Four Scenarios To Expect When Talking Crypto With Your Financially Inclined Family
You've probably heard all the news about crypto. It's a wild, exciting and confusing time to be alive. The market is going up, it's going down, and it's hard to keep track of what's happening.
If your family members have any questions about the crypto craze, here are some things you can tell them:
Cryptocurrency is not a scam or a pyramid scheme — it's a growing industry that offers real opportunities for investors.
Cryptocurrencies are not anonymous — they're pseudonymous, meaning they have an address associated with them that can be used to trace assets back to their source (though not necessarily the person behind them).
You should never invest more than you can afford to lose — no matter how much money you make off your investments, never put more money into cryptocurrency than you can afford to lose! You should always keep some emergency savings in case something goes wrong with your investment and you need to cover expenses or use it for living expenses until the market recovers (or until you get back in when things stabilize). This will help protect against falling into debt due to bad investing decisions