One of the most repetitive questions that pop in every teenager’s mind these days is “How to invest my money?” Is it safe to buy stocks? Can I invest in Gold? What is Cryptocurrency? Well, If such questions irk you, you have won the loop almost. To beat inflation over time and invest your money where it can grow must be the primary concern of a teenager. Idle money is a curse to your financial future.
How to & Where to Invest?
From Gold to Cryptocurrency, You have a wide array of possibilities to let your money grow, Even if it is a minimal amount of Rs.100! First of all, you shouldn’t be saving the money that is left after spending. Every month save a chunk and spent the rest.
“Do not save what is left after spending; instead spend what is left after saving.”Warren Buffett
You can buy stocks/shares of a company through reputed platforms like Zerodha or Upstox where you can also invest in Gold, Mutal Funds, and Initial Public Offerings (IPO). There are many stocks that give you 100% returns over a year like Tanla, Vishnu Pharma, Adani Green, etc. You beat the inflation as well gain a profit as well. Gold is a good commodity to invest in. Appreciation over the years made Gold a trusted investment option.
The jabber about cryptocurrency is around the corner. Coins like Bitcoin, Ethereum, Shiba Inc are some of the good possibilities. Digital currency is the future. You can either be in the gallery and keep whinging about it or be a player according to your risk appetite.
Safety and Frauds – Cryptocurrency
Your investment should be diversified. The money should be put according to your risk appetite. For instance, Government bonds are a safe way to invest money. Cryptocurrency is much more of gambling. All we can do is predict a decentralized financial system in the future. They are a giant risk, but one that is worth taking.
The move from the Government of India by introducing a bill Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, has shaken the ecosystem. China also banned mining and trading cryptocurrency but allows citizens to continue to possess crypto assets they may already have. Even though, the future of cryptocurrency is not that grim as Tech giants like Elon Musk (Tesla), Mark Zuckerburg (Facebook), and Jamie Dimon (JP Morgan) vouch for blockchain tech. The world cannot ignore the revolution as simple as that.
Indian crypto ecosystem is getting better each year as more startups jump on the bandwagon. With more than 1.5 billion dollars worth of cryptocurrency are owned by Indians, the system is already booming. Platforms like WazirX & Coin DCX are Indian startups for Crypto trading. They are already investing in the blockchain market.
At the end of the day, all it matter is whether you are investing or not. Let your money grow instead of being a victim of inflation and financial illiteracy.