🕷️ Crawler Inspector

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Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 115 (from laksa166)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa115.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency","crawl_time":1775951090,"first_indexed_time":1617672549,"http_code":200,"src_unparsed":"com,ramseysolutions!www,\/retirement\/investing-in-cryptocurrency s443","src_root_hash":"16517152821695752315","history_drop_reason":null,"meta_title":"Is Crypto a Good Investment? - Ramsey","meta_descriptions":["You’ve probably heard lots about cryptocurrency the last year. But is cryptocurrency a good investment? Well, not really. It’s a pretty big gamble."],"attrs_boilerpipe_text":"Cryptocurrencies are digital assets people use as investments and to buy stuff.\nCrypto isn’t a good investment because of risks like volatility, an unproven rate of return and fraud.\nCrypto has been banned by some countries, and the U.S. is looking for ways to regulate it.\nIs investing in crypto a good idea?\nMarket chaos, inflation, your future—work with a pro to navigate this stuff.\nNope.\nNext question.\nOkay, we can hear the crypto bros from here. Hang around, and we’ll dig into all the reasons why you shouldn’t bet the farm (or your retirement future, for that matter) on crypto.\nYou’ve probably heard stories of people making millions (or losing millions) investing in cryptocurrency. But here’s the million-dollar (or million-bitcoin?) question\n:\nShould\nyou\ninvest in cryptocurrency?\nDespite what every loudmouth on the internet yells at you from their digital soapbox, buying cryptocurrency isn’t a safe bet for your investing future. In fact, more than 80,000 \nBitcoin\n millionaires who were living high on the hog saw their accounts drop several zeros during the\ncrypto crash\nof 2022.\n1\n Easy come, easy go, right?\nBut we’ll get more into that in a minute. Let’s unpack what crypto \nis\n first.\nWhat Kind of Investment Is Cryptocurrency?\nCryptocurrencies are digital assets people use for investing and for buying stuff. You exchange real currency, like dollars, to buy coins or tokens of a certain kind of cryptocurrency.\nYou’ve probably heard of some of the big names in \ncryptocurrency\n: Bitcoin, Dogecoin, Litecoin and Ethereum. But there are actually thousands of types of crypto out there.\nCrypto investors buy crypto and hope it goes up in price so they can sell it for a profit. You know, “buy low, sell high” and all that jazz. Investors might buy and sell Bitcoin or any of the other cryptocurrencies lots of times as the price goes up and down. Or they might stockpile it, planning for the day when it’ll grow into a fortune that will make all their digital dreams come true.\nA few years back, some people were raking in lots of moolah by investing in crypto. But the crypto market was in a bubble, and the thing about bubbles is that they pop. And that’s what happened in 2022 when two cryptocurrencies (Luna and Terra) collapsed. Panic set in and the crypto market lost about $2 trillion in value.\n2\n That’s 2 \ntril\n straight to \nnil\n!\nMake an Investment Plan With a Pro\nSmartVestor shows you up to five investing professionals in your area for free. No commitments, no hidden fees.\nFind Your Pros\nRamsey Solutions is a paid, non-client promoter of participating pros. \nIs Crypto a Safe Investment?\nIf nothing we’ve said earlier has convinced you about investing in crypto, we’ll just flat-out say it: Crypto is not a safe investment. You could lose your shirt (and pants) messing around with crypto. Steer clear, Big Tuna. Head for open waters. Crypto is risky business.\nYes, some people made lots of cash investing in crypto, but it’s all based on speculation—which is just a step above gambling.\nWhat Are the Risks of Investing in Cryptocurrency?\nCrypto is risky for a lot of reasons. But the big reason it’s not a safe investment is because it can have huge swings in price in the blink of an eye. In the investing world, that’s called volatility. And volatility isn’t good for an investment portfolio (or your mental health).\nLet’s take a look at the risks involved with crypto investing.\nCryptocurrency is volatile.\nIt’s true—crypto is about as hot-tempered and unstable as a 3-year-old scream-crying, “I’m not tired!” Crypto’s value swings way up only to come plunging back down, and you never really know what you’re going to get each day. Someone sneezes and the price drops! And unlike stocks that rise and fall based on a company’s performance, crypto goes up and down based purely on speculation.\nInflation, recession fears and more regulation on\ncrypto mining\nhave added to the volatility. You stir all those things together, and you’ve got one really gross pot of chili.\nLet’s be real here: All investing comes with some level of risk. But why jump all the way into the deep end with something this up and down?\nCryptocurrency has an unproven rate of return.\nCryptocurrency is exchanged person-to-person on the web without a middleman (like a bank or government). It’s like the Wild West of the digital world—but there’s no marshal to uphold the law.\nBecause crypto has very few regulations, there’s no pattern to the rise and fall of its value.\nYou can’t figure out the changes or calculate returns like you can with growth stock mutual funds. There just isn’t enough data, or enough credibility, to create a long-term investing plan based on cryptocurrency. Don’t play poker with your financial future here.\nCryptocurrency has lots of unknowns.\nCrypto lives up to its name in that it’s pretty \ncryptic\n. Think about it: Nobody even knows who founded Bitcoin! Only a small percentage of people in the world \nreally \nunderstand the blockchain technology crypto is based on. And ignorance makes you vulnerable. We always tell people that if you can’t explain your investments to a 10-year-old, you have no business investing in them to begin with. You’re setting yourself up for a big mess.