yes” to investing in cryptocurrencies. You must never borrow and invest in cryptocurrencies for the personal finance portfolio. Individuals who must invest in cryptocurrencies could allocate 1%-2% of their portfolio to them.It staggers the investment in cryptocurrencies over time, thereby reducing the cost of purchase. Individuals who are first-timers in cryptocurrencies could invest through the systematic investment plan or SIP.There are instances where a lack of regulation in gold loans and microfinance have led to a crisis. You could wait until clarity emerges around regulation and taxation before including cryptocurrencies in your personal finance portfolio. Cryptocurrencies are not legal tender in India. ![]() It’s similar to investing in penny stocks, which may give extremely high returns in a short time, or you could lose the entire amount invested in them. ![]()
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