062: The Pros and Cons of Investing in Cryptocurrency

Cryptocurrency is in the news every day. We hear stories all the time of people making big money with crypto. Billionaires like Elon Musk can affect its value with a single tweet, and potential regulation could change the field very soon. Having said that, the questions that we hear from our clients are still the same. “Should I invest in crypto? And what are the downsides?” Today, we’re answering some of our most common client questions about cryptocurrencies including Bitcoin, Ethereum, and Dogecoin. By the end of this episode, you’ll have a better understanding of what cryptocurrencies are, how they’re taxed, and why there are just as many downsides as there are upsides to these investments. In this podcast interview, you’ll learn: What makes cryptocurrencies so popular. Why regulation and taxation are likely coming to this space soon. The reasons why adding Bitcoin to your 401(k) could be a risky strategy.. The unique uses of different cryptocurrencies. Why crypto is not a good investment for everyone–and why you need to be prepared to lose it all. To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com/62 How Fit Is Your Retirement Plan?  We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com