\nP.S. Even though it might seem like \neveryone \nand their grandpa is investing in crypto, only a small number of people say they’ve ever actually invested in it (17%). And many have little to no confidence in the reliability or safety of cryptocurrency (63%).\n3\n One study showed that only 8% of Americans feel positively about crypto, which coincidentally is the same percentage of Americans who feel positively about \nThe Bachelor\n franchise.\n4\nCryptocurrency makes theft and fraud easier.\nHackers stole more than $2.47 billion of crypto in the first half of 2025. Yes, $2.47\nbillion\n! And here’s what’s really crazy: That number already surpasses the amount of crypto stolen in all of 2024 combined.\n5\nHackers have routinely pulled off heists on the level of \nThe Italian Job\n—and they didn’t need Marky Mark or a fleet of Mini Coopers to do it. Stealing millions from a traditional bank is almost unthinkable, but it happens all the time in the world of crypto.\nAnd hackers aren’t the only ones stealing crypto. FTX, one of the largest platforms for buying and selling crypto, went belly-up in November 2022 after its founder, Sam Bankman-Fried, was arrested and charged with fraud for stealing money from his customers’ accounts. FTX customers lost billions of dollars.\nCrypto just seems to attract seedy characters. Now look, we’re not saying everyone who uses cryptocurrency is a bad guy who’s dodging the government and making shady deals on the black market. But \nif\n someone wanted to commit a crime and fly under the radar without being tracked, cryptocurrency is going to call their name.\n6\nCryptocurrency Laws\nCrypto laws and regulations vary a lot from country to country. Ten countries, including China, have banned cryptocurrency—and many others have implemented partial bans.\n7\n Two countries (El Salvador and Central African Republic) jumped all in and adopted Bitcoin as legal tender.\n8\nIn the U.S., more and more businesses have started accepting crypto as payment, but it’s not legal tender. Crypto is overseen and regulated by the\n \nFinancial Crimes Enforcement Network, the Securities and Exchange Commission (SEC), the Commodities Futures Trading Commission, and the U.S. Treasury Department.\n9\nUnder its new leadership, the SEC is working to lay out clear, commonsense rules for crypto. In January 2025, the SEC established the Crypto Task Force in an effort to provide clarity so investors aren’t left guessing and innovators aren’t punished for trying to, well, innovate.\n10\nMeanwhile, Congress has been trying to set up a framework to better regulate crypto for years. And while a comprehensive system still doesn’t exist, there are signs of progress being made on that front. Most notably, the Senate recently passed legislation that would set up some new rules for regulating stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar (but final passage is still pending).\n11\nThe U.S. government was also looking into creating a \ncentral bank digital currency\n (CBDC), a government-backed digital currency that’s legal tender. Those efforts appear to be on hold (for now). But if a U.S. CBDC becomes a reality, there’s no telling how it would impact the value of cryptocurrencies.\nTaxes on Cryptocurrency Earnings\nWe left out one other agency that oversees crypto: the IRS. Yes, when you make money buying and selling crypto, the tax man will come calling. Crypto profits are taxed as capital gains just like the proceeds from selling stocks or bonds. \nIf you sell or spend crypto that you owned for one year or less, this is considered short-term \ncapital gains\n, and you’ll pay taxes on your profit at your normal income tax rate. If you make a profit on crypto that you owned for more than a year, that’s long-term capital gains, and the tax rate is usually lower.\nCryptocurrency as a Long-Term Investment\nSome financial institutions offer cryptocurrency \nself-directed IRAs\n, which allow you to invest in crypto for retirement in a tax-advantaged account. Crypto IRAs aren’t super common—and probably for good reason. Crypto isn’t known for being a good long-term investment because of its volatility. You shouldn’t put your nest egg into investments that could be here today and gone tomorrow!\nShould I Invest in Cryptocurrency?\nCrypto investing has left behind a trail of bright young people who are now depressed and broke with no friends.\nFollowing the 2022 crypto crash, a Twitter account called “Coinfessions” sprang up. It’s full of sad stories of broken dreams. If you won’t listen to us about the dangers of crypto, take a look at this Twitter post:\n“My family still thinks I’m rich. I have no friends, no GF, and spend 12-14 hours a day staring at charts. I have $4.9K at the moment. 6 figure student loan debt, $20k+ CC debt. Every day is hell on earth.”\nListen, you can try your hand at cryptocurrency if you want to. If you have some money you’re willing to lose, money that you might’ve thrown away on a roulette wheel in Vegas instead, knock yourself out. We’re not going to be mad at you for that. But we want you guys to \nwin \nwith money and secure your retirement future—and there’s just no evidence that cryptocurrency will do that for you.\nPlain and simple—investing in cryptocurrency is not a good way to build wealth for your future. Now, we’re not saying cryptocurrency is going to go away. And we’re not saying it's horrible. But we \nare\n saying that crypto doesn’t have a proven track record of building wealth.