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Glenda Moehlenpah, CPA, CFP®
Financial Bridges
13319 Poway Road, #506
Poway, CA 92064
Phone: 858-486-0100
Email: glenda@financialbridges.com
Website: www.FinancialBridges.com
July/August 2018
Tales from the Crypto(currency)
If you pay even a little attention to the world of investments, you have probably heard about something called bitcoin. This Johnny-come-lately investment is known as a cryptocurrency, or digital currency, of which there are hundreds. But before you consider investing, learn a little bit about them.
Caution Ahead
Cryptocurrencies are generally virtual and decentralized, and aren’t backed by a government or central banking authority. They don’t offer the same protections as bank accounts, which are insured by the Federal Deposit Insurance Corporation, or U.S. government securities backed by the full faith of the United States. Yet, cryptocurrency is offered by scores of companies, whose ability to back these investments is at least questionable.Volatile and Risky
Ultimately, cryptocurrency is extremely risky, as wild swings in price during the past year have shown. Where some ultraaggressive investors may see an opportunity here, the risks of this currency are typically beyond the tolerance of all but the most adventurous investors.CONTACT US
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