Play safe strategies are very important nowNot a single day passes when any Indian is bombarded with mails from various sources, literally seducing the innocent people with fabulous offers of what is now called Bitcoin.
Today, while the Government is about to either ban or totally regulate the use of what is called crypto currency. Today, one is promised great returns, but one does not know whether the dreams will come true at all. No one really knows about this speculative instrument.
It is vital for all middle-class people to play it safe and not be too ambitious at this stage. The best option could be to invest in the growth option in some good mutual fund and sell when the investment grows to some extent, since the gains are exempted from Income Tax up to one lakh rupees in one financial year, at the moment. The investment should be done in trenches of Rs.5000 in various good Mutual fund instruments.
Likewise, investing in local chit funds is equally dangerous. It is always wise to not dabble in the stock market, without knowing the tricks of the trade.