Will cryptocurrencies make you rich?

10 tips for investing in cryptocurrencies "; "From records to records, how far can bitcoin go? » "Metronome, a cryptocurrency 2nd generation wants to dethrone the bitcoin" ... The race for the most promising cryptocurrency is launched, and if you're not already on the train, it is probably already too late ..
With the birth of the blockchain, the world of finance seems to be a spectator of a revolution. Exit the petrodollar, gold and other traditional coveted financial assets. With their cryptocurrency, geeks are about to take power, or almost. Between the latest born Metronome, the most famous Bitcoin or his alter ego Ethereum, which of these currencies of the future will succeed to prevail as commonplace?

"In the eyes of the law, cryptocurrencies do not exist"
If bitcoin seems to be out of the game, the experts want to warn "Mr. and Mrs. everyone" about the risks of investing in this currency. "There is a classic phenomenon of speculative bubble. At the start of a bubble, seasoned investors speculate on the new asset. As time goes by, the price increases, until you reach astronomical sums. Therefore, this interests the media, and therefore, the rest of the population. Savvy investors will then start withdrawing, and prices will go down, "says Christopher Dembik, Global Head of Macroeconomic Research for Saxo Bank Group.

Faced with such a surge of the media, the Financial Markets Authority has also radicalized its speech about the risks of investing in these currencies 3.0. "Whether in cryptocurrency, or any other area, you have to be wary. We have conducted studies that show that 90% of individuals who speculate on regulated sites lose their investments. The remaining 10% earn less than the 90% lost. The virtual currencies raise a financial difficulty: a legal vacuum, "says Christèle Fradin, director of communication of the AMF.

In the eyes of French law, bitcoin and its "counterparts" do not exist. For the moment, the Banque de France has never ruled on these cryptocurrencies. Investors do not benefit from "any guarantees associated with IPOs on regulated financial markets", according to the AMF. Yet, the Fintechs did not wait for the birth of a law to seize cryptocurrencies as an alternative to traditional financing methods. "There is a very attractive side to startups in the tech world. "

"Bitcoin will disappear"
On a global scale, these ICOs (Initial Coin Offerings) are experiencing increasing success Since January 2017, 1.5 billion euros have been raised under the ICOs. Investments that, for example, present a "significant" risk of loss of capital according to the AMF. "Due to the decentralized management of the blockchain on which cryptocurrencies are based, there are many dangers. Some ICOs have resulted in fraudulent financial arrangements or scams. Some operations are involved in money laundering or terrorist financing. Promoters of these ICOs may very well not use the funds raised in accordance with what they have announced, "warns the institution.

The odds of building a personal fortune by lurking on one of these virtual currencies are therefore small, contrary to the promises of some speculative trading sites. "Only seasoned investors can hope to get rich. To invest in cryptocurrency, you have to know what it is, and know the risks. It is an extremely volatile financial asset. By the way, I think bitcoin will disappear sooner or later. Other less stigmatized currencies, which we hear less about, may have a future, "says Christopher Dembik.

Until the disappearance of Bitcoin, cryptocurrencies will be more and more accepted by the public, to a centralization that would question the very principle of the blockchain. For the specialist, one thing is certain: "The future of virtual currencies will go through a reintroduction into the legal system, via the state, or a central bank that may even be able to issue cryptocurrencies ...".