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RE: Why Bitcoin is Perfect for Most First-Time Investors
Thank you for your videos! This makes a lot of sense, I started investing in crypto in Sept and haven't seen this large of correction before. My 16 year old son is wanting to invest, but I'm hesitant to let him before I am more comfortable with it. I told him he needed to learn more about it before investing. But then again, it may be a good lesson for him. If you had teenagers, would you allow them to invest?
Yes I definitely would, isn't your son worth to spend a bit of money so that he can learn with your guidance???
Let him experience it all, the challenge the emotion, the loss, let him use his brain on his own.
Or are you also one of those that think that youngsters shouldn't do anything because they don't know??
Lock them up in a golden cage, and protect the poor loser???
Depends - Does your son save instead? If he doesn't, then yes I'd recommend Bitcoin because it's a great way to trick younger people to save. If he does save, then I'd be more cautious but wouldn't dissuade him. If he wants to try, then it's good for him to learn the risks associated with this stuff. For some people, knowing they have something in the market is more emotionally gratifying even if it goes down than to not have anything at all and miss out. Point being, he might feel pressure to get in later down the road due to FOMO which is far worse.