Mangaluru, Jun 5: It is important to understand the fundamentals surrounding ‘Cryptocurrency’ before investing in it and one should never take advice from a stranger over the internet for investment decisions. Self-research is the best research said the resource person of the webinar Pareen Lathia, AVP- Markeing @ WazireX, the fastest growing Cryptocurrency Exchange in India with over 5 million users with a monthly volume of 6.2 billion dollars. He has been a crypto trader, a blockchain enthusiast, an educationist, a ghostwriter of several articles on crypto for several publications and clients, an entrepreneur, a specialist in bitcoin operations who traded a portfolio to 20x, and also an economic advisor for several companies in India and abroad.
Pareen on June 3 addressed more than 600 participants through zoom platform in the webinar organised by the department of Business Administration and Entrepreneurship Development Forum of St Agnes College (Autonomous), here.
Pareen articulated that the concept of Cryptocurrency is not entirely new. It is run on blockchain networks ensuring that all cryptocurrencies issued on the decentralized network are accounted for. He elucidated that crypto is not banned in India. There is prohibition at present and very soon a regulatory bill is going to be passed on the acceptance of cryptocurrency. Of late, there is a lot of positive sentiment all around the country towards crypto and it is not a threat to fiat currency in India. While answering a plethora of queries from the participants he advised that one should invest only that much he/she will not lose sleepover. FOMO (fear of missing out) should not be the reason for investing.
Dr Devi Prabha Alva, associate professor of Commerce and the convenor of the webinar welcomed and introduced the resource person. She pointed out “The college graduates spend almost 16 years of their life gaining skills that will fetch them a rewarding salary but they spend little or no time to understand the techniques of saving, investment and how to grow their income. Ideas are going to become the currency of the new economy. The investors and stakeholders in cryptocurrencies need to exercise due diligence and understand the intricacies of digital currency which is going to be the biggest game-changer of our economy. Many of us are still in the dark and know nothing about digital currency.”
Sabina Dsouza, HOD, BBA and the co-convenor of the webinar proposed the vote of thanks. Participants earned e-certificates by answering an MCQ test conducted online on cryptocurrency.