In the latest budget release for the year 2022, entire India, as a nation was left speechless after our honourable finance minister announced a 30 percent tax on any transaction made, that involved blockchain technology. For those of you who are unaware, blockchain refers to a type of technology that allows people to store digital assets. Holders can possess these assets in the form of either a collection, known as nfts,or particular coins, known as cryptocurrency, which is the full term for crypto. Crypto refers to various digital coins that act as a medium of exchange during transactions. The most popular among these is the bitcoin faucet, which started the hype around cryptocurrency, almost a decade ago. For crypto to act as a medium of exchange both parties need to be willing, since it is not a completely legalized or recognized form of currency, any seller or buyer has the right to refuse payment through crypto. This market, in today’s times, is highly volatile and investors are always on the lookout for the latest news about blockchain
All you need to know about crypto and blockchain
Cryptocurrency is a highly risky market, and yet it’s highly lucrative, due to the abnormal profits that some holders earn. However, we must not forget that the bitcoin faucet and other coins may seem extremely attractive, but every potential investor must not forget the importance of thorough research. The price of bitcoin shoots up really fast causing holders to make profits, however, even the slightest disturbance e or a malicious rumour can cause the price to drop back and hit rock bottom, causing investors to lose money as well. There is no sure-shot way of determining the future of the price of bitcoin.
Bitcoin like every other asset has certain risks attached to it, however since it’s a relatively new technology, which hasn’t been explored much, the risks that accompany bitcoin outnumber the potential benefits, and this is one of the major reasons of concern in investors.