Why are cryptocurrencies not considered safe to invest

Why are cryptocurrencies not considered safe to invest? First of all, let's go over the definition of digital currencies which are also called cryptocurrencies or electronic currencies. It is a representation of a digital property. More precisely, it is a program built in a programming language and using global encryption techniques, which makes the process of penetrating these currencies and manipulating their value something closer to impossible than reality, which is called the Blockchain technology. Cryptocurrencies are decentralized currencies, unlike the traditional currencies that exist on the ground that are controlled by central banks. This makes controlling it a monopoly on the state. Unlike the first, which is controlled by its users, and there is no control over it by governments. And this counts in terms of transparency. But this ambiguity that revolves around its transactions made many countries move towards banning it.

Going towards the isolation of digital currencies globally :

The first country we have on the list of those who have done that ban is India. Citizens were given 6 months to dispose of their possessions. Thus, India becomes the first major economy in the world to move to such a position.

And after India in the ranking of the emerging economy, “Turkey”, the Central Bank imposed a ban on payments made in cryptocurrency. However, this move was not surprising to many people at all, as some restrictions on cryptocurrency exchanges were already tightened during the months before the action was taken. The reason Turkey justified this ban on these currencies is the lack of a central authority for cryptocurrencies. Therefore, the central governor considered this a risk to small and large investors who cannot compensate for any potential losses in those currencies.

   As in the list, there are three Arab countries: Algeria, Egypt and Qatar. In addition to Bolivia, Ecuador, Nepal, South Korea and Nigeria. There is also a lot of pressure on many central banks around the world. In order to ban dealing with these currencies, which deprives them of their official character, so that dealing with them becomes like a crime in many countries of the world. Those countries have resorted to such measures because cryptocurrencies are used to finance terrorism and criminal networks and sell contraband on the dark web. All transactions there are based on Bitcoin.

   We can also take advice from the most successful investor in history, the fifth richest American billionaire, “Warren Buffett,” who said: “If you told me that you would sell me all bitcoins for $25, I would have refused, what would I do with it?” . It is really very volatile it can drop its value in half in one day.

   :) In the end, if you liked the article, dear reader, please and it is not an order to publish our article.