Why you should not invest in cryptocurrency?

 It’s been an exciting time to be in the cryptocurrency game. Bitcoin has been making headlines, with prices skyrocketing past $10,000 recently. But just because there have been some healthy returns doesn’t mean you should rush to invest without understanding what you are getting into.

One of the main problems is that the investing landscape is very complex and seems designed to confuse newcomers and experts alike. Is there any way to separate fact from fiction without getting caught up in a maze of misconceptions and misinformation?

I suggest you read on and check out the following five reasons not to invest in cryptocurrency until after you’ve spent some time learning about it.

As you well know, there are several popular cryptocurrencies that have significant returns on offer. This kind of opportunity is not to be sniffed at; cryptocurrencies have one distinct advantage over other investments: no counterparty risk .

You are probably aware of the fact that investing in a regular stock means you have to trust the financial institution that facilitates your trade, as well as the government of the country in which your counterparty is incorporated. Cryptocurrency trading is different because there is no need to put your trust in anyone but yourself.

You don’t believe me? Read on and find out why you should not invest in cryptocurrency just yet.

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1) The technology behind cryptocurrency is still being tested.

Bitcoin was the first cryptocurrency to hit the scene. It has been around since 2009 – which is ancient history in technology time.

Bitcoin runs on blockchain technology, which is basically a distributed digital ledger that allows everyone to verify transactions without the need for banks or any other intermediaries. Theoretically, it can be used to perform all types of transactions, including transfers of money, sharing of property rights and much more besides.

However, it is too early to tell whether blockchain and cryptocurrency are all they’re cracked up to be, especially after so few years of being in the wild. So far, billions of dollars have been invested in both by venture capitalists and Bitcoin millionaires who believe that the technology is going to be revolutionary.

If you are interested in cryptocurrency, here are 5 reasons why you should not invest in cryptocurrency.

2) The cryptocurrency market is unregulated.

Right now, there is no government body or agency responsible for monitoring or enforcing cryptocurrency laws in the United States. Given that cryptocurrencies are often seen as an investment vehicle for people who want to break the law, this fact is quite alarming.

Most of the popular exchanges and Bitcoin wallets aren’t required to meet any regulatory requirements and there are no consumer protection measures in place should something go wrong.