On Wednesday over $200 billion was eliminated from the value of the cryptocurrency market. Frank Chaparro, Finance Reporter at Business Insider, joins Your Cheddar to discuss the reason for the recent sell-off, and walks us through some of the pros and cons of investing in the currency. Chaparro says excitement drove the price up to begin with, and now investors are seeing the market sink and are getting out. He says it's important to know that if you invest, you need to be prepared to lose all your value. He adds that if you don't have money to lose, you may not want to take a chance. Plus, Chaparro notes that it's very important for the individual to keep track of their bitcoin. There is no bank that regulates or guarantees you'll get your money should you lose the ID number for your crypto. He also talks about some of the advantages of investing, such as learning a new technology (blockchain) that many experts say will be an important aspect of our lives in the future.

Share:
More In Business
Layoffs are piling up, raising worker anxiety
It's a tough time for the job market. Amid wider economic uncertainty, some analysts have said that businesses are at a “no-hire, no fire” standstill. At the same time, some sizeable layoffs have continued to pile up — raising worker anxieties across sectors. Some companies have pointed to rising operational costs due to U.S.'s new tariffs, while others have redirected money to artificial intelligence investments. Workers in the public sector have also been hit hard. Federal jobs were cut by the thousands earlier this year. And many workers are now going without pay as the U.S. government shutdown has now dragged on for more than a month.
Load More