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Should I Invest In Bitcoin?

“Should I invest in bitcoins?”

This is probably the most common question people are asking on the internet, these days. A majority of them are young enthusiasts who want to earn quick money. Here, I’d like to give my opinion on bitcoins and other cryptocurrencies. But I’m not an expert, so don’t follow my words blindly.  For more information, you could try and research on it and look up about it from some genuine and trusted sources. My article is just my opinion based on what I read for myself.

What Is Bitcoin?

It’s one among the various cryptocurrencies, and is first of its kind in the market. There are many other kinds of cryptocurrencies as well. This is complex and needs much explanation and I will try to brief it out in a few sentences.

Bitcoin is the first decentralised digital currency, and the transactions take place directly between the users without an intermediary. Bitcoins are derived through mining, in which complex algorithms and mathematical problems. These are solved which give out blockchains, where Bitcoins are created or allotted in a discrete fashion which depend on the number of attempts to solve those problems. These transactions are stored in public ledgers.

Should I Invest?

This is a quite skeptical question to answer, as it varies from person to person because some might expect immediate returns, while others look forward to future results that are long-run returns.

Before you invest here, please do note that the risk factor is high, and prices are highly volatile, which means there might be a rapid rise or fall in the price which is unpredictable and there is no guarantee of your investment.

My sincere advice would be to invest only if you can afford losing the money. Never think of borrowing and investing and assuming that you can return it when the price goes up. This is a very bad idea because the probability of prices going up or down is the same. Also, there is no point in putting all your hard-earned money into it. Instead, plan accordingly, and invest in small amounts as you can buy a hundred-millionith part of a bitcoin too.

How To Invest?

First of all, don’t be greedy when the price goes up. Look into the price chart, watch the pattern of rise and drop, study well and then think of investing. Don’t get excited about investing in it when the price goes up – and in the same way, don’t panic when it drops.

My way of investing is a safe game play, where I invest in very small amounts that are below $20 as I can afford losing it. Start with small amounts that you can afford to lose, and do it at regular intervals if you can. Check the price regularly to try to understand the pattern, even though there isn’t any specific pattern.

Another important factor that you have to keep in your mind is bitcoin or any cryptocurrency is not legal everywhere, and there are countries which have banned its citizens from using the cryptocurrency as well.

Where Should I Buy Bitcoins From?

There are many bitcoin wallets that are available in the market. Look for a wallet that has a good rating and reviews to ensure many people are using it. These wallets are pretty simple to use. Just install their application, submit the required documents which will fill their KYC – and once you have been verified, you can start your transactions

You must note that these are third party apps, and they act as mediators between you and the traders. So keep in mind that there are wallet fees, tax and other hidden charges, which would always keep the price of bitcoin higher in their wallet than the original price of bitcoin in the market.

My personal choice of wallets are Zebpay and Unocoin, which are India-based bitcoin wallets.

My Prediction

These predictions are just wild guesses that I’m making, and I don’t have any source to prove them.

I believe that if these cryptocurrencies are allowed to be a legal tender, then the market will shatter and the initial investors would get benefited a lot because the price would surge up. Moreover, there will be regularities, volatility of prices, and the way trade happens would completely change.

Since bitcoin mining consumes a large amount of electricity to generate bitcoins, there may be a backward step taken in terms of usage, which might lead to a complete shutdown as well.

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An ambassador and trained facilitator under Eco Femme (a social enterprise working towards menstrual health in south India), Sanjina is also an active member of the MHM Collective- India and Menstrual Health Alliance- India. She has conducted Menstrual Health sessions in multiple government schools adopted by Rotary District 3240 as part of their WinS project in rural Bengal. She has also delivered training of trainers on SRHR, gender, sexuality and Menstruation for Tomorrow’s Foundation, Vikramshila Education Resource Society, Nirdhan trust and Micro Finance, Tollygunj Women In Need, Paint It Red in Kolkata.

Now as an MH Fellow with YKA, she’s expanding her impressive scope of work further by launching a campaign to facilitate the process of ensuring better menstrual health and SRH services for women residing in correctional homes in West Bengal. The campaign will entail an independent study to take stalk of the present conditions of MHM in correctional homes across the state and use its findings to build public support and political will to take the necessary action.

Saurabh has been associated with YKA as a user and has consistently been writing on the issue MHM and its intersectionality with other issues in the society. Now as an MHM Fellow with YKA, he’s launched the Right to Period campaign, which aims to ensure proper execution of MHM guidelines in Delhi’s schools.

The long-term aim of the campaign is to develop an open culture where menstruation is not treated as a taboo. The campaign also seeks to hold the schools accountable for their responsibilities as an important component in the implementation of MHM policies by making adequate sanitation infrastructure and knowledge of MHM available in school premises.

Read more about his campaign.

Harshita is a psychologist and works to support people with mental health issues, particularly adolescents who are survivors of violence. Associated with the Azadi Foundation in UP, Harshita became an MHM Fellow with YKA, with the aim of promoting better menstrual health.

Her campaign #MeriMarzi aims to promote menstrual health and wellness, hygiene and facilities for female sex workers in UP. She says, “Knowledge about natural body processes is a very basic human right. And for individuals whose occupation is providing sexual services, it becomes even more important.”

