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 Investing in Cryptocurrencies Risks and advantages

Cryptocurrencies or cryptocurrencies, is an exciting and attractive market for investors from all over the world, because working in them makes you make a fortune in a very short time, but this business is full of risks and fluctuations.

Experts in the investment said that this business, anyone who turns to and has a love and enthusiasm to make money from investing in cryptocurrencies, should know that there are rules that they must respect, because if he does not respect these rules he will lose money, be shocked and will not achieve these dreams.

For anyone excited to get started with cryptocurrency gone, I will share with you a few simple rules to follow to ensure that your investment is safe, productive and smart, including following some guidelines in order to keep your crypto investments safe and increase your potential profits.

Tip: Learn how to create great investment strategies, how to minimize risk, it’s worth taking crypto courses and you can do that if you have a desire to learn.

The important thing is also the ruling on dealing with digital currencies, is it permissible legally or

What are digital currencies?

We’ll define “digital currency” before we start investing. Digital currency is an amount of money or electronic currency, and this currency you can own in the virtual world and you can buy anything in the Internet. It is not a tangible real currency that can be kept and touched, but this currency is a digital property that is kept as data using high-secure encryption technologies that cannot be penetrated, and these money you can buy from sites that sell digital.

We all know that the digital currency Bitcoin is the most traded currency in the virtual world, which has become called by investors as "digital gold". Of course, the founder of this currency is unknown and uses the pseudonym "Satoshi Nakamoto", we will note that the word shatoshi, which is numbers less than 1 bitcoin, such as "0.0001 Satoshi".

Bitcoin began first as a quantity of money story, which is 21 million units when it was launched, and the amount of 1309 bitcoins was equal to 1 US dollar, and then it became famous and became a large platform and reached a price reached $ 19,700 in 2017, and we do not say that Bitcoin alone was at that time, but it was here "DougCoin", "E

Cryptocurrencies have become very popular among people, both professional and beginners, and have become the focus of attention of investors in many countries, and investing in cryptocurrencies is fast-returned, and at the same time an investment tool with quick losses as well. Therefore, the investor must be very careful while trading them. Among the serious things are that there are websites via the Internet that circumvent and deceive investors in various ways, and indeed there are a very large number of people who have been scammed and their passwords have been lost, and this is also due to YouTubers, which take a few knowledge to explain investment sites and witness falsehood without.

So before you start investing in cryptocurrencies whether Bitcoin or otherwise, and before you buy, sell and trade, you should familiarize yourself with some things first before embarking on this business.

1. . You should know that this currency fluctuates in the same minute, hour, day, week and month. In 2017, for example, the value of Bitcoin was about $3,000, then the value rose to $11,000 and then $ 19,700, in the same year as mentioned earlier, then the value later fell to $7,000, and then rose again. It fluctuates significantly over a short period of time.

2.. These coins are not backed by official government agencies, and the government is not responsible for your loss or fraud.

3.. Some countries punish anyone who works with these cryptocurrencies.

4.. You should know that it is difficult to counterfeit and counterfeit, cryptocurrencies rely on blockchain technology in its work, as this decentralized technology in recording and transferring financial transactions is one of the safest payment and money transfer methods, as the blockchain network cannot be easily penetrated and it is impossible to forge or falsify. Which makes dealing with cryptocurrencies a preferred option for many.

5.. There are Muslim scholars who believe that dealing in Bitcoin is forbidden because it has no guarantee, and this is like gambling, "Cash must include 3 advantages, the first is to be a calendar criterion, the second is to be a repository of wealth and the third is to be based on public acceptance of public acquitation." These three conditions do not exist in cryptocurrencies. God Almighty, above.

6. . You should know that investing in digital currency can make you rich in a very short time, and at the same time it can make you bankrupt in a very short time, they are currencies whose price is linked to the economic and political performance of countries.

How to invest in cryptocurrencies

Bitcoin worked in 2009, and it was the first cryptocurrency, and this currency was only a story of fiction for a large number of people and did not believe that it would be a reason for the wealth of a large number of investors, while the blockchain technology behind Bitcoin was impressing the technological community, but it did not attract public attention as an investment option. But more than a decade later, a lot of cryptocurrencies have entered the crypto market, and Bitcoin has emerged as the most expensive cryptocurrency on this earth.

What you should know is that those who bought cryptocurrencies invested their money in 2017 AD, but now they are making millions of dollars a month, so I will share with you some advice as far as I know and know in this field.

1. Start with a small amount

We all know that the stock market is different from other markets, and in most cases, neither displays nor owns goods and commodities. The goods or commodities in which they are traded are not real assets, but are securities or financial assets, and these commodities are mostly stocks and bonds, and as you know that the stock exchange has rules and skills that you must control in order to choose a particular security with full care at the right time, because in the case of buying or selling, the evidence has not been well studied and did not

This rule applies to investing in cryptocurrencies, because the cryptocurrency market is very volatile, and this only indicates the unexpected rise and fall, so it is wise and precaution to start a small amount for at least 3 to 6 months without any debt, when you discover that things have become clear to you, start investing in stocks because you know when to start, when to stop, when to buy and when to sell.

