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I Work In Finance, And I Will Never Invest In Crypto - YouTube
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as a woman working in the finance
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industry it likely comes as no surprise
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that i sought to educate myself about
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cryptocurrency before it could be
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mansplained to me in an industry with
[12]
such few women it's not uncommon for me
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to feel as if i don't know enough not
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enough about personal finance or my 401k
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not enough about investing in etfs and
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definitely not enough about
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cryptocurrency after three years working
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in the traditional finance field however
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i finally feel comfortable with minor
[26]
risk-taking ventures in the stock market
[28]
and even real estate but cryptocurrency
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is just not an investment i feel
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comfortable with not in the least why
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well it boils down to riskiness on
[36]
average women are a lot more risk averse
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than men when it comes to investing
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while that statistic seems negative the
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reality is that in the long run over
[43]
time women's investments often fare
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better than those of their male
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counterparts the only difference is that
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women earn less due to the gender pay
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gap and therefore often invest less
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stats say up to 40 percent less than men
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those 10 extra earnings make a huge
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difference and i've sought to correct
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for this in my own finance journey that
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being said while i am comfortable
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picking a few stocks here and there or
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investing in mutual funds and etfs
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cryptocurrency is just not an investment
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i can justify for one with the sheer
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number of cryptocurrency coins out there
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in the world the chances of investing in
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a cheap coin with an obscure name that
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might blow up in a few years it's slim
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while in theory i could just put five
[75]
dollars away into said random coin in
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the hopes that i would profit off a
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cryptocurrency boom in the future after
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all five dollars isn't a lot i'd rather
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put that money towards a diversified
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investment portfolio that is set to grow
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over time one of the biggest draws to
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investing in crypto is striking gold by
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investing in a currency that is
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relatively unknown say litecoin or
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dogecoin only to have it erupt in
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popularity due to a tweet or piece of
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news making you a millionaire overnight
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well given that investing in these coins
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is high risk especially as they may only
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maybe grow in the future a more reliable
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cryptocurrency investment would be in a
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currency that is guaranteed to maintain
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value in the future cryptocurrencies
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like bitcoin or ether which is used on
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the ethereum platform these two
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cryptocurrencies which are by far the
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most popular well-known are likely to
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have practical real-world uses in the
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future beyond investment vehicles
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bitcoin is already accepted in some
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countries as a form of currency to
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exchange for goods and services that
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being said there are also extremely
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expensive cryptocurrencies to purchase
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and while their values could still rise
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it could just as easily plummet and
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although there are cryptocurrency
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options that have uses beyond mere
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investments they still remain volatile
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currencies with values more difficult to
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predict than even the stock market i
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don't pretend to understand the ways of
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the stock market and likely neither
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should you but dollar cost averaging
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largely neutralizes the erratic effects
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that the news has on the value of a
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stock on a given day moreover another
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advantage of investing in the stock
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market is neutralizing your risk from a
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single stock by investing in a bucket of
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stocks such as through a mutual fund or
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etf with a diversified portfolio even if
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tech stocks take a plunge other stocks
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in your portfolio could balance out a
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market fluctuation plus it's a lot more
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accessible for the everyday investor
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while bitcoin etfs that aim to provide
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people with a less risky cryptocurrency
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investment do exist these are yet to be
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approved by the sec aka they are very
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hard to come by and while cryptocurrency
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charts and market theories do exist the
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truth is that familiarizing yourself
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with the cryptocurrency landscape is a
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lot more obscure than establishing an
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understanding of traditional investing
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given that so many struggle with just
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the latter it doesn't seem wise in my
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opinion to invest in cryptocurrency
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especially when i could put that money
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in a diversified stock portfolio instead
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another aspect of investing in
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cryptocurrencies these days is digital
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art or nfts as someone who isn't an
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investor in physical art i'm not
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interested in digital art or exclusive
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nft clubs although i can understand the
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appeal of gaining access to an exclusive
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club that includes celebrities nfts
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simply aren't accessible to folks
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without a large sum of disposable income
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in contrast traditional investing can be
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far more equitable while access to
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financial information is obscure not all
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that much money is essential to
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purchasing say stocks or etfs with
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cryptocurrency however it depends
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bitcoin ether and nfts that are likely
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to gain in value over time aren't
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affordable and cryptocurrencies that are
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cheap don't have any guarantee to
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actually grow in value unless you have
[230]
insider knowledge that elon musk might
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tweet about it cryptocurrency is more
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akin to gambling than investing in the
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stock market now don't get me wrong
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investing in general is a risk but as
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someone who works in finance and has
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worked hard to acquire financial
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knowledge i feel significantly more
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comfortable investing in the stock
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market or safer financial tools like
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etfs or mutual funds than i do investing
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in cryptocurrency this isn't a
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recommendation after all you could
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strike gold with cryptocurrency and have
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a five dollar investment balloon into
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500 000 in a short period of time which
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is impossible with stock market
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investments this is merely what works
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for me and why after spending a
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significant amount of time attempting to
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understand the cryptocurrency market
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thoroughly i have come to the conclusion
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that its volatility is too much for my
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own personal risk threshold the
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practical uses of cryptocurrency from
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secure charitable donations to sending
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remittances abroad are ways i can
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envision myself using cryptocurrency in
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the future if it truly does gain enough
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popularity to become a popular currency
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choice for now however i am content to
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watch as people's gambles on
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cryptocurrency either makes the
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millionaires or fools
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