Digital assets are considered an alternative to fiat money. Instead of using government-issued currency, you use digital coins to make investments as well as pay for goods and services.
With the current trend of crypto that started in the early days of 2020 when Bitcoin was at its all-time high, the mainstream adaptation of these digital currencies started making headways in the public. Nowadays, many people have started using crypto and many are considering dipping their toes into investments.
However, with its speculative and exclusive nature, many are still hesitant and ask the question: is buying crypto gambling? Should digital assets be considered as such? Find out here as you browse through Casino Days India.
Crypto as an investment
There’s remarkable growth surrounding the crypto sphere as it continues to expand not only with new coins but with decentralised finance (DeFi) and non-fungible tokens (NFT). It’s now considered a good investment because of the many developments introduced in the crypto space today.
Here’s an in-depth explanation of the revolutionary features of cryptocurrency and how they can shape the future of finance:
It is a transformational technology
With blockchain technology, cryptocurrencies can function in a decentralised manner and eliminate the presence of middlemen.
It’s considered a potential gamechanger in the digital sphere, especially in computer-related fields. Moreover, it’s also known to be helpful for banking and other financial institutions that offer advanced services to their clients.
Having crypto can be beneficial for you and is considered an investment in this situation, especially if you believe in the future of digital currencies. Not only do you get high returns on your investments but you’re also supporting the future of this technology.
The assets are secure from hacking
Blockchain technology is supported by sophisticated cryptography giving you the peace of mind that your assets are secured. Hackers will find it hard to access your accounts, especially if your assets are stored in non-custodial wallets.
Unlike banks that are susceptible to hacks, your money is well protected in digital wallets. Moreover, you don’t have to worry about overhead charges by keeping your money in centralised institutions because cryptocurrency supports peer-to-peer transactions. This situation also allows you to invest in the future of digital payments as the world transitions to digital assets.
Long-term store of value—that’s what cryptocurrency has to offer. Many people want a reliable asset that they know will yield profits in the long run without fearing inflation to diluting the value.
That’s the difference that digital coins between fiat money. There are no regulations that affect the currency. This means that the assets cannot be confiscated by the authorities without the cooperation of the owner.
In the first place, this factor is what made Bitcoin popular among its users. It offered an alternative for people to store their financial assets without fear of retribution from the government and other economic events such as market crashes and hyperinflation.
The future of blockchain technology
At the moment, blockchain technology is in its early stages. There will be many developments in the future for its stability and reliability. However, there’s no denying that this is the future of online payments once the wrinkles are ironed out.
Investing in crypto means you believe in the future of blockchain technology and how it will change the payment systems for the better. Not only will it be used for profits and peer-to-peer transactions but also payments for goods and services. That’s a good thing to look forward to for the future of digital assets.
The risks involved in using crypto
Plenty of benefits are associated with cryptocurrency but there’s another side of the debate when it comes to this. Similar to real-world assets, dipping your hands in the crypto sphere also comes with its fair share of risks. Learn more about it here:
The risks attached to investing in volatile assets
Cryptocurrency has only been in the digital sphere for a decade. Because of this, the value of each coin can be volatile depending on the market trend and supply cap of the currency. Additionally, they’re not tied to real-life monetary laws, making their nature even more susceptible to economic fluctuations.
Investing in crypto can be a form of a gamble, especially if you’re going to place a lump sum of money on your order.
The more you invest without thinking things through would mean you’re gambling your savings away. It’s better if you invest money that you can afford to lose so that when the asset fails, there’s not a massive loss to be incurred.
Trading is merely speculation
The crypto sphere is still dominated by speculative trading because of how volatile the assets are. One day Bitcoin and other altcoins are faring well until it comes crashing down the next. You cannot predict what will happen in the long run and that can make things more of a gamble than an investment.
Although there are advancements in the crypto sphere that aim at utilising digital assets for daily life, the investment market is still riddled with conjectures. This can result in market bubbles that investors wouldn’t like.
There are casino sites that offer crypto profits
Another way you can profit from cryptocurrency other than investing is gambling in casino sites that offer it as a mode of payment. This is a gamble using digital assets because you’re wagering your coins in the hopes that you can enlarge it with a few games like slots, baccarat, blackjack, poker and so on.
Although it can be a form of investment, it’s still an unstable way to earn crypto assets because you’re relying on luck to make you profit.
The bottom line: Is buying crypto gambling?
That being said, is buying crypto gambling? The answer to that depends on what you’re using your investments for. If you’re merely trading crypto for overnight returns then you’re gambling your savings away. However, if you’re strategising properly on how you can invest and purchase crypto from order books then you’re investing in crypto and its future.
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