Do not do this while buying bitcoin!


Dr. Lecturer Bora Erdamar, its member, gave information about cryptocurrencies, especially Bitcoin, which has been popular recently, and warned investors who dream of getting rich in a short time against fraud.

“BITCOIN HAS NO BOSS”

Saying that Bitcoin is the first of crypto currencies, Erdamar said, “It is decentralized, that is, it has no boss. It has been met with great interest by people around the world since it has been constantly gaining value. “It is necessary to know that it is an investment tool. We should underline that a risky investment has not only high return but also high loss potential.”

“DO NOT BLEED ON PEOPLE, DO TRANSACTIONS FROM KNOWN EXCHANGES”

Emphasizing that the risk appetite of those who want to gain profit increased, Erdamar said, “We also see this in institutions. Important investment institutions also include cryptocurrencies in their portfolios. Crypto monetary gain, for both in Turkey and selling reputation in the world (reputation, prestige) seated, are certain crypto-currency exchanges, I propose making process through these exchanges. Never, as a person, do not be fooled by someone saying, “Give me this much money, I will buy this much bitcoin for you, I will pay you back with high profits”. Unfortunately, as the potential is high in the cryptocurrency ecosystem, we see that malicious people abuse public attention for fraud, ”he said.

“RESEARCH WELL, BE CAREFUL”

Stating that eggs should never be placed in a single basket, Erdamar 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 the bank, sell the house and the car, and buy cryptocurrency. This is not good, it may end in frustration. Instead of making big dreams and making big dreams, you should be cautious, research the invested projects, and make investments by understanding how they work.

Dr. Lecturer “As crypto money technology becomes more widespread and projects that will allow the public to invest better in this area, a lot of work is being done and it will settle in a better balance over time. It is very important that the interest is high, as long as it is supported by this information,” said Bora Erdamar.

“THE NUMBER OF CENTRAL BANKS ESTABLISHING CRYPTO CURRENCY UNIT REACHED 80 PERCENT”

Stating that the central banks in the countries are working on crypto money, Erdamar said, “In fact, the number of central banks has reached 80 percent, and this is a serious rate. The cryptocurrency industry has become public, nobody’s monopoly. The most important condition for keeping this promise is to be understood correctly. Only that way is owned by the public ”.

“SOME COUNTRIES HAVE BEEN TAXED”

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 rapid steps in this regard, Erdamar said, “We expect central banks to implement some regulations in the near future. Because taxation was introduced in South Korea, the same in Italy, and in the US, a statement 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 the money is needed to address separately, “the working group was established in Turkey. First of all, the definition of crypto coins needs to be made. The discussions continue on whether it will be considered as a commodity, security or money, or in a completely different category. My opinion is that cryptocurrencies have to be considered separately, since there are many types even within themselves. Crypto coins cannot be put in the same basket and a collective definition can be made. The reduction of the cryptocurrency family to commodities or securities will cause problems. “Understanding the issue correctly, making a different category and progressing such regulations will be the most important step.”

Erdamar, “The central bank announced that the digital money project will be implemented in the second half of 2021. I find it important that we are not far from the subject and that a project is being developed to evaluate the blockchain technology and its potential.”

WHY IS BITCOIN HIGHLIGHTS?

Evaluating the ups and downs in Bitcoin, Erdamar said, “Crypto currencies are far from the equilibrium point at the moment, therefore, when the big investors, which we call whales, make big purchases or sales, the market volume is low (1.7 trillion dollars). sometimes it can cause a lot of profit and sometimes a lot of loss. This is one of the most important reasons for the volatility, ”he said.