\nIf you really want to invest in something with a solid track record, here’s the better plan: If you’re out of debt, have an emergency fund that’ll cover 3–6 months of expenses, and you’re ready to invest, then focus on \ninvesting 15% of your income\n in growth stock mutual funds. They have a much longer track record of steady growth over the long term than crypto.\nDon’t give in to a craze just because there’s a lot of hype. We’ve talked to people who have taken out a mortgage or cashed out their entire 401(k) early to invest in cryptocurrency—heck no! Don’t put it all on the line and risk your financial future, your retirement dreams and your family’s well-being. If you can’t afford to lose the money, don’t invest it in something as unstable as crypto.\nA Better Way to Invest\nBottom line? The road to building wealth is slow and steady, and there are still\n \nway too many unknowns when it comes to cryptocurrency. Could crypto become a more legit way to invest later on down the road? Maybe. But as things stand today, just say no.\nGet-rich-quick schemes are just that\n—\nschemes.\n \nDon’t risk it and pour all your hopes, dreams and money into them.\nLearn more about\nRamsey Solutions’ investing philosophy\nthat has helped millions of Americans save for retirement and become millionaires over time.\nYou can\ndiversify your portfolio\nby spreading your money between different investments. This can help you lower your investment risk and take advantage of compound growth. \nThe SmartVestor program can connect you with several investment professionals in your area who can help you invest for the future.\nFrequently Asked Questions\nThis article provides general guidelines about investing topics. Your situation may be unique. To discuss a plan for your situation, connect with a SmartVestor\n Pro. Ramsey Solutions is a paid, non-client promoter of participating Pros. \nGet Weekly Insights Delivered Straight to Your Inbox\nDid you find this article helpful? Share it!\nAbout the author\nRamsey Solutions\nRamsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners.\nLearn More.","attrs_markdown":"[Skip to Main Content](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#main)\n\n[![Ramsey Solutions](https:\/\/cdn.ramseysolutions.net\/media\/rscom\/logos\/flat-blue-50-ramsey-logo.svg) ![Ramsey Solutions](https:\/\/cdn.ramseysolutions.net\/media\/rscom\/logos\/flat-blue-50-ramsey-logo.svg)](https:\/\/www.ramseysolutions.com\/)\n\n[Sign In](https:\/\/www.ramseysolutions.com\/sign-in)  [Sign In](https:\/\/www.ramseysolutions.com\/sign-in)\n\n- Money\n  Money\n  \n  - - **Get a Plan for Your Money**\n    - [The 7 Baby Steps](https:\/\/www.ramseysolutions.com\/dave-ramsey-7-baby-steps)\n    - [EveryDollar Budget App](https:\/\/www.ramseysolutions.com\/money\/everydollar)\n    - [Financial Peace University](https:\/\/www.ramseysolutions.com\/money\/financial-peace)\n    - [Talk to a Coach](https:\/\/www.ramseysolutions.com\/money\/everydollar\/features#coaching)\n    - **Getting Started**\n    - [Get Started Assessment](https:\/\/www.ramseysolutions.com\/get-started)\n    - [Get Out of Debt](https:\/\/www.ramseysolutions.com\/debt\/debt-101)\n    \n    - **Articles & Guides**\n    - [Debt Articles](https:\/\/www.ramseysolutions.com\/debt)\n    - [Savings Articles](https:\/\/www.ramseysolutions.com\/saving)\n    - [Budgeting Articles](https:\/\/www.ramseysolutions.com\/budgeting)\n    - [See All Money Resources](https:\/\/www.ramseysolutions.com\/money)\n    - **Tools**\n    - [Debt Snowball Calculator](https:\/\/www.ramseysolutions.com\/debt\/debt-calculator)\n    - [Budget Calculator](https:\/\/www.ramseysolutions.com\/budgeting\/budget-calculator)\n    \n    - **Events**\n    - [The Ramsey Show LIVE](https:\/\/www.ramseysolutions.com\/events\/the-ramsey-show-live)\n    - [Live Like No One Else Cruise](https:\/\/www.ramseysolutions.com\/events\/live-like-no-one-else-cruise)\n    - [Free Live Budgeting Training](https:\/\/www.ramseysolutions.com\/money\/everydollar\/intro-to-everydollar)\n    - [See All Events](https:\/\/www.ramseysolutions.com\/events)\n    - **For Students**\n    - [Ramsey Education Curriculum](https:\/\/www.ramseysolutions.com\/education)\n    - [College Savings Calculator](https:\/\/www.ramseysolutions.com\/saving\/college-savings-calculator)\n    \n    - **Taxes**\n    - [Tax Services](https:\/\/www.ramseysolutions.com\/taxes)\n    - [Tax Guide](https:\/\/www.ramseysolutions.com\/taxes\/tax-guide)\n    - [Tax Pro or Self-File? 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Please try again.\n***\n- [What Kind of Investment Is Cryptocurrency?](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_0)\n- [Is Crypto a Safe Investment?](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_1)\n- [What Are the Risks of Investing in Cryptocurrency?](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_2)\n- [Cryptocurrency Laws](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_3)\n- [Taxes on Cryptocurrency Earnings](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_4)\n- [Cryptocurrency as a Long-Term Investment](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_5)\n- [Should I Invest in Cryptocurrency?](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_6)\n- [A Better Way to Invest](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_7)\n\n[Investing & Retirement](https:\/\/www.ramseysolutions.com\/retirement#feed-content)\n\n[Investing](https:\/\/www.ramseysolutions.com\/retirement?category=investing#feed-content)\n# Is Crypto a Good Investment?\n10 MIN READ \\| FEB 2, 2024\n\n![Ramsey Solutions](https:\/\/cdn2.ramseysolutions.net\/dynamic\/media\/landing-pages\/blog\/author-bio-ramsey-large.jpg\/48w.jpg) By  [Ramsey Solutions](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#authorbio)\n\n![An illustration of a computer with icons of crypotocurrency logos, including Bitcoin, with text that reads Investing in Cryptocurrency](https:\/\/cdn.ramseysolutions.net\/daveramsey.com\/media\/blog\/retirement\/investing\/cryptocurrency.jpg)\n\nSave\n\nShare\n\nLink copied\\!