With any virtual asset purchase, stick with investor basics

With any virtual asset purchase, stick with investor basics

Contrary to public perception, investing in virtual assets is not complicated. That said, trading in virtual assets and growing your investment are completely different beasts. Before deep diving into the domain of digital assets, let us get a few other misconceptions out of the way. Besides the financial opportunities they afford, virtual assets are becoming part of mainstream financial transactions for a growing segment of the global population. In the report ‘Demystifying Crypto: Shedding light on the adoption of digital currencies for payments in 2022A’ by Checkout.com, it is mentioned that over half of the UAE population are using digital wallets for the first time and are keen to use virtual assets for payments. In the UAE and Saudi Arabia, 45 per cent of 18 to 35-year-olds say virtual assets should be used for payments, not just for investment purposes. Regarding merchants, 70 per cent believe that the speed with which payments and settlements are facilitated has the potential to revolutionize their business models. The same study revealed that 77 per cent of companies that support payments in virtual assets have seen an increase in cross-border sales. While the reverse may equally be true, it is better to approach investing