Kavan Choksi: Is Cryptocurrency Still a Viable Option?

Kavan Choksi: The Value of Cryptocurrency Today

Despite their volatility, cryptocurrencies, or crypto, continue to be popular today, defying what many naysayers believe: that the fintech trend is nothing but that -- a trend.

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According to global finance veteran Kavan Choksi, these digital assets exist online. Crypto combines the new technologies of blockchain, cryptography, and computing networks for tracking ownership and determining value.

Even with all this, some long-time investors mention that there are virtually no solid investment strategies to guide one when purchasing crypto.

Veteran financial analysts also go as far as to say that crypto is an untested commodity. They remain convinced that crypto strategies are rooted in pure speculation. It is even after the currency has been around for over a decade.

Potential investors will understandably invest in crypto the way they invest in any asset out there. They will still base their decision on the hope that the price will go up. They will depend on people paying more for it in the future.

Other buyers, however, are more optimistic.

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Before COVID-19 happened, Kavan Choksi says that crypto was very popular. There was a growing class of advisors, investors, and average Joes who believed so much in digital currency. They believed that it would ultimately transform financial services as we know it.

Of course, that comes with great risk. Crypto is tremendously volatile. It has kept a lot of veterans in the global financial industry cautious.

At present, there has yet to be a consensus on which digital currency will ultimately prevail. If one is keen on investing in cryptocurrency, Kavan Choksi says that it's imperative to do research and to do it diligently.

By studying the history and fluctuation rates closely, potential investors may know more about crypto. They may also set their mind at ease that this is ultimately worth the investment.

However, whether you invest in crypto or not, you have to stay committed. It's just like any investment in this regard, adds Kavan Choksi.

For insights on business, economics, and finance, follow this page of business management consultant Kavan Choksi.