Ethereum Founder Warns About Investing in Cryptocurrencies

It's been a rough couple of days for the globe of cryptocurrencies every bit we have seen a huge plunge in their value over last month. Although all the major currencies are recovering slowly, no ane should forget the fact that a couple of days back, almost $100 billion was wiped from the cryptocurrency market place in a single twenty-four hour period. If that'due south not a sign of volatility, I don't know what is.

Despite the high volatile nature of cryptocurrencies, there seem to be a lot of people who are still investing their hard-earned coin, in a bid to get cash in quickly. If you are one of those guys,you might want to pay heed to Vitalik Buterin, who is the founder of Ethereum, the second largest cryptocurrency in the world by value. In a tweet, Buterin warns about the volatile nature of cryptocurrencies,

"Reminder: cryptocurrencies are still a new and hyper-volatile asset grade, and could drop to near-aught at any fourth dimension. Don't put in more money than you can afford to lose. If you're trying to figure out where to shop your life savings, traditional assets are however your safest bet."

Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Don't put in more money than you can afford to lose. If you're trying to figure out where to shop your life savings, traditional assets are however your safest bet.

— vitalik.eth (@VitalikButerin) February 17, 2018

It's good of Buterin to warn people well-nigh the risks of investing in cryptocurrencies as the bespeak might just striking dwelling house when it comes from the founder of the second largest cryptocurrencies in the world.

Correct at present, the cryptocurrency market is highly volatile and we should just invest the money that we can afford to lose. If you are thinking of investing your life savings, delight don't practice so without expert backing. Yes, there is a chance that you will become a millionaire, simply there is as well a chance that yous will go penniless and lose everything.