Cryptocurrency: Is it just an alternative investment idea or legitimate profit-making option?

economictimes.indiatimes.com:

cryptocurrency as a legal tender. Since then, the value of various cryptocurrencies has been steadily increasing and this led to more countries legalizing the use of cryptocurrency as a tender for transactions. By 2021, most developed countries the world over had accepted cryptocurrency as a legitimate mode of transactions.

In India though, the acceptance was marred with hesitation and roadblocks at every twist and turn and people’s interest in cryptocurrency started to gain momentum only with the formation of the first cryptocurrency exchange in 2013. However, since then, the growth of cryptocurrency in India has been truly staggering with industry estimates (May 2023) expecting around 15-20 million investors of cryptocurrency holding over $5.37 billion in crypto holdings.

So then for the average Indian then begs the question; how should cryptocurrency be looked at or treated? Is it just another ideal alternative investment option to boost someone’s investment portfolio or has it matured into becoming an actual profit-making opportunity?

For the age-old investor, stocks and bonds are the only things that mattered when it came to assets to own. Newer assets in the form of non-traditional assets like mutual funds, ETFs, cryptocurrencies, forms of collectibles, precious metals, mortgage backed securities, etc. have all found gradual acceptance in the portfolios of the modern-day investor.

Did you Know?

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