Before you Ditch Fiat for Crypto

In case you are planning to switch from fiat to crypto..

We still live in a world where FIAT money rules.
Even though the monitory system governed and controlled by central banks is broken in more ways than one yet the fact remains it is still the dominant way to transact and hold your money.

The emergence of crypto gives you options

The option is surely to transact in a more transparent fashion and also hold assets which may possibility grow!

The lure of growth is dazzling to say the least.

Fiat money keeps losing value and in contract crypto if done right can help you more prosperous.

What is crypto if done right.

Like all classes crypto as an asset class is growing yet there are sharp corrections which are often in double digits.
This means you can see your gains wiped out in no time.

Also if you move in at the top end of the price you can see your fortunes and investments getting eroded.

Not all crypto is equal

There are thousands of crypto tokens and coins out there and the crypto universe is expanding at a fast pace.
Though this fast pace of growth looks like lots of opportunities however it is important to know that a lot of these project would fail so it is important to do your research before you jump in.

Crypto is not a silver bullet

At the end of the day crypto is an asset class that is loaded with pitfalls and there are projects where teams collect the funds and disappear. These are Rug Pulls thatleave the investors facing a huge loss.

So before you switch...

DYOR or do your own research about a project.