[LONDON] A new generation of young consumers, often influenced by social networks and using trading apps, are plumping for high-risk investments, Britain's financial markets regulator warned on Tuesday.
The Financial Conduct Authority said bitcoin and other cryptocurrencies were in particular seducing these new consumers who acknowledged enjoying the thrill of investing and not being able to absorb their losses.
Sheldon Mills, who heads up the consumer and competition division at the FCA, said that many of the investment products meet the needs of consumers.
"But we are worried that some investors are being tempted - often through online adverts or high-pressure sales tactics - into buying higher-risk products that are very unlikely to be suitable for them," he said.
CW,
ReplyDeleteWho says old fogeys cannot have as much fun as youths who don't know what cannot be done?
Buy $0.02.
If price goes to $0.04, its a 2 bagger.
No less exciting than Bitcoins ;)
If price "soars" to $0.08, its like buying Bitcoins at $20K and watching it zoom to $60K.
Sama, sama.
LOL!
DeleteMy math bad or what?
I meant if price "soars" to $0.06, its like buying Bitcoins at $20K and watching it zoom to $60K.
Hmm... Like that who needs Bitcoin to show %
DeleteLoL!
[LONDON] A new generation of young consumers, often influenced by social networks and using trading apps, are plumping for high-risk investments, Britain's financial markets regulator warned on Tuesday.
ReplyDeleteThe Financial Conduct Authority said bitcoin and other cryptocurrencies were in particular seducing these new consumers who acknowledged enjoying the thrill of investing and not being able to absorb their losses.
Sheldon Mills, who heads up the consumer and competition division at the FCA, said that many of the investment products meet the needs of consumers.
"But we are worried that some investors are being tempted - often through online adverts or high-pressure sales tactics - into buying higher-risk products that are very unlikely to be suitable for them," he said.