Authorities remind cryptocurrency investors, “they should be prepared to lose all their money”
Photo: Karolina Grabowska / Pexels
The UK Financial Conduct Authority (FCA) advised that all people who invest in the crypto currencies run the risk of lose all your money , because high investment risks are aggravated by scam activity .
The message was issued having as frame the great volatility in the cryptocurrency market , where bitcoin lost this Monday 11 January more than $ 10, 000 Dollars, after having set a historical record of more than $ 40, 000 dollars per cryptocurrency.
For FCA, investments and loan products related to cryptocurrencies carry “very high risks” , so investors of this type of product “you must be prepared to lose all your money” .
To avoid surprises the authority warned those who like these instruments which is high risk speculative investments and suggested that consumers should make sure understand what are they investing in , the risks associated with the investment and be attentive to any regulatory protection that applies.
From March from 2020 to date the price of bitcoin has grown more than 900% , from $ 3, 900 dollars spent in less than a year breaking the mark of $ 40, 000 Dollars.
Undoubtedly there are people who have become rich but also who has had to absorb the costs
Warren Buffet , the billionaire investor and CEO of Berkshire Hathaway , has said as many times as possible that “cryptocurrencies bá they only have no value “, and that ” you can’t do nothing with them except to sell them to someone else ”.
The expert financial Laith Jalaf , told CNBC that the FCA is concerned that the high risks of the crypto assets are being aggravated by scam activity , than non-regulated companies target consumers with marketing campaigns highlighting the rewards of cryptocurrencies, but do not realize the potential downside and risks of invert go on them .
With information from CNBC and Sputnik
You may also be interested in:
Enjoy of WhatsApp memes and their new information privacy policies
The best places in the world to retire with a monthly budget of $ 2, 500 dollars or less
Biden will ask for immediate forgiveness of $ 10, 000 student debt dollars
We recommend you
