@cmoneyspinner 28 September 2021 more from that month

Millennials are quitting jobs to become crypto day traders. Here's the risk, reward. ~ https://finance.yahoo.com/news/cryptocurrency-fomo-pushes-young-investors-100248559.html Article Highlights: Young investors have COVID-induced FOMO (fear of missing out) Meme mania pushed millennials, Gen Z into the stock and cryptocurrency markets. Robinhood, the online trading platform went public on July 29, 2021. Bitcoin doubled in value during spring, before briefly tumbling. Financial freedom is still a possible reality. Even so … 60% of Americans are still NOT familiar with cryptocurrencies (DEFINITION: “essentially digital coins created and exchanged over a decentralized computer network where transactions are secured and verified through coding”). This lack of financial literacy (i.e. not knowing how to manage one’s personal finances) correlates to lack of income IMPORTANT!!! 2 Key errors made by young investorswhile trading cryptocurrencies. (1) Investing time horizon is too short, i.e. day-trading for the inexperienced can be dangerous (2) Crypto frenzy - Newbie investors scoop too many speculative assets that are risky (Sad story: A kid committed suicide after he thought he had lost a significant amount of money trading options.) This article is part of a series called “Young Investors: Risk and Reward”. #cryptonewbies #CCFCN #Cryptocurrency