The Pros and Cons of Crypto Currency
What is Cryptocurrency? It is a digital asset that doesn’t need the government or bank to circulate unlike dollars or Euros. Can you guess how many there are? Over 18,000, but some of the most popular are bitcoin, ethereum, litecoin, and cardano
Now, let’s get into the pros and cons:
Pros
- Can be a good way to diversify your portfolio
- Could be a good-long terms investment if demand increases over time
- Has potential to be the world’s first global currency
Cons
- It’s volatile (price bounces up and down)
- Prone to cyberattacks
- Competitions fierce because there are thousands
- It’s decentralized, meaning it’s (mostly not regulated by federal authority)
- In conclusion? Crypto is high risk–you could win big or lose big. If it’s a yes for you, get your seatbelt on, it’s going to be a bumpy ride.
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About the Host
Rianka R. Dorsainvil
Rianka R. Dorsainvil, CFP®️ is the Co-Founder and Co-CEO of 2050 Wealth Partners a virtual, fee-only comprehensive financial planning firm dedicated to serving first-generation wealth-builders, entrepreneurs, and thriving professionals. Rianka also hosts 2050 TrailBlazers, a podcast aimed to address the lack of diversity in the financial planning profession by engaging industry experts and leaders in conversation.
As an award winning successful, millennial Certified Financial Planner professional, Rianka offers a unique perspective not only on the current state of the financial service industry, but on how to stay relevant in an ever-changing world.
Rianka serves as a member of CNBC’s Digital Financial Advisor Council and CFP Board’s Diversity Advisory Group, is a Forbes Personal Finance Contributor, and has been recognized for her accomplishments and leadership within the industry by leading publications and organizations such as Investment News’ inaugural 2017 Women to Watch Rising Star and Wealth Management’s Ten to Watch in 2018. She has been published in PBS NewsHour, Forbes, USA Today, Black Enterprise, CNBC, Women’s Health, and more.