This is one regular thing I see when I talk to people about Cryptos. I mean to people who have not yet ventured in this space. Skepticism and Fear.
I try to keep spreading around the word of Cryptos specially to my extended family and friends. This is the good time to get in so that when the markets boom they can benefit maximum and have some decent profits.
A few days ago again I was talking to a friend advising on doing some investment in Cryptos and the blunt answer was NO, on checking why such a strong denial the response was it is Illegal. Now this is not the first time I am getting such a response, I have got to hear this many a times when I advise people to buy Cryptos.
What is Illegal? The Indian Government has not set regulations around this space and hence it is considered to be illegal by people and the Governments also put it in that form to keep the fear going on in people. I feel sad when they turn so blind and not wanting to think beyond and understand why it is termed as illegal. I mean are you committing a crime, are you bringing harm to others, are you robbing some one? None of these then why is it illegal, just because it is a threat to the governments. You are wanting to invest your own money to gain profits from a source which allows you to so what is wrong in it.
Source
The other Fear that I have seen while talking to people is the volatile nature of Cryptos. Definitely with any investments comes risk but if you have good planning then you can be safe. And no other investments will give returns as quick as Cryptos so risk also will be higher in that case. For people who want to gamble, trade I feel they should just do it sensibly and be prepared to face the risk. For someone like me, I have kept a target for around 5 years and I am sure that despite of it's volatility it will still give me better returns then any other investment, so I am happy to take the risk.
For now I feel the Bear market is coming to an end and we are going to see some bright sunny days. So for those who have still not ventured in this space it is their loss. I can only advice but not force and all of us can only do that.
I hope people get some good sense and learn to be in control of their own finances rather then being puppets and blindly following the directives without thinking.
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