A study conducted by the Financial Conduct Authority (FCA) of the United Kingdom (UK), found that the surge in interest in the crypto sector was driven by the younger generation, especially women under 40 years old.
The average person is attracted to crypto investing because of the feeling of excitement and excitement, including the idea of investing in the firm in which they invest.
More interestingly, this younger generation sees crypto investing as a conventional competition behind investing which is essentially a guarantee of one’s future.
However, FCA executive director Sheldon Mills expressed concern over young investors being seen as vulnerable to online advertising and high-pressure selling tactics for high-risk purchases which are not suitable for them.
This is not the first time the FCA has warned investors, warning these investments involve the risk of losing large sums of money.
Although retail investors have been seen active in crypto investing since 2017, its growth rate has been on the rise since last year following the COVID-19 outbreak.
As a result, not only the FCA but also the global financial community has also expressed concern over the growing interest in the cryptocurrency sector.
So, which side are you on? Investors who are excited about investing because of risk challenges or investors who are just happy to spend time?
