While due to the recent market fall and uncertainties investors are opting for sell-offs which is surely painful, however, over the last year, Ethereum's (ETH) price climbed 1,150 per cent while Dogecoin's 13,310 per cent in the same stretch.
Industry experts say, as an asset class cryptocurrency is here to stay and the outlook is positive. Ravi says, 'We all know cryptocurrency is highly volatile and investors should be watchful. It is important to hold on to these investments for at least the medium term.'
He further adds, 'Investors are advised to invest a smaller percentage and this should also be a part of the basket of investments. Systematic investment based on the investor's ability would give returns over a period of time. But all investors need to remember that logical thinking and understanding of the technology driving cryptocurrency will be of utmost importance.'
Although cryptocurrency is not illegal in India, it still is not regulated - which in turns has created a lot of confusion, as there is no governing body to regulate it and the possibility of frauds and scams becomes rampant. That is why experts say it is important to have a thorough knowledge of the tech behind this asset to make more informed decisions. Also, the infrastructure supporting cryptocurrency is nascent as the exchange platforms handling these currencies often have technical mishaps.