Meri Marzi aims to ensure sensitised, non-discriminatory health workers for the needs of female sex workers in the Suraksha Clinics under the UPSACS (Uttar Pradesh State AIDS Control Society) program by creating more dialogues and garnering public support for the cause of sex workers’ menstrual rights. The campaign will also ensure interventions with sex workers to clear misconceptions around overall hygiene management to ensure that results flow both ways.

Read more about her campaign.

MH Fellow Sabna comes with significant experience working with a range of development issues. A co-founder of Project Sakhi Saheli, which aims to combat period poverty and break menstrual taboos, Sabna has, in the past, worked on the issue of menstruation in urban slums of Delhi with women and adolescent girls. She and her team also released MenstraBook, with menstrastories and organised Menstra Tlk in the Delhi School of Social Work to create more conversations on menstruation.

With YKA MHM Fellow Vineet, Sabna launched Menstratalk, a campaign that aims to put an end to period poverty and smash menstrual taboos in society. As a start, the campaign aims to begin conversations on menstrual health with five hundred adolescents and youth in Delhi through offline platforms, and through this community mobilise support to create Period Friendly Institutions out of educational institutes in the city.

Read more about her campaign. 

A student from Delhi School of Social work, Vineet is a part of Project Sakhi Saheli, an initiative by the students of Delhi school of Social Work to create awareness on Menstrual Health and combat Period Poverty. Along with MHM Action Fellow Sabna, Vineet launched Menstratalk, a campaign that aims to put an end to period poverty and smash menstrual taboos in society.

As a start, the campaign aims to begin conversations on menstrual health with five hundred adolescents and youth in Delhi through offline platforms, and through this community mobilise support to create Period Friendly Institutions out of educational institutes in the city.

Find out more about the campaign here.

A native of Bhagalpur district – Bihar, Shalini Jha believes in equal rights for all genders and wants to work for a gender-equal and just society. In the past she’s had a year-long association as a community leader with Haiyya: Organise for Action’s Health Over Stigma campaign. She’s pursuing a Master’s in Literature with Ambedkar University, Delhi and as an MHM Fellow with YKA, recently launched ‘Project अल्हड़ (Alharh)’.

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A psychologist and co-founder of a mental health NGO called Customize Cognition, Ritika forayed into the space of menstrual health and hygiene, sexual and reproductive healthcare and rights and gender equality as an MHM Fellow with YKA. She says, “The experience of working on MHM/SRHR and gender equality has been an enriching and eye-opening experience. I have learned what’s beneath the surface of the issue, be it awareness, lack of resources or disregard for trans men, who also menstruate.”

The Transmen-ses campaign aims to tackle the issue of silence and disregard for trans men’s menstruation needs, by mobilising gender sensitive health professionals and gender neutral restrooms in Lucknow.

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A Computer Science engineer by education, Nitisha started her career in the corporate sector, before realising she wanted to work in the development and social justice space. Since then, she has worked with Teach For India and Care India and is from the founding batch of Indian School of Development Management (ISDM), a one of its kind organisation creating leaders for the development sector through its experiential learning post graduate program.

As a Youth Ki Awaaz Menstrual Health Fellow, Nitisha has started Let’s Talk Period, a campaign to mobilise young people to switch to sustainable period products. She says, “80 lakh women in Delhi use non-biodegradable sanitary products, generate 3000 tonnes of menstrual waste, that takes 500-800 years to decompose; which in turn contributes to the health issues of all menstruators, increased burden of waste management on the city and harmful living environment for all citizens.

Let’s Talk Period aims to change this by

Find out more about her campaign here.

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A former Assistant Secretary with the Ministry of Women and Child Development in West Bengal for three months, Lakshmi Bhavya has been championing the cause of menstrual hygiene in her district. By associating herself with the Lalana Campaign, a holistic menstrual hygiene awareness campaign which is conducted by the Anahat NGO, Lakshmi has been slowly breaking taboos when it comes to periods and menstrual hygiene.

A Gender Rights Activist working with the tribal and marginalized communities in india, Srilekha is a PhD scholar working on understanding body and sexuality among tribal girls, to fill the gaps in research around indigenous women and their stories. Srilekha has worked extensively at the grassroots level with community based organisations, through several advocacy initiatives around Gender, Mental Health, Menstrual Hygiene and Sexual and Reproductive Health Rights (SRHR) for the indigenous in Jharkhand, over the last 6 years.

Srilekha has also contributed to sustainable livelihood projects and legal aid programs for survivors of sex trafficking. She has been conducting research based programs on maternal health, mental health, gender based violence, sex and sexuality. Her interest lies in conducting workshops for young people on life skills, feminism, gender and sexuality, trauma, resilience and interpersonal relationships.

A Guwahati-based college student pursuing her Masters in Tata Institute of Social Sciences, Bidisha started the #BleedwithDignity campaign on the technology platform Change.org, demanding that the Government of Assam install
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Bidisha was selected in Change.org’s flagship program ‘She Creates Change’ having run successful online advocacy
campaigns, which were widely recognised. Through the #BleedwithDignity campaign; she organised and celebrated World Menstrual Hygiene Day, 2019 in Guwahati, Assam by hosting a wall mural by collaborating with local organisations. The initiative was widely covered by national and local media, and the mural was later inaugurated by the event’s chief guest Commissioner of Guwahati Municipal Corporation (GMC) Debeswar Malakar, IAS.

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