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BEST SELLING PRODUCTS
Ripple’s Chief Technology Officer, David Schwartz, has warned crypto investors about investing in cryptocurrencies, considering the volatility of the crypto market. He advised investors and crypto traders to consider minimizing the number of their crypto holdings to reduce risk. The crypto leader made the warning on Twitter, stating that this just advice and not any kind of prediction:
“This is probably going to be my least popular tweet ever, but: If you have life-changing amounts of cryptocurrency, please take some time to seriously consider selling some to reduce your risk and exposure. This is not any kind of prediction about what the market will do.”
To further support his advice, about $1.39 billion were liquidated in the crypto market arbitrarily, with about 240,759 traders liquidated. And the largest single liquidation order happened on Huobi-XRP valued at $11.69 million.
Despite the recent bearish market, some crypto traders are unshaken, as they believe crypto assets are the best tools for hedging against rising inflation. They also believe that crypto assets offer better returns than many traditional assets and are ready to win more attention from the corporate world.
Besides the advice from David Schwartz, the Financial Conduct Authority, a leading financial regulator in the United Kingdom, also issued a piece of advice — some weeks ago — on the risk associated with trading crypto assets.
The statement highlighted the risks associated with investing in Bitcoin and other crypto assets and warned the public that there were high chances that all their funds could be lost.
“The FCA is aware that some firms are offering investments in crypto assets or lending or investments linked to crypto assets that promise high returns. Investing in crypto assets involves taking very high risks with investors’ money. If consumers invest in these types of products, they should be prepared to lose all their money.”
However, if you want to neglect these warnings, do not invest an amount you cannot afford to lose.