Mentor’s comment-
- https://indianexpress.com/
article/opinion/columns/t-20- investment-cryptocurrencies- bitcoins-7646351/ - https://www.thehindu.com/
opinion/op-ed/controlling-the- crypto-genie/article37778096. ece - In the intro, mention cryptocurrency bill seeking to prohibit cryptocurrencies.
- In the body mention the lack of underlying asset for cryptocurrencies and risks involved in such assets, lack of regulator, decentralized nature etc.
- Conclude by mentioning the need for regulation and avoiding outright prohibition.
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Hello
Introduction can be better..first line is not clear..mention about draft cryptocurrency bill which proposes a ban on private virtual currencies (very much in news) or you can mention about countries like El Salvador which have legalised cryptocurrency. Try to include some fact/data in intro.
First two points are not entirely correct…crypto don’t have intrinsic value like gold and silver..they thrive on speculation and finiteness..investors interest are due to high prices, anonymity, no presence of intermediaries like banks hence transactions are faster, decentralized model etc- mention these points. Points about non-fiat currency, speculative etc are good.
Also mention drawbacks separately(volatility, terror financing etc), then mention status in India and way forward- you have mentioned drawbacks in way forward.
Keep practicing..read some more to build upon the content. 🙂
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Muskan
Nice attempt. Intro is good. You can also mention about the draft crypto bill which is the reason for discussion in current times.
Factors responsible for growing interest is also fine. You can also mention about lack of intermediaries like banks makes even cross-border transactions faster. Also high returns which has caught the interest of investors can be mentioned.
In risks mention about lack of sovereign guarantee, also no intrinsic value..is in a very nascent stage..volatility can lead to a lot of investor money getting wiped out. Other points are good.
Conclusion is fine too.
Keep practicing. 🙂
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