Many people I know formed a bias that cryptocurrencies are inherently risky and you shouldn't invest in them more than you can afford to lose.
I agree with the above statement in a certain extent, but I'd like to ask the community. Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?
So curious to see the response especially today when we live in times of crisis.
Any cryptocurrency is risk. The higher the value of the cryptocurrency, the higher the risk.
Well I would say that crypto currency is not risky the risk will be in entering this industry specially the risk will be higher if someone that has minimal knowledge about crypto currency will start to engage to earn, in short the lower the knowledge and experience the higher risk it is, and remember the value of any cryptocurrency can change from time to time that's why it is more risky for the user if he/she don't know how to deal with the situation.
We cannot escape the risk, like the market of the cryptocurrency is volatile and it's quite hard to become safe with this market, if you think you can't handle having this I think this is not the right choice to go into cryptocurrency all of the risks are there instead you can reduce the risk it's not quite a bad right?
So how you will reduce the risk?
Educate your self
This is the main factors should do to make more awareness about the things happen to your investment and all of the things related to the market.