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4 easy steps to register for a loan

1
Filling in the registration form
Provide a phone number and fill in personal information. Register and send request for a loan.
2
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3
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4
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with flexible terms at CashBerry
  • Term:
    Term: min 92 days, max 183 days
  • Loan limit:
    Loan limit: 100 000 - 5 000 000 VND
  • Interest rate:
    Interest rate: 10,95 - 14,6 %/per annum
Get loan
  • Term:
    Term: min 92 days, max 183 days
  • Loan limit:
    Loan limit: 100 000 - 5 000 000 VND
  • Interest rate:
    Interest rate: 10,95 - 14,6 %/per annum

In the context of the pandemic, the recession caused people to start pouring capital into virtual currency investments to earn huge profits. But is this a safe move?

After more than 2 years of "struggling" with Covid-19, when most investment channels are showing signs of slowing down, the value of virtual currencies has skyrocketed. Therefore, many people are aiming to invest in virtual money to earn huge profits. But is investing in virtual money really as profitable as you think?

Investment in virtual currency” is the hot search keyword in 2021. The most concerned issues are the level of safety, legality and risks in virtual currency investment. If you are someone who is learning about virtual currency investing , this is the article for you.

What is virtual currency investment ?

Before diving into the concept of investing in virtual money , we should understand what is virtual money. Referring to virtual currency (Virtual Currency), most people often think of Bitcoin. However, if you have ever done online transactions , you will probably know at least one of the following three types of virtual currency:

- Closed virtual currency: The currency used in online games and has no relation to the real economy. Also cannot be exchanged for cash.

- Virtual currency moves one way: The currency is bought with real money and there is no reverse direction. Typically coupons, accumulated points in the card,...

- Decentralized virtual currency: A currency created on a decentralized platform like Bitcoin. In addition, there are still other virtual currencies that are interested and attract investment such as Ethereum, Binance Coin, Tether,... These coins are collectively known as Altcoins.

In a word, virtual currency is a digital currency that has been encrypted for transactions on an online platform. Based on the characteristics of virtual currencies, it can be seen that the most profitable type of investment today is decentralized virtual currency investment .

How much does it cost to invest virtual money?

One of the factors to answer the question " Should I invest in virtual currency ?" is high liquidity, developed based on the level of acceptance and needs of the community or group of users of virtual currency. 

According to the Trader community, virtual currency investment brings high profits because its market has great potential. Especially with Bitcoin, after the period of 2018 - 2019 fell deeply (at times it seemed to freeze), in recent years, its value up to 1 BTC is valued at more than $ 60,000 (up to the time of the recent transaction). Best).

Bitcoin, the most valuable virtual currency on the market today

Bitcoin, the most valuable virtual currency on the market today

Therefore, it is not surprising that the attraction of virtual money is always great with investors. They started pouring more capital into virtual currency transactions to make a profit. But reality proves that investing in virtual money is not a stable and safe channel. Because the price of virtual currencies currently fluctuates according to the trend of the world market. It follows that you can make a profit now and lose it all tomorrow.

To invest in virtual currency to be profitable depends a lot on the skills of each investor. To get rich with coins, you have to work hard to learn about skills, knowledge and understanding in a decentralized platform. Keep a cool head, ready to take all risks to play long distance coin.

Is it legal to invest in virtual currency in Vietnam ?

The distinguishing feature of virtual currency is that it is not controlled and issued by the government. It is created and managed by the developers, as well as used by a group of people in the virtual community. That is why many people worry about whether investing in virtual currencies is legal or not.

Currently, Vietnam has not recognized virtual currency as a currency or a payment method. Foreign laws only recognize forms of payment such as payment orders, checks, collection/payment orders, collection requests, bank cards or other payment methods prescribed by the Central Bank. In addition to these forms, the remaining forms are considered illegal and prohibited.

(Clause 1, Article 1 of Decree 80/2016/ND-CP amending and supplementing Clauses 6 and 7, Article 4 of Decree No. 101/2012/ND-CP dated November 22, 2012 of the Government on non-cash payments face as follows:

6. Non-cash payment means used in payment transactions (hereinafter referred to as payment means), including: checks, payment orders, payment orders, collection orders, collection orders, bank cards and other means of payment according to regulations of the State Bank.

7. Illegal means of payment are means of payment not specified in Clause 6 of this Article.)

Exchange , sale and storage are not prohibited. However, activities related to virtual currency are not recognized by law. Below is the legal status of Bitcoin (BTC) in the countries. If BTC is recognized, of course virtual currency investment is also recognized.

Map of legal distribution of virtual currency in countries today

Map of legal distribution of virtual currency in countries today

Explanation for the colors in the picture:

- Green: Legal.

- Gold: Controversial and limited in use.

- Hong: Not banned directly.

- Red: Completely or partially banned.

Types of virtual currency investments

If you are a beginner, you will not be brave because you do not know whether investing in virtual money is safe . Currently, there are many forms of virtual currency investment. In which, there are three popular virtual currency investment channels: stock investment, small investment in popular types and investment in Bitcoin ETF.

Stock investment

To invest in virtual currency in this form, investors need to spend money to buy shares from businesses involved in this field. In the future, if virtual currency is widely accepted, any shares of companies that buy the above currency will benefit. Even in the worst case scenario, these stocks are worthwhile long-term investments.

Small investments in popular types

Many “new ghosts” are easily tempted and pour a lot of capital into a virtual currency in the hope of getting rich overnight. But the success rate is very low and it is very difficult to make money with this strategy. Therefore, a safer option is to make a small investment in popular varieties.

This form of virtual currency investment is still risky because the investment level is not low and no one is sure of the existence of virtual currencies. However, some cryptocurrencies have better liquidity. For example, Bitcoin is the type that has a long life in the virtual currency market.

Cryptocurrency investment will be safe if you choose the right investment form

Cryptocurrency investment will be safe if you choose the right investment form

Invest in Bitcoin ETFs

New investors often worry when buying Bitcoin directly, this is the ideal form. Through Bitcoin-linked exchange-traded funds (Bitcoin ETFs), you can gain exposure to Bitcoin without buying it directly.

Whatever is proposed is a form of investment virtual money safe , but investors still need to consider. This fund usually does not invest directly in Bitcoin but buys futures contracts. So the performance of an ETF may not coincide with the profitability of Bitcoin. But because Bitcoin performs well over time, these funds should generate attractive returns.

Safe and fast investment loans via CashBerry

CashBerry is a leading financial company in ensuring credibility, safety and security for customers. At CashBerry, you can choose quick investment loans while still being assured of transparency. 

During the loan process, the customer is in complete control because all information about the loan, interest rate and loan term will be transparent on the contract. It only takes you a few minutes to enter information about ID card/CCCD on cashberry.vn or download the CashBerry app on CH Play and you will immediately receive a loan of up to 10,000,000 VND.

These are useful information about investing virtual money intended for beginners. If you are considering because you do not have enough investment capital, you can choose a safe investment loan with low interest at CashBerry. Visit the CashBerry Fanpage - The financial friend of everyone or contact the hotline 1900638385 for the fastest loan support advice!

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