Crypto Noob: Hey so I heard about this New Crypto Coin that costs less than a penny and I thought we could buy millions of it!!! That way it would only have to go up to one cent for us to multiply our money like crazy- We're gonna get RICH :)
Crypto Expert: Yeah, that's a Microcap Crypto currency, they are super risky.
Crypto Noob: What�s the risk? It only has to go up by 1 penny!
Crypto Expert: Right� but what if it goes down by 1 penny, you would lose like 90% of your total investment.
And if anything, investing in some of these really high risk new cryptocurrency coins can be even worse than just investing in other financial assets because there�s not a lot of regulations. These are not as �safe� as some of the other bigger cryptocurrencies like Bitcoin and Ethereum.
Crypto Noob: Man, you are right� I�m already down like 50% of my money� I�m going to like this video and follow you from now on.
What do you think?
Let me know in the comments. �
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DISCLAIMERS:
Please always check with a professional before making any decisions with your money. These videos are for educational purposes only and I am not responsible for your actions in any way. No official financial advice is being given. Never listen to anyone online who tells you to not check with a professional! Joe Parys is not providing you with individual investment advice. Joe Parys is not registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. Joe Parys is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.
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