If you are the one who follows the news, the chances are that you might have heard of Bitcoins. Today, most of the youngsters are behind cryptocurrencies. They go ahead and buy bitcoins thinking that it is a ‘GET RICH QUICK SCHEME’.
One of the major stress factors affecting our youngsters today is the fear of missing out (FOMO).
Everyone wants to be a Millionaire! And as soon as they find something that looks promising, they let their greed cloud their judgment and jump on the bandwagon. This is exactly what’s happening with the recent bitcoin boom!
Most of the people investing in cryptocurrencies do not understand the technology underlying it, and what causes the surge in prices. The truth is that the current price surge is a result of growing FOMO as more and more people are investing in cryptocurrencies.
The only factor that affects the price of Bitcoin (BTC) and other altcoins like Etherium (ETH), Litecoin (LTC) etc. is 'demand'
– The worst part of this is that people can create artificial demands!
How is this done?
There are many ‘Bitcoin Whales’ (people with huge bitcoin investment) who are capable of manipulating the market and demand by ‘pump and dump’. Since there is no regulatory authority for bitcoins, these ‘Whales’ can control the market and decide when the price goes up or down!
How does this affect small-time investors?
Newbie investors will have a hard time figuring out when to invest and when to withdraw. As soon as there is a drop in the price, there will be panic selling across, and the price will drop drastically. This will cause huge losses for people who have invested huge amount by following the crowd.
Our suggestion: Don’t let FOMO cloud your judgment; instead use your skills to make money!
Switch from Bitcoins to Rummy – at least, you are in control!
If you are worrying that you have missed the bus by not investing in bitcoins a year ago, believe me, you are never late to use your skills with rummy.
While playing rummy, you are in control of your game. As long as you have the skill to overpower your opponents, you can easily make money with your skills.
Benefits of Playing Rummy vs Investing in Bitcoins
Rummy is a game of skill, and it can offer you with the same level of ‘adrenaline rush’ while you invest in Bitcoins, but only without the risk. You are in full control of your game while you play rummy. Below are some benefits of switching to online rummy
instead of trying your luck in bitcoins.
While playing online rummy, you enter a table or a tournament with a pre-defined amount of money, and you use your skill to win the game. If you win, you can get 2X of your money in minutes. While in bitcoins, you need to hold your money for a long time, and there is no guarantee that you will gain get profit on your initial investment.
Skill Vs. Luck
In rummy, you can use your skill to win the games. While investing in bitcoins is based on factors that are out of our control. Bitcoin investment is pure luck, and you could potentially lose all your investment and there is nothing you can do to control your loss.
While trading bitcoins, you need to watch the prices constantly, and you will lose your sleep by analysing the price. However, while playing online rummy, you just need to concentrate while you are playing the game and use your skills to win money.
Bitcoin is highly volatile. Bitcoin took a serious crash recently by 25% in a matter of minutes causing heavy damage to investors. However, if you invest in online rummy, you can be sure of your returns, and you can manage your risk efficiently as you are in control.
So, if you are having a fear of missing out on cryptocurrencies, head straight to Junglee Rummy and start utilising your skills and earn money. Play Responsibly!