2.   Select Cryptocurrency

There is no doubt that in 2022 AD there are a large number of cryptocurrencies at different prices, so you have to think carefully and constantly before choosing the right cryptocurrency, check what is going on in the markets, and then choose the 5 best performing cryptocurrencies and follow their growth constantly. There are a very large number of cryptocurrencies, but which are currently relied on more than this amount, which is Bitcoin, because it is the largest cryptocurrency in the world, and it is also the most reliable next to Ethereum.

3.   Choose a suitable platform

The platform is the place where you can buy, sell and hold cryptocurrencies, and you must choose the appropriate platform carefully and carefully, even if it takes me months to reveal the reality of the platforms, it is better for me to put money and be scammed.

As for the mechanism of trading on different platforms, it is as follows:

An investor can buy or sell cryptocurrencies through those platforms.

An investor can transfer their money from paper money to digital.

Ability to convert between different categories and types of cryptocurrencies.

Trading platforms charge specific fees for the different transactions through which they take place.

Each platform sets its own exchange rate.

4. Choose a suitable wallet

The wallet is a must to store cryptocurrencies, but what is a crypto wallet? And why should we create a wallet account for cryptocurrencies?

The wallet is a program that stores the private and public key and adds a link between you and the blockchain where your crypto assets are located, and many people do not differentiate between crypto wallets and a storage place for cryptocurrencies, but technically they only allow you to access your cryptocurrency on the Blockchain using a crypto address called a key. And we all know that without a key, the encryption transaction cannot be completed.

The wallet can be exploited to store, send, receive and transact cryptocurrencies with a large number of companies that accept cryptocurrencies.

Do cryptocurrencies threaten the real economy?

In fact, in 2021, economists and financial analysts warned of the dangers of trading Bitcoin on economic and financial systems, stressing that they are used to finance illegal operations, as may be used by terrorist groups in their activities.

They said that Bitcoin has a fixed money that does not change, which is 21 million units, and one of its most serious and hidden problems is that it continues to escalate day after day, also from its problems and risks, which is that you do not know who you are dealing with, not from the point of the point of view of buyer and seller, and it also finances and covers illegal

There are some Arab experts who believe that this currency is very dangerous to the country's economy, although many countries have allowed its circulation in banks and stock exchanges, especially America, but there are also international companies that advise and motivate customers to buy Bitcoin, but many countries, including the Arab countries and Korea. Beware of trading this cryptocurrency, for its risk to the financial system.

Dangerous, as experts on Bitcoin and others have been said, that it is unstable and has disturbances in the value of its prices, as a result of the unsupervised global speculation carried out on it, which makes this investment in it potential risks and losses in which no one will have mercy on you, because it is a transaction that does not have tangible physical assets, and does

In fact, a large number of countries, as we have become witnessing in 2022, are fighting to deal with this currency and its company, especially in the Arab countries, and even reached a fine and imprisonment, all this for the sake of its security and the safety of its economy.

What is the future of cryptocurrencies?

Many ask about the future of digital currencies, in fact the future of digital currencies is unknown and unknown, but there are big theories and discussions about their future by virtue of most investors are turning towards them.

Many countries are fighting the digital currency and some welcome it in all aspects, but in my personal opinion I believe that this currency in this march will impose itself on the world, because it has already succeeded in dealing with it and containing it, and making it under the eyes of central banks.

The cryptocurrency currently remains very weak because without dollars it is not worth anything, because the dollar is the important workers in its evaluation and trading, which means that it has not yet enjoyed full independence.

Ruling on investing in cryptocurrencies

Ruling on investing in cryptocurrencies, most scholars stated that virtual digital currencies such as Bitcoin may not be traded due to the ignorance of their issuer, and the limited recognition of them, and there are many reasons cited by scientists about not dealing with such cryptocurrencies.

Among us is what scientists have forbidden in the permissibility of dealing with digital currencies, which are as follows:

1.   Her dealings are unknown, and you may deal with alcohol and the moon without your knowledge as you invest your money in it.

2. Second, the state did not officially adopt this currency as a monetary currency, which is expressed by jurists: minting money. It is stated in the royal rulings of Imam Ahmad that he said: (It is not suitable to beat the dirham except in the house of beating, with the permission of the Sultan, because if the people are licensed to be able to ride the bones).

3. Bitcoin has no assets and no real money, no association with official financial institutions, banks and the like, in other words, it is an unknown currency in all sides.

4.   It is not protected by any financial controls or laws, and is not subject to supervisory authority.

5.   Rising highs or sharp lows may rise, exposing them to damage and loss.

6. This digital currency is hurting the economies of countries.

7. The treatment of these digital currencies is like forbidden gambling in God’s law.

8. It may lead to dealing with the loss of the rights of many people, and eating their money falsely.

9.   Criticism must include three advantages, the first is to be a calendar criterion, the second is to be a repository of wealth, and the third is to be based on public acceptance of public acquitation.” These three conditions do not exist in cryptocurrencies. God is higher and I know.

But if countries recognize it in the future and have clear legislation that preserves the rights of its customers and removes their ambiguity and risks surrounding them, then the ruling on dealing with it varies depending on the type of investment whether it is accepted by Sharia or not. I swear, come on.