\n\nUnable to copy link. Please try again.\n***\n### In This Article\n- [What Kind of Investment Is Cryptocurrency?](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_0)\n- [Is Crypto a Safe Investment?](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_1)\n- [What Are the Risks of Investing in Cryptocurrency?](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_2)\n- [Cryptocurrency Laws](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_3)\n- [Taxes on Cryptocurrency Earnings](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_4)\n- [Cryptocurrency as a Long-Term Investment](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_5)\n- [Should I Invest in Cryptocurrency?](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_6)\n- [A Better Way to Invest](https:\/\/www.ramseysolutions.com\/retirement\/investing-in-cryptocurrency#heading_7)\n\n### Key Takeaways\n- Cryptocurrencies are digital assets people use as investments and to buy stuff.\n- Crypto isn’t a good investment because of risks like volatility, an unproven rate of return and fraud.\n- Crypto has been banned by some countries, and the U.S. is looking for ways to regulate it.\n\n*Is investing in crypto a good idea?*\n\n[![money bag](https:\/\/cdn.ramseysolutions.net\/media\/landing-pages\/blog\/inline-icons\/money-bag.png) Market chaos, inflation, your future—work with a pro to navigate this stuff.](https:\/\/www.ramseysolutions.com\/retirement\/smartvestor)\n\nNope.\n\nNext question.\n\nOkay, we can hear the crypto bros from here. Hang around, and we’ll dig into all the reasons why you shouldn’t bet the farm (or your retirement future, for that matter) on crypto.\n\nYou’ve probably heard stories of people making millions (or losing millions) investing in cryptocurrency. But here’s the million-dollar (or million-bitcoin?) question*:* Should *you* invest in cryptocurrency?\n\nDespite what every loudmouth on the internet yells at you from their digital soapbox, buying cryptocurrency isn’t a safe bet for your investing future. In fact, more than 80,000 [Bitcoin](https:\/\/www.ramseysolutions.com\/retirement\/what-is-bitcoin) millionaires who were living high on the hog saw their accounts drop several zeros during the [crypto crash](https:\/\/www.ramseysolutions.com\/retirement\/crypto-crash) of 2022.[1](https:\/\/cointelegraph.com\/news\/80-000-bitcoin-millionaires-wiped-out-in-the-great-crypto-crash-of-2022) Easy come, easy go, right?\n\nBut we’ll get more into that in a minute. Let’s unpack what crypto *is* first.\n\n## **What Kind of Investment Is Cryptocurrency?**\n**Cryptocurrencies are digital assets people use for investing and for buying stuff. You exchange real currency, like dollars, to buy coins or tokens of a certain kind of cryptocurrency.**\n\nYou’ve probably heard of some of the big names in [cryptocurrency](https:\/\/www.ramseysolutions.com\/retirement\/what-is-cryptocurrency): Bitcoin, Dogecoin, Litecoin and Ethereum. But there are actually thousands of types of crypto out there.\n\nCrypto investors buy crypto and hope it goes up in price so they can sell it for a profit. You know, “buy low, sell high” and all that jazz. Investors might buy and sell Bitcoin or any of the other cryptocurrencies lots of times as the price goes up and down. Or they might stockpile it, planning for the day when it’ll grow into a fortune that will make all their digital dreams come true.\n\nA few years back, some people were raking in lots of moolah by investing in crypto. But the crypto market was in a bubble, and the thing about bubbles is that they pop. And that’s what happened in 2022 when two cryptocurrencies (Luna and Terra) collapsed. Panic set in and the crypto market lost about \\$2 trillion in value.[2](https:\/\/fortune.com\/2022\/06\/13\/cryptocurrencies-black-monday-5-shocking-facts\/) That’s 2 *tril* straight to *nil*\\!\n\n[![](https:\/\/cdn.ramseysolutions.net\/cms\/sites\/daveramsey-com\/smartvestor\/visual-cta-image.png)](https:\/\/www.ramseysolutions.com\/retirement\/smartvestor)\n\n### Make an Investment Plan With a Pro\nSmartVestor shows you up to five investing professionals in your area for free. No commitments, no hidden fees.\n\n[Find Your Pros](https:\/\/www.ramseysolutions.com\/retirement\/smartvestor)\n\n*Ramsey Solutions is a paid, non-client promoter of participating pros.*\n\n## **Is Crypto a Safe Investment?**\nIf nothing we’ve said earlier has convinced you about investing in crypto, we’ll just flat-out say it: Crypto is not a safe investment. You could lose your shirt (and pants) messing around with crypto. Steer clear, Big Tuna. Head for open waters. Crypto is risky business.\n\nYes, some people made lots of cash investing in crypto, but it’s all based on speculation—which is just a step above gambling.\n\n## **What Are the Risks of Investing in Cryptocurrency?**\nCrypto is risky for a lot of reasons. But the big reason it’s not a safe investment is because it can have huge swings in price in the blink of an eye. In the investing world, that’s called volatility. And volatility isn’t good for an investment portfolio (or your mental health).\n\nLet’s take a look at the risks involved with crypto investing.\n\n### **Cryptocurrency is volatile.**\nIt’s true—crypto is about as hot-tempered and unstable as a 3-year-old scream-crying, “I’m not tired!” Crypto’s value swings way up only to come plunging back down, and you never really know what you’re going to get each day. Someone sneezes and the price drops! And unlike stocks that rise and fall based on a company’s performance, crypto goes up and down based purely on speculation.