Cryptocurrency has been all the rage in recent years, especially as Americans have tried to find nontraditional paths to financial stability in an increasingly volatile economy. (It’s a little scary out there nowadays!) But is crypto investing really the answer? The Sum takes a closer look and provides some tips.
TO SUM IT UP
Around 31% of people ages 18-29 have invested in, traded or used crypto. But does that mean it’s a good investment?
People have lost hundreds of thousands of dollars during pandemic-era crypto crashes with no way no way to hold exchanges accountable.
By taking time to research cryptocurrencies and exchanges and proceeding cautiously, first-time investors can avoid a lot of issues down the line. Read on for some tips!
THE BACKGROUND
Cryptocurrency is a digital asset that uses blockchain as a secure and decentralized “ledger” to confirm transactions.
Crypto users don’t have to rely on banks or governments to “hold” those transactions, thus giving more autonomy.
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