Crypto update: Bitcoin and Dogecoin value set to soar in coming years – act now

“The answer depends on a number of important factors: age, general risk tolerance, immediate financial and liquidity needs, volatility of a specific asset.

“The real question is – do you want your investment to be able to ‘move the needle’ if it goes well and would you be crushed if it doesn’t?”

In a bid to warn young investors of the potential risks, the Financial Conduct Authority (FCA) has launched its InvestSmart campaign to be more aware of how to avoid being scammed when investing in high-risk products, such as cryptocurrencies.

Sarah Pritchard, executive director of markets at the country’s financial regulator, emphasised the importance of educating young people in the world of crypto.

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