\n\nInflation, recession fears and more regulation on [crypto mining](https:\/\/www.ramseysolutions.com\/retirement\/bitcoin-mining) have added to the volatility. You stir all those things together, and you’ve got one really gross pot of chili.\n\nLet’s be real here: All investing comes with some level of risk. But why jump all the way into the deep end with something this up and down?\n\n### **Cryptocurrency has an unproven rate of return.**\nCryptocurrency is exchanged person-to-person on the web without a middleman (like a bank or government). It’s like the Wild West of the digital world—but there’s no marshal to uphold the law.\n\nBecause crypto has very few regulations, there’s no pattern to the rise and fall of its value.\n\nYou can’t figure out the changes or calculate returns like you can with growth stock mutual funds. There just isn’t enough data, or enough credibility, to create a long-term investing plan based on cryptocurrency. Don’t play poker with your financial future here.\n\n### **Cryptocurrency has lots of unknowns.**\nCrypto lives up to its name in that it’s pretty *cryptic*. Think about it: Nobody even knows who founded Bitcoin! Only a small percentage of people in the world *really* understand the blockchain technology crypto is based on. And ignorance makes you vulnerable. We always tell people that if you can’t explain your investments to a 10-year-old, you have no business investing in them to begin with. You’re setting yourself up for a big mess.\n\nP.S. Even though it might seem like *everyone* and their grandpa is investing in crypto, only a small number of people say they’ve ever actually invested in it (17%). And many have little to no confidence in the reliability or safety of cryptocurrency (63%).[3](https:\/\/www.pewresearch.org\/short-reads\/2024\/10\/24\/majority-of-americans-arent-confident-in-the-safety-and-reliability-of-cryptocurrency\/) One study showed that only 8% of Americans feel positively about crypto, which coincidentally is the same percentage of Americans who feel positively about *The Bachelor* franchise.[4](https:\/\/www.cnbc.com\/2022\/12\/07\/just-8percent-of-americans-have-a-positive-view-of-cryptocurrencies-now-cnbc-survey-finds.html)\n\n### **Cryptocurrency makes theft and fraud easier.**\nHackers stole more than \\$2.47 billion of crypto in the first half of 2025. Yes, \\$2.47 *billion*! And here’s what’s really crazy: That number already surpasses the amount of crypto stolen in all of 2024 combined.[5](https:\/\/www.coindesk.com\/business\/2025\/07\/01\/crypto-investors-lost-usd2-5b-to-hack-and-scams-in-the-first-half-of-2025)\n\nHackers have routinely pulled off heists on the level of *The Italian Job*—and they didn’t need Marky Mark or a fleet of Mini Coopers to do it. Stealing millions from a traditional bank is almost unthinkable, but it happens all the time in the world of crypto.\n\nAnd hackers aren’t the only ones stealing crypto. FTX, one of the largest platforms for buying and selling crypto, went belly-up in November 2022 after its founder, Sam Bankman-Fried, was arrested and charged with fraud for stealing money from his customers’ accounts. FTX customers lost billions of dollars.\n\nCrypto just seems to attract seedy characters. Now look, we’re not saying everyone who uses cryptocurrency is a bad guy who’s dodging the government and making shady deals on the black market. But *if* someone wanted to commit a crime and fly under the radar without being tracked, cryptocurrency is going to call their name.[6](https:\/\/www.wsj.com\/finance\/currencies\/crypto-industry-robberies-attacks-32c2867a?gaa_at=eafs&gaa_n=ASWzDAiPl37FHwH3ufuivt3QhEn2HGbv4vem_yIBVP2c1smPg2XY7e-ZuU8qw3-Q9k8%3D&gaa_ts=68641266&gaa_sig=OWywh6CYEp3ubryj6uPuyJhzt-96DQxkpjz62BANhQmhLRV8LUfZocPeTZ7GPAtLNVpJyzE4NQMQ53wnxU5SRw%3D%3D)\n\n## **Cryptocurrency Laws**\nCrypto laws and regulations vary a lot from country to country. Ten countries, including China, have banned cryptocurrency—and many others have implemented partial bans.[7](https:\/\/www.atlanticcouncil.org\/programs\/geoeconomics-center\/cryptoregulationtracker\/) Two countries (El Salvador and Central African Republic) jumped all in and adopted Bitcoin as legal tender.[8](https:\/\/www.reuters.com\/world\/africa\/central-african-republic-adopts-bitcoin-an-official-currency-2022-04-27\/)\n\nIn the U.S., more and more businesses have started accepting crypto as payment, but it’s not legal tender. Crypto is overseen and regulated by theFinancial Crimes Enforcement Network, the Securities and Exchange Commission (SEC), the Commodities Futures Trading Commission, and the U.S. Treasury Department.[9](https:\/\/www.dowjones.com\/professional\/risk\/glossary\/cryptocurrency\/us-eu-regulation\/)\n\nUnder its new leadership, the SEC is working to lay out clear, commonsense rules for crypto. In January 2025, the SEC established the Crypto Task Force in an effort to provide clarity so investors aren’t left guessing and innovators aren’t punished for trying to, well, innovate.[10](https:\/\/www.sec.gov\/about\/crypto-task-force)\n\nMeanwhile, Congress has been trying to set up a framework to better regulate crypto for years. And while a comprehensive system still doesn’t exist, there are signs of progress being made on that front. Most notably, the Senate recently passed legislation that would set up some new rules for regulating stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar (but final passage is still pending).[11](https:\/\/www.wsj.com\/finance\/currencies\/senate-passes-stablecoin-bill-in-big-win-for-crypto-industry-44ee8aeb?gaa_at=eafs&gaa_n=ASWzDAjaqfXRGHli2BH3DHZOttH4yRpaT-mq6iuDJeAOg9uS8eET28BAKB3jE29ouTw%3D&gaa_ts=68658843&gaa_sig=WLlhbGLt5Cj9xytiezgbssqJg_Bbu3JEzueWtgsMywki1AiI06OR49EBJ5g3Nk4P7OHJmgmac6a7LkeIj0jJHw%3D%3D)\n\nThe U.S. government was also looking into creating a [central bank digital currency](https:\/\/www.ramseysolutions.com\/budgeting\/cashless-society) (CBDC), a government-backed digital currency that’s legal tender. Those efforts appear to be on hold (for now). But if a U.S. CBDC becomes a reality, there’s no telling how it would impact the value of cryptocurrencies.