In India, the RBI has red-flagged the idea of investment and trading in cryptocurrencies including bitcoins saying each of the individual indulging in shall do their own risk but if still you are moved by the way it has been performing and has reached value of close to Rs. 8 lakhs for a bitcoin, consider these points.
Some of the attributes still are favourable for the digital currency as investment
1. Small fraction of bitcoin can be betted upon: To reap the highs in the cryptocurrency, investors can invest in a small amount such as in some thousands and not necessarily a unit of bitcoin has to be purchased.
2. Only a limited amount of bitcoin can be mined and current market cap also holds good: Bitcoin like other cryptocurrencies can be mined to a limited extent and the high market capitalization compared to some of the world's most expensive stocks supports investment in cryptocurrency.
3. Also block chain technology and algorithm can be a safeguard against any likely risks: In addition these are free from currency fluctuation risk, economic and regulatory woes together with inflation concerns.
So, if you despite the government's warnings want to reap in profits by splurging in this new investment option take small positions and do take note of all the important aspects relating the same.
Know how to make safe investment in bitcoin, here.