Crypto literacy won’t make you rich, but it can stop you from losing money
It’s one of the oldest pieces of investing advice: Don’t invest in things you don’t understand.
Whether it’s private mortgages, leveraged ETFs, structured notes, or “infinite banking,” this is not a moral judgment. It is tried-and-true risk management – which happens to look a lot like common sense.
Crypto deserves the same treatment.
A paper published recently in The Journal of Consumer Affairs introduces something called the Crypto Literacy Scale in an attempt to measure what people actually know about how crypto works.
Deploying the quiz to more than 500 respondents representative of the general population in the United States yielded an average score of 41 per cent. Shockingly, nearly 15 per cent of people failed to…
