Bitcoin has delivered a spectacular return in recent times. Any investment in bitcoin purely based on returns is not a right investment strategy. The RISK associated with Bitcoin is also equally high.
The first and foremost point is that Bitcoin is not authorized by any Govt agency in India including e-wallet to store the virtual currency like Bitcoin. There is no underlying asset or backing of any asset against a virtual currency. The movement is purely speculative therefore volatility is high. In past, there is a movement of 20% during intra-day in international markets.
Personally, i can compromise on the returns compared to the capital protection. This video on virtual currency highlights the 7 reasons why an investor should not buy bitcoins. This option is suitable only for the people with very high risk appetite.
The exchanges dealing in trading of Bitcoin are not authorized by any statutory or legal body in India. Therefore, a very HIGH RISK is involved.
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