The cryptocurrencies are back in fashion with so many celebrity-endorsed blockchain platforms like CoinDCX, Wazirx and CoinSwitch Kuber gaining success.
While these blockchain platforms have made it easier for the first-time crypto trader to invest, online brokerage company Zerodha did the same with the Indian bourses.
The new-age investment platforms intrigued the millenials and Gen Z to invest in stocks and crypto. In fact, the newbies started seeing cryptocurrencies and stocks as a promising way to make a lot of easy money in a short period, unaware of the risks.
The trend also gave rise to a lot of unsolicited advice on social media, sharing investment tips.
On Wednesday, the millennial-focused trading platform, owned by brother-duo Nikhil and Nithin Kamath, took to Twitter to send out an advisory. The Bangalore-based company urged people to not trade or invest based on random stock tips that show on Instagram Reels or YouTube channels.
“Don’t know who needs to hear thi…screw it, everyone needs to hear this. Please don’t,” the post read.
Serial entrepreneur Ankur Warikoo, who founded local e-commerce company Nearbuy in 2010, immediately thanked Zerodha for the caution. “No I mean it – thank you for saying this,” he wrote.
Just to reiterate, these high-risk high-return options may seem attractive, but come at a cost. Invest wisely, live well.