{"id":62240,"date":"2021-02-05T15:38:47","date_gmt":"2021-02-05T15:38:47","guid":{"rendered":"https:\/\/cardiffjournalism.co.uk\/intercardiff\/?p=62240"},"modified":"2021-12-16T19:26:59","modified_gmt":"2021-12-16T19:26:59","slug":"cryptocurrency-to-buy-or-not-to-buy","status":"publish","type":"post","link":"https:\/\/cardiffjournalism.co.uk\/intercardiff\/business-culture\/cryptocurrency-to-buy-or-not-to-buy","title":{"rendered":"Cryptocurrency: To buy or not to buy?"},"content":{"rendered":"\n

Making sense of the cryptocurrency world \u2013 highs, bank bans and caveats to consider if you plan to invest<\/strong><\/h2>\n\n\n\n

Business Magnate Elon Musk added ‘Bitcoin’ to his Twitter profile<\/a> recently and within minutes 15% growth was seen in its value, going over \u00a325,500!<\/p>\n\n\n\n

Cryptocurrency investors have seen record highs even before this move, but some UK banks have refused to process payments or accept transfers emerging from this digital currency with no physical existence and no government control. <\/p>\n\n\n\n

This has been a cause of worry for those were planning to buy some. However, experts claim there is not much to be worried but provide caveats to buyers. <\/p>\n\n\n\n

A Penarth-based cryptocurrency investor and one of the organizers of the 635-member group Bitcoin Wales (BW) says, \u201cThe banks need Bitcoin more than the Bitcoiners need banks. There will always be another bank willing to accept your custom.\u201d<\/p>\n\n\n\n

He said, \u201cRandom things like this pop-up and then disappear. Essentially, it makes no difference. Fear is most often sown when the price of Bitcoin rises by those with vested interests in ‘trying’ to slow Bitcoin adoption down.\u201d<\/p>\n\n\n\n

A number of Wall Street banks like JP Morgan have predicted growth in popularity of cryptocurrency. In 2019, it came up with its digital coin representing Fiat currency using blockchain technology and launched it in 2020.<\/p>\n\n\n\n

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