\n\n## **Taxes on Cryptocurrency Earnings**\nWe left out one other agency that oversees crypto: the IRS. Yes, when you make money buying and selling crypto, the tax man will come calling. Crypto profits are taxed as capital gains just like the proceeds from selling stocks or bonds.\n\nIf you sell or spend crypto that you owned for one year or less, this is considered short-term [capital gains](https:\/\/www.ramseysolutions.com\/taxes\/what-is-capital-gains-tax), and you’ll pay taxes on your profit at your normal income tax rate. If you make a profit on crypto that you owned for more than a year, that’s long-term capital gains, and the tax rate is usually lower.\n\n## **Cryptocurrency as a Long-Term Investment**\nSome financial institutions offer cryptocurrency [self-directed IRAs](https:\/\/www.ramseysolutions.com\/retirement\/self-directed-ira), which allow you to invest in crypto for retirement in a tax-advantaged account. Crypto IRAs aren’t super common—and probably for good reason. Crypto isn’t known for being a good long-term investment because of its volatility. You shouldn’t put your nest egg into investments that could be here today and gone tomorrow\\!\n\n## **Should I Invest in Cryptocurrency?**\nCrypto investing has left behind a trail of bright young people who are now depressed and broke with no friends.\n\nFollowing the 2022 crypto crash, a Twitter account called “Coinfessions” sprang up. It’s full of sad stories of broken dreams. If you won’t listen to us about the dangers of crypto, take a look at this Twitter post:\n\n*“My family still thinks I’m rich. I have no friends, no GF, and spend 12-14 hours a day staring at charts. I have \\$4.9K at the moment. 6 figure student loan debt, \\$20k+ CC debt. Every day is hell on earth.”*\n\nListen, you can try your hand at cryptocurrency if you want to. If you have some money you’re willing to lose, money that you might’ve thrown away on a roulette wheel in Vegas instead, knock yourself out. We’re not going to be mad at you for that. But we want you guys to *win* with money and secure your retirement future—and there’s just no evidence that cryptocurrency will do that for you.\n\nPlain and simple—investing in cryptocurrency is not a good way to build wealth for your future. Now, we’re not saying cryptocurrency is going to go away. And we’re not saying it's horrible. But we *are* saying that crypto doesn’t have a proven track record of building wealth.\n\nIf you really want to invest in something with a solid track record, here’s the better plan: If you’re out of debt, have an emergency fund that’ll cover 3–6 months of expenses, and you’re ready to invest, then focus on [investing 15% of your income](https:\/\/www.ramseysolutions.com\/retirement\/how-to-start-investing) in growth stock mutual funds. They have a much longer track record of steady growth over the long term than crypto.\n\nDon’t give in to a craze just because there’s a lot of hype. We’ve talked to people who have taken out a mortgage or cashed out their entire 401(k) early to invest in cryptocurrency—heck no! Don’t put it all on the line and risk your financial future, your retirement dreams and your family’s well-being. If you can’t afford to lose the money, don’t invest it in something as unstable as crypto.\n\n## **A Better Way to Invest**\nBottom line? The road to building wealth is slow and steady, and there are stillway too many unknowns when it comes to cryptocurrency. Could crypto become a more legit way to invest later on down the road? Maybe. But as things stand today, just say no.\n\nGet-rich-quick schemes are just that*—*schemes.Don’t risk it and pour all your hopes, dreams and money into them.\n\n### Next Steps\n- Learn more about [Ramsey Solutions’ investing philosophy](https:\/\/www.ramseysolutions.com\/retirement\/daves-investing-philosophy) that has helped millions of Americans save for retirement and become millionaires over time.\n- You can [diversify your portfolio](https:\/\/www.ramseysolutions.com\/retirement\/what-is-diversification) by spreading your money between different investments. This can help you lower your investment risk and take advantage of compound growth.\n- The SmartVestor program can connect you with several investment professionals in your area who can help you invest for the future.\n\n[Find an Investment Pro](https:\/\/www.ramseysolutions.com\/retirement\/smartvestor)\n## Frequently Asked Questions\n### Is cryptocurrency a good hedge against inflation?\nCrypto is not a good hedge against inflation because it’s volatile. To protect yourself from inflation, you want to invest in something that has a slow and steady growth rate that outpaces inflation, which is usually 2–3% (except in the last couple of years). Good growth stock mutual funds do this. Historically, the 30-year return of the S\\&P 500 has been roughly 10–12%.[1](http:\/\/pages.stern.nyu.edu\/~adamodar\/New_Home_Page\/datafile\/histretSP.html)\n\n### Is cryptocurrency going to be the new world currency?\nCryptocurrency investing and spending has grown like crazy in the last few years, but it’s still not legal tender in most places. It’s doubtful that a cryptocurrency would become the new world currency because governments like to be in control of monetary policy. It’s much more likely for the U.S. to create a digital dollar that would be similar to a cryptocurrency but not quite the same.\n\n### Where will crypto be in five years?