Why You Can Lose More Than You Make Through The Bitcoin Faucet

Why You Can Lose More Than You Make Through The Bitcoin Faucet

Currently, in India, there are about 12 million crypto investors. Most of these are below the age of 40 since people above that age wish to invest in safer options like mutual funds, SIPs etc, for their retirement goals and savings. People above the age of 40, also often have the responsibility of a family, kids, etc, whereas the younger population like those in their 20s or early 30s do not have much liability and can even relatively larger amounts because even if they lose it, it won’t push them into great debts and add a fiscal burden. Like any other market, crypto is also extremely risky and any investor or potential investor must be thorough in their research and invest very carefully and cautiously. The trend of investing in crypto is at an all-time high, and it started with the infamous bitcoin faucet around a decade ago. It has become so popular in today’s times that holding a bitcoin is an almost priceless phenomenon.

Why chooses crypto?

Cryptocurrency and especially coins, are extremely lucrative for investors, looking to make easy money in a short span of time. The glorified version of being a crypto investor is that they earn most people’s annual salary, as profits, through a single trade. However, no one wishes to talk about the dark reality. Investors who earn abnormal profits amount to a mere 1 percent of the total investors. The remaining 99 percent often end up losing more money than they invested or can afford to. This happens due to various factors such as volatility of the market, lack of knowledge among investors etc.

 The bitcoin faucet and even crypto as a whole is unchartered territory for even the most professional of investors. This is because it does not operate on facts and figures like the stock market but rather on uncertain and the most random factors. Caution and care is always advised while dealing in crypto.