First, just know none of these blogs outlining scams in the crypto industry are actual investing advice. Though there have been plenty of victims, others have certainly had successful cryptocurrency investments and portfolios that were lucrative without any fraud or scams. If you want investment advice, choose a professional you trust who knows the cryptocurrency and non-fungible-token industries.
It’s also worth noting that to some degree people enjoy crypto and NFT merely as a hobby and/or lifestyle product. There is something of a social scene to the space. I think it is worth being cognizant of the line between enjoying the “hobby”, and over-leveraging oneself. There is no harm in the former, but a great deal of potential harm in the latter.
On a personal note, I also just want to lay out that cryptocurrency is not inherently bad, rather, I enjoy the motivations of the ideology and am somewhat optimistic about the future of cryptocurrency. As it stands, and from my perspective as a bankruptcy attorney, I just want consumers to know there are risks, and that some claims by crypto-enthusiasts are not to be trusted. Stay safe out there!
That’s it for our discussion on cryptocurrency and non-fungible-tokens. If you are interested in the history and philosophy of the economy, bankruptcy, and debt, stay tuned for my blog posts. And, if you are thinking about filing, reach out to us at www.lifebacklaw.com.