\nTechnology moves at the speed of light, so there’s really no telling where crypto will be in the next five years. Some so-called experts believe Bitcoin, the world’s largest cryptocurrency based on its market value, could soar to \\$1 million in the next five years. Others think it could fall to \\$10,000. Bitcoin is selling for about \\$30,000 right now.\n\n*This article provides general guidelines about investing topics. Your situation may be unique. To discuss a plan for your situation, connect with a SmartVestor* *Pro. Ramsey Solutions is a paid, non-client promoter of participating Pros.*\n### Get Weekly Insights Delivered Straight to Your Inbox\n#### Did you find this article helpful? Share it\\!\n[![Ramsey Solutions](https:\/\/cdn2.ramseysolutions.net\/dynamic\/media\/landing-pages\/blog\/author-bio-ramsey-large.jpg\/120w.jpg)](https:\/\/www.ramseysolutions.com\/about)\n\nAbout the author\n\nRamsey Solutions\n\nRamsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners.  [Learn More.](https:\/\/www.ramseysolutions.com\/about)\n\n[More Articles From Ramsey Solutions](https:\/\/www.ramseysolutions.com\/articles)\n\n![Ask Ramsey](https:\/\/cdn.ramseysolutions.net\/media\/blog\/article-template\/ask-ramsey-header.svg)\n\nGet proven Ramsey answers fast.\n\n**We're sorry but this site doesn't work properly without JavaScript enabled. Please enable it to continue.**\n\nHow do I start investing in safer options?\n\nWhat should I avoid when considering investments?\n\nCan you explain growth stock mutual funds?\n\nBy continuing on our site, you consent to our use of cookies and other tracking technologies as explained in our Privacy Policy, and agree to our Terms of Use. 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All rights reserved.","attrs_readable_markdown":"- Cryptocurrencies are digital assets people use as investments and to buy stuff.\n- Crypto isn’t a good investment because of risks like volatility, an unproven rate of return and fraud.\n- Crypto has been banned by some countries, and the U.S. is looking for ways to regulate it.\n\n*Is investing in crypto a good idea?*\n\n[![money bag](https:\/\/cdn.ramseysolutions.net\/media\/landing-pages\/blog\/inline-icons\/money-bag.png) Market chaos, inflation, your future—work with a pro to navigate this stuff.](https:\/\/www.ramseysolutions.com\/retirement\/smartvestor)\n\nNope.\n\nNext question.\n\nOkay, we can hear the crypto bros from here. Hang around, and we’ll dig into all the reasons why you shouldn’t bet the farm (or your retirement future, for that matter) on crypto.\n\nYou’ve probably heard stories of people making millions (or losing millions) investing in cryptocurrency. But here’s the million-dollar (or million-bitcoin?) question*:* Should *you* invest in cryptocurrency?\n\nDespite what every loudmouth on the internet yells at you from their digital soapbox, buying cryptocurrency isn’t a safe bet for your investing future. In fact, more than 80,000 [Bitcoin](https:\/\/www.ramseysolutions.com\/retirement\/what-is-bitcoin) millionaires who were living high on the hog saw their accounts drop several zeros during the [crypto crash](https:\/\/www.ramseysolutions.com\/retirement\/crypto-crash) of 2022.[1](https:\/\/cointelegraph.com\/news\/80-000-bitcoin-millionaires-wiped-out-in-the-great-crypto-crash-of-2022) Easy come, easy go, right?\n\nBut we’ll get more into that in a minute. Let’s unpack what crypto *is* first.\n\n## **What Kind of Investment Is Cryptocurrency?**\n**Cryptocurrencies are digital assets people use for investing and for buying stuff. You exchange real currency, like dollars, to buy coins or tokens of a certain kind of cryptocurrency.**\n\nYou’ve probably heard of some of the big names in [cryptocurrency](https:\/\/www.ramseysolutions.com\/retirement\/what-is-cryptocurrency): Bitcoin, Dogecoin, Litecoin and Ethereum. But there are actually thousands of types of crypto out there.\n\nCrypto investors buy crypto and hope it goes up in price so they can sell it for a profit. You know, “buy low, sell high” and all that jazz. Investors might buy and sell Bitcoin or any of the other cryptocurrencies lots of times as the price goes up and down. Or they might stockpile it, planning for the day when it’ll grow into a fortune that will make all their digital dreams come true.\n\nA few years back, some people were raking in lots of moolah by investing in crypto. But the crypto market was in a bubble, and the thing about bubbles is that they pop. And that’s what happened in 2022 when two cryptocurrencies (Luna and Terra) collapsed. Panic set in and the crypto market lost about \\$2 trillion in value.[2](https:\/\/fortune.com\/2022\/06\/13\/cryptocurrencies-black-monday-5-shocking-facts\/) That’s 2 *tril* straight to *nil*\\!\n\n[![](https:\/\/cdn.ramseysolutions.net\/cms\/sites\/daveramsey-com\/smartvestor\/visual-cta-image.png)](https:\/\/www.ramseysolutions.com\/retirement\/smartvestor)\n\n### Make an Investment Plan With a Pro\nSmartVestor shows you up to five investing professionals in your area for free. No commitments, no hidden fees.\n\n[Find Your Pros](https:\/\/www.ramseysolutions.com\/retirement\/smartvestor)\n\n*Ramsey Solutions is a paid, non-client promoter of participating pros.*\n\n## **Is Crypto a Safe Investment?**\nIf nothing we’ve said earlier has convinced you about investing in crypto, we’ll just flat-out say it: Crypto is not a safe investment. You could lose your shirt (and pants) messing around with crypto. Steer clear, Big Tuna. Head for open waters. Crypto is risky business.\n\nYes, some people made lots of cash investing in crypto, but it’s all based on speculation—which is just a step above gambling.\n\n## **What Are the Risks of Investing in Cryptocurrency?**\nCrypto is risky for a lot of reasons. But the big reason it’s not a safe investment is because it can have huge swings in price in the blink of an eye. In the investing world, that’s called volatility. And volatility isn’t good for an investment portfolio (or your mental health).