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Cryptocurrency alert to investors: don’t get caught

The digital currency Bitcoin has become popular recently. Saying that those who want to make money in the short term turn to cryptocurrencies, Dr. Bora Erdamar, “The profits increased the appetite for risk of those who want to get. Abusive people are abusing the public interest by fraud. Proceeding through the stock market has created trust in the world and in Turkey. Withdrawing the house loan from the bank is not good and the car selling cryptocurrencies to get money, ending the frustration that can result, “he said.

Director of the BlockhainIST Center of the University of Bahçeşehir (BAU). Lecturer Bora Erdamar, its member, provided information on cryptocurrencies, especially Bitcoin, which has been popular recently, and warned investors who dream of getting rich in no time against fraud.

“BITCOIN HAS NO BOSS”

Saying that Bitcoin is the first of the cryptocurrencies, Erdamar said: “It is decentralized, that is, it has no boss. It has been received with great interest by people from all over the world as it has been constantly gaining value.” Know that it is an investment tool. We must emphasize that a risky investment not only has a high return, but also a high potential for losses. “

“DO NOT BLEEDING PEOPLE, MAKE KNOWN EXCHANGE TRANSACTIONS”

Emphasizing that the appetite for risk of those who want to profit increased, Erdamar said: “We also see this in institutions. Major investment institutions also include cryptocurrencies in their portfolios. Crypto monetary gain, both in Turkey and in the world sales reputation (reputation, prestige) settled, are certain cryptocurrency exchanges, I propose to carry out the process through these exchanges.

Never, as a person, do not be fooled by someone who says: “Give me so much money, I will buy you so much bitcoin, I will give it back to you with big profits. Unfortunately, as the potential is high in the cryptocurrency ecosystem, we see malicious people abusing public attention for fraud, “he said.

FILE: WHAT SHOULD BE CONSIDERED WHEN BUYING CRYPTO MONEY?

“INVESTIGATE WELL, BE CAREFUL”

Erdamar stated that eggs should never be placed in a single basket and said: “It would be healthier to proceed to different products, through different institutions and individuals, rather than relying on a single person or institution. Never, ever, take a loan from a bank, sell your house and car, and buy cryptocurrencies. This is not good, it can end in frustration. Instead of making big dreams and making big dreams, you have to be cautious, research the projects invested and make investments understanding how they work, ”he said.

Dr. Lecturer “As crypto money technology becomes mainstream and projects that will allow the public to better invest in this field, a lot of work is going on and it will be established in a better balance over time. It is very important that the interest is high as long as it is supported by this information, “he said.

“THE NUMBER OF CENTRAL BANKS THAT ESTABLISH A CRYPTO CURRENCY UNIT REACHED 80 PERCENT”

Erdamar said that countries’ central banks are working on crypto money, “In fact, the number of central banks has reached 80 percent, and this is a serious rate. The cryptocurrency industry has gone public, no one monopolizes it. The most important condition for keeping this promise is that it is properly understood. Only then is it the property of the public ”.

“SOME COUNTRIES HAVE PAID TAXES”

Stating that the projects of giant companies such as Facebook, Amazon and Google to print their own currencies during the pandemic period encouraged central banks to take swift action in this regard, Erdamar said: “We expect central banks to implement some regulations. in the near future. . Because taxes were introduced in South Korea, the same in Italy, and in the US, it was asked whether or not to invest in cryptocurrencies in the tax fund last year, “he said.

WORKING GROUP ESTABLISHED IN TURKEY

Crypto Erdamar said that money is needed to deal with separately, “the working group was established in Turkey. First of all, it is necessary to define cryptocurrencies. Discussions continue on whether it will be considered as a commodity, a security or a money, or in a completely different category. My opinion is that cryptocurrencies should be considered separately, as there are many types even within themselves.

Cryptocurrencies cannot be put in the same basket and a collective definition can be made. Reducing the cryptocurrency family to commodities or securities will cause problems. “Understanding the issue correctly, making a different category and moving forward on those regulations will be the most important step.

Erdamar said: “The central bank announced that the digital money project will be implemented in the second half of 2021. It seems to me important that we are not far off the subject and that the project is being developed to evaluate blockchain technology and its potential.” . ”

WHY IS BITCOIN FEATURED?

Evaluating the ups and downs in Bitcoin, Erdamar said: “Cryptocurrencies are far from breakeven right now, therefore when big investors, which we call whales, make big purchases or sales, the market volume is low. ($ 1.7 trillion). Sometimes it can generate a lot of profits and sometimes a lot of losses. This is one of the most important reasons for volatility, ”he said.

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