Don’t panic-sell bitcoin in crash: Crypto startups
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While investing or trading in cryptocurrencies is a legal grey area, Indians owned about Rs 10,000 crore worth of such assets as of February.
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(This story originally appeared in on May 21, 2021)Mumbai: Indian crypto entrepreneurs are urging investors not to panic-sell assets like bitcoin and ether after prices crashed over 30% this week. According to cryptocurrency exchanges, investors should decide if they can sustain with locked funds for 3-4 years, and use only risk capital for what would be more of an allocation for long-term appreciation.
These digital exchanges facilitate trading for most of the 1 crore Indian investors in highly volatile cryptocurrency assets. Users of some of these platforms were unable to place their orders due to the high volume of trading on Wednesday. While investing or trading in cryptocurrencies is a legal grey area, Indians owned about Rs 10,000 crore wort
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