Italian financial services regulator, has warned of risks linked to an increasing number of financially illiterate Italians investing in cryptocurrencies.
I actually see a lot of people not just Italians without knowledge in crypto starting to invest on crypto. They mostly think that they can become rich with crypto without knowing the volatility and the risks.
They conducted an interview with crypto investors around 2,700 people interviewed by Consob, and the result is only almost half was able to answer some basic financial questions and that around 40% of these people only took advices from friends, family rather than asking an actual professional advisor or researching about it. I also see these as a reason to the rising number of crypto scams and crypto fail stories.
Reminding everyone to once again DO YOUR OWN RESEARCH FIRST! this is money we are talking about. Only invest money that you can afford to loose.
