Is it a smart choice to invest in Bitcoin right now for me

Current Scenario on bitcoin investment

Is it a smart choice to invest in Bitcoin right now for me?
Disclaimer: I am not a financial advisor and this is not a financial advice for any one. I love block chain technology and have idea on how this technology could be used in lot of great use cases.so if you plan to invest in bitcoin consult your financial advisour.
Bitcoin investment outlook
Current Scenario on Bitcoin 

One most important thing to consider before investing in Crypto assets
Currently Bitcoin is not a legal asset in India, That means Bitcoin is not yet fully established as an official way of payment processor by Indian law.Government of India already has warned by national news papper to people few times through public notices that investing in bitcoin or any other crypto currencies or ICOs is highly risky and people should attention themselves from investing on these since these assets are not yet regulated by any agency. However, Government of India has not classified Bitcoin as illegal asset.So investors are themselves responsible of their investment not Government.if any fraud and loss happing with your asset govt.will not take action.


Current Scenario on  Bitcoin Investment .
Considering the price movement of bitcoin attract lots of people for investment but what is this realy best or somthing hide? If you have money that you think better for it’s bcoz its your hard earn and you take best desizion,Fine even if it is lost then you can put in to bitcoin.
Best way would be to do money averaging. For example if you have Rupee or USD of 5000 to invest then you can average it to 2 investments of each 2500$. Example Invest 2500 USD of the capital during first 1 or 3rd weeks and rest on next 4 weeks.
 


Other alternative currencies (Altcoins) for investment .

First You need to know one more important thing that making payments or transactions though bitcoin may not be a good idea since it incurs high network fee and transaction times are also high.
So you could look for other crypto currencies such as Litecoin,altcoins,ripple,xrl, vertcoin, verge, monero etc.For example, litecoin has an average fee of 20 cents where as bitcoin has average fee of around 1 to 19 dollars.


There are some other best crypto ideas to which one can invest to secure your asset to get high return such as IOTA ( based on Tangle), Power Ledger ( Trying to solve the electricity problem through block chain), Lisk, NEO, EOS, Electroneum( Privacy Coin) etc.

I personally  would to like  suggest people not just to invest money on block chain specific companies but they should also try to learn the kind of problems we have and these cryptocurrency specific companies like blockchain ant other are trying to solve.
i suggest people to go through the bitcoin white paper system to know how block chain technology works

Current Situation of Bitcoin in India
Bitcoin is neither legal nor illegal. However, remember it is not recognized globally or nationally as a currency by the government of any country. At present, time the only thing the government wants from you  is that you should pay your due tax from Bitcoin earnings.
Is really investment in bitcoin is smart choise for wise investor
No It never is a smart choice to invest in Bitcoin or any other cryptocurrency. However, due to the funtastic and mind boggling returns on the bitcoin,Lots of  people are getting more and more focus towards it. Please be aware that you should invest only what you can afford to lose.Cryptocurrency may be future currency but at persent time major country of world not accepting as a legal tender thats why i warn to you its is not smart choise for your investment,

Now its over, you have your answer to the question, do you want take a little time to listen to my Bitcoin story

Dear Reader Although i was aware of Bitcoins since the last 3 years when prices were trading at about Rs 15,000 to 20,000/- per coin, I was really hesitant to buy it, as i was “afraid” to buy. Next few days later it reached to up to Rs 1,00,000/- and i was still “afraid” thinking that it will collapse. On and on it reached up to Rs 3,50,000/ to 4,00,000- per coin.I purchased Rs 15,000/- worth of coins from localbitcoins.com. 

That was in October 2017. The prices started to rise and I bought Rs 10,000/- more worth of Bitcoin in two installments. Total I invested Rs 35,000/- and my principal became Rs 50,000/- in just a week. Neat profit of Rs 15000/- (25%) in just a week. Then suddenly, my profit decreased to Rs 2500/-. I got scared and sold off my coins pocketing a profit of Rs 2,500/- But then the price of Bitcoin increased from Rs 4,50,000/- to about Rs 6,50,000/- in just a single day.  

I cursed myself for selling my coins,I invested Rs 50,000/- in Rs 5,000 installments again. And my present profit is Rs 42,000/- (almost 100%) in just a month and half.  I am anticipating Bitcoin to reach as high as Rs 28,80,000,00 lakh per coin within 10–13 years.But still i never suggest to anyone invest in cryptocurrency,

But still i never suggest to anyone invest in cryptocurrency,
Conclusion:

Should you buy? I would suggest “YES”. But at your own risk, of course. Remember I am no blockchain technology lover not financial adviser and so I should not be held any responsible for any losses. But you should take a chance of risk to get huge profit. Cryptocurrencies are most volatile asset so they are giving you a chance to make you rich and also poor. Use that opportunity by properly doing some research and before long jump contact your financial advisor.

DISCLAIMER: Invest Responsibly. Invest only what you can afford to lose. Cryptocurrency is an unregulated market in India,so invest at your own risk.I am not responsible for any losses that may arise due to price collapse,government decisions and any other factor.

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