Reasons You Should Not Invest In Bitcoin

You might have read several stories online of people becoming millionaires because of Bitcoin and figured you could do the same. Before you start investing in the most volatile and risky market out there, here are a couple of reasons for you NOT TO INVEST:

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You're afraid of the risk

There is no such thing as easy money and there never will be. Bitcoin and Cryptocurrency is a very risky market. Losses of 50% in one day is very common. Always remember, the higher the risk, the higher the return. If you cannot bear to watch your $1 turn into $0.99 then this is not for you. Yes, there is a chance that you can triple your money, but that takes time, effort and an iron stomach for risk.

You Don't Want to do the Research

Like I said, there is no such thing as easy money. If you want to succeed investing you have to put in the time and effort into researching about a cryptocurrency. Read their whitepaper, value proposition, team members, news about them, etc. Otherwise, you are bound to lose money if you simply buy randomly or listen to people on forums and trollboxes.

You Don't Have Any Other Investments

Putting all your savings into a single investment instrument is very risky. Putting all your savings into the riskiest investment market in existence is suicide. Before you start investing in cryptocurrency, hone your skills in bonds and stocks first. These are more stable and will help you learn the basics of investing.