The crypto ecosystem has expanded significantly in recent years. Institutions such as the IMF are starting to embrace crypto, though they’re also advising investors to exercise caution.
The crypto ecosystem has expanded significantly in recent years. While institutions such as the International Monetary Fund are starting to embrace cryptocurrencies, they’re also calling for investors to exercise caution.
A June survey of 1,000 adults in the United Kingdom revealed that 45% of respondents aged between 18 and 29 chose cryptocurrencies as their first-ever investment. And a number of those transactions were made using credit cards, student loans or other means of borrowing.
For example, 56% of respondents who invested in either bitcoin or dogecoin funded their investments with debt.
The IMF, in its annual Global Financial Stability Report, said that while more than 16,000 tokens have been listed on various exchanges, only around 9,000 remain today.
As for the other 7,000 or so, some developers have simply walked away. Other tokens just aren’t getting traded. And, the IMF says, some were probably set up purely for speculative purposes or were an outright scam.
Watch the video above to discover why the IMF is so worried about cryptocurrencies and what you should know before getting involved.
