Is it worth buying cryptocurrency? Councils of the NBU (video)

Is it worth buying cryptocurrency?  Councils of the NBU (video)

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Cryptocurrency is a risky instrument for investing money, Ukrainians are advised to focus on other instruments for investing their savings: from deposits to government bonds. Ekaterina Rozhkova, the first deputy head of the National Bank, stated this on the air of the My Ukraine channel, writes ZN.

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What they say in the NBU

Rozhkova reminded of the official position of the NBU, which does not consider cryptocurrency a means of payment, “and this is what citizens should remember.”

“By the way, the world’s attitude towards cryptocurrency is not clear-cut. And we have already witnessed serious shocks in these markets in the USA, when it turned out that cryptocurrencies, which were supposed to be backed by physical dollars, turned out to be unbacked by anything, and these are very big risks,” she said.

“It’s not a means of payment, it’s not money, it’s another asset, so if people want to use it, let them take into account the risks that are present there,” emphasized the first deputy head of the NBU.

According to her, the universal recipe is to diversify your savings.

“It works absolutely at all times, and now it also works, since the economy is slowly recovering, people are also re-adjusting and want to make decisions already based on some economic calculations,” she said.

She recalled the NBU’s measures to stimulate banks, which allowed to raise interest rates on deposits, and the Ministry of Finance raised interest rates on government bonds.

“That’s why there is already an alternative: you can put money on a deposit, you can – in military bonds or simply in OVHZ. There is an opportunity even for those who want to buy currency, it is limited to 100 thousand hryvnias per month, and place it on deposit,” said Rozhkova.

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Source: Ministry of Finance

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