Why cryptocurrency may not be right for you
1. It’s a highly speculative investment
One of the greatest risks of buying cryptocurrency is that nobody knows what the future holds. Unlike stocks, cryptocurrency doesn’t have a long track record. Bitcoin was launched just over a decade ago, and many other currencies are just a few years old. That’s not much time to determine whether these investments will continue growing over the long term.
Even the experts are divided about its potential. Tesla CEO Elon Musk, for instance, has been a vocal supporter of both Bitcoin and Dogecoin, while Warren Buffett has famously voiced his disdain for cryptocurrency.
There is a chance it could become widely adopted someday, but it could just as easily fail. If you’re a risk-averse investor, those odds aren’t ideal.