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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Ha ha love the glasses