Bitcoin & Cryptocurrencies: Should You Invest? - A Financial Adviser's Perspective

I'm addressing a lava hot topic in this video. Bitcoin and cryptocurrencies are in a lot of news headlines at the moment, and have been for the last 6 months or so, but should you invest in them?

In this educational video I take a look at the risks associated with Bitcoin and other cryptocurrencies, and give you an insight into why financial advisers in the UK are not allowed to advise clients to invest in them.

This is not a video to put you off investing, but it is definitely one I would advise all potential cryptocurrency investors watch before investing so you can go in with your eyes open.

One big risk to also bear in mind is in choosing the wallet provider. You must do this very carefully as many get hacked and investors can find their bitcoins disappear forever. Also, be vigilant and NEVER lose the crypto key to your wallet if you go down that route - this can make administration quite a key thing to also bear in mind.

You should also be mindful of the effect Bitcoin and other cryptocurrencies are having on the planet, and if you are keen to invest in an ethical/sustainable/ESG way, then bear in mind that Bitcoin and other crypto currencies can be rather bad for the environment given the enormous computing power the data mining and blockchain set up takes.

Investment carries risk and capital invested can go down as well as up, you may not get back the full capital invested.

Chapters
00:00 Intro
00:43 Disclaimer
01:13 Value of one Bitcoin
02:14 High Risk!
03:50 Risk 1 - Consumer Protection
04:12 Risk 2 - Volatility
05:10 Risk 3 - Complexity
06:01 Risk 4 - No Liquidity Guarantee
06:53 Risk 5 - Fees & Charges
07:39 Risk 6 - Misleading Marketing
08:42 Risk 7 - Investment Loss
09:52 Risk 8 Lack of Diversification
10:46 Investing £500 of my own money in Bitcoin
11:08 Advice Disclaimer
11:46 Be wary of the comment section
12:03 Outro

#bitcoin #cryptocurrency #cryptocurrencies

Who Am I?
I am a fully qualified Independent Financial Adviser on a mission to make financial advice more accessible to all. Working at Horlock Holdcroft Financial Consultants Ltd, I am qualified to advise in all areas of financial planning including pensions, savings, investments and protection.

My Credentials
Diploma in Regulated Financial Planning
Currently working towards becoming Chartered

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DISCLAIMERS
The content of my videos is for information only and does not in any way constitute advice or a recommendation to act. If you wish to take action based on what you have seen in my videos then please seek independent financial advice first. The aim of these videos is to provide you with factual information only.

Investment carries risk and capital invested can go down as well as up - you may not get back the full capital invested.

Opinions are my own.

Horlock Holdcroft Financial Consultants Ltd is authorised and regulated by the Financial Conduct Authority.