Despite the risks, blockchain technology attracts young investors

<p>If you invested Rs 1 lakh in bitcoin a year ago, it would now be worth nearly Rs 1.7 lakh, despite the fact that it has fallen nearly 30% from its all-time high. By contrast, the same sum invested in the sensex would have grown to approximately Rs 1.2 lakh.</p> <p>Despite extreme volatility and a lack of regulation, an increasing number of Indians are investing in cryptocurrencies. However, the trend is not solely motivated by the prospect of high returns. Some turned to cryptocurrency to wager on blockchain technology, while others were drawn to well-designed trading apps. TOI spoke with young cryptocurrency investors to ascertain their objectives, strategies, and concerns as uncertainty continues into 2022.</p> <p>Numerous backers focused on blockchain — a secure, decentralised ledger that enables crypto. "My family encountered several difficulties during the land transfer process. "Blockchain technology may be able to assist in resolving such ledger management issues," stated a Bengaluru-based app developer. The cryptocurrency investors TOI spoke with declined to be identified.</p> <p>According to a law student, cryptocurrency was much more than an investment option for him. "I appreciate its emphasis on decentralisation. Blockchain technology has the potential to solve a plethora of issues related to duplication and transparency."</p> <p>Investors are well aware that cryptocurrency will not be permitted for payment. For them, it's merely a wager on a futuristic technology that governments cannot afford to ignore. They are, however, cautious about their monetary exposure to cryptocurrency in case a ban is announced. Numerous respondents stated that they invest only what they can afford to lose. The Bengaluru-based app developer invested less than Rs 1 lakh, while another investor invested 5% of his portfolio in cryptocurrency.</p> <p>For others, cryptocurrency is difficult to ignore due to its ease of use. "The technology that cryptocurrency exchanges have developed for UI/UX (user interface/user exper