\n\nLet’s take a look at the risks involved with crypto investing.\n\n### **Cryptocurrency is volatile.**\nIt’s true—crypto is about as hot-tempered and unstable as a 3-year-old scream-crying, “I’m not tired!” Crypto’s value swings way up only to come plunging back down, and you never really know what you’re going to get each day. Someone sneezes and the price drops! And unlike stocks that rise and fall based on a company’s performance, crypto goes up and down based purely on speculation.\n\nInflation, recession fears and more regulation on [crypto mining](https:\/\/www.ramseysolutions.com\/retirement\/bitcoin-mining) have added to the volatility. You stir all those things together, and you’ve got one really gross pot of chili.\n\nLet’s be real here: All investing comes with some level of risk. But why jump all the way into the deep end with something this up and down?\n\n### **Cryptocurrency has an unproven rate of return.**\nCryptocurrency is exchanged person-to-person on the web without a middleman (like a bank or government). It’s like the Wild West of the digital world—but there’s no marshal to uphold the law.\n\nBecause crypto has very few regulations, there’s no pattern to the rise and fall of its value.\n\nYou can’t figure out the changes or calculate returns like you can with growth stock mutual funds. There just isn’t enough data, or enough credibility, to create a long-term investing plan based on cryptocurrency. Don’t play poker with your financial future here.\n\n### **Cryptocurrency has lots of unknowns.**\nCrypto lives up to its name in that it’s pretty *cryptic*. Think about it: Nobody even knows who founded Bitcoin! Only a small percentage of people in the world *really* understand the blockchain technology crypto is based on. And ignorance makes you vulnerable. We always tell people that if you can’t explain your investments to a 10-year-old, you have no business investing in them to begin with. You’re setting yourself up for a big mess.\n\nP.S. Even though it might seem like *everyone* and their grandpa is investing in crypto, only a small number of people say they’ve ever actually invested in it (17%). And many have little to no confidence in the reliability or safety of cryptocurrency (63%).[3](https:\/\/www.pewresearch.org\/short-reads\/2024\/10\/24\/majority-of-americans-arent-confident-in-the-safety-and-reliability-of-cryptocurrency\/) One study showed that only 8% of Americans feel positively about crypto, which coincidentally is the same percentage of Americans who feel positively about *The Bachelor* franchise.[4](https:\/\/www.cnbc.com\/2022\/12\/07\/just-8percent-of-americans-have-a-positive-view-of-cryptocurrencies-now-cnbc-survey-finds.html)\n\n### **Cryptocurrency makes theft and fraud easier.**\nHackers stole more than \\$2.47 billion of crypto in the first half of 2025. Yes, \\$2.47 *billion*! And here’s what’s really crazy: That number already surpasses the amount of crypto stolen in all of 2024 combined.[5](https:\/\/www.coindesk.com\/business\/2025\/07\/01\/crypto-investors-lost-usd2-5b-to-hack-and-scams-in-the-first-half-of-2025)\n\nHackers have routinely pulled off heists on the level of *The Italian Job*—and they didn’t need Marky Mark or a fleet of Mini Coopers to do it. Stealing millions from a traditional bank is almost unthinkable, but it happens all the time in the world of crypto.\n\nAnd hackers aren’t the only ones stealing crypto. FTX, one of the largest platforms for buying and selling crypto, went belly-up in November 2022 after its founder, Sam Bankman-Fried, was arrested and charged with fraud for stealing money from his customers’ accounts. FTX customers lost billions of dollars.\n\nCrypto just seems to attract seedy characters. Now look, we’re not saying everyone who uses cryptocurrency is a bad guy who’s dodging the government and making shady deals on the black market. But *if* someone wanted to commit a crime and fly under the radar without being tracked, cryptocurrency is going to call their name.[6](https:\/\/www.wsj.com\/finance\/currencies\/crypto-industry-robberies-attacks-32c2867a?gaa_at=eafs&gaa_n=ASWzDAiPl37FHwH3ufuivt3QhEn2HGbv4vem_yIBVP2c1smPg2XY7e-ZuU8qw3-Q9k8%3D&gaa_ts=68641266&gaa_sig=OWywh6CYEp3ubryj6uPuyJhzt-96DQxkpjz62BANhQmhLRV8LUfZocPeTZ7GPAtLNVpJyzE4NQMQ53wnxU5SRw%3D%3D)\n\n## **Cryptocurrency Laws**\nCrypto laws and regulations vary a lot from country to country. Ten countries, including China, have banned cryptocurrency—and many others have implemented partial bans.[7](https:\/\/www.atlanticcouncil.org\/programs\/geoeconomics-center\/cryptoregulationtracker\/) Two countries (El Salvador and Central African Republic) jumped all in and adopted Bitcoin as legal tender.[8](https:\/\/www.reuters.com\/world\/africa\/central-african-republic-adopts-bitcoin-an-official-currency-2022-04-27\/)\n\nIn the U.S., more and more businesses have started accepting crypto as payment, but it’s not legal tender. Crypto is overseen and regulated by theFinancial Crimes Enforcement Network, the Securities and Exchange Commission (SEC), the Commodities Futures Trading Commission, and the U.S. Treasury Department.[9](https:\/\/www.dowjones.com\/professional\/risk\/glossary\/cryptocurrency\/us-eu-regulation\/)\n\nUnder its new leadership, the SEC is working to lay out clear, commonsense rules for crypto. In January 2025, the SEC established the Crypto Task Force in an effort to provide clarity so investors aren’t left guessing and innovators aren’t punished for trying to, well, innovate.[10](https:\/\/www.sec.gov\/about\/crypto-task-force)\n\nMeanwhile, Congress has been trying to set up a framework to better regulate crypto for years. And while a comprehensive system still doesn’t exist, there are signs of progress being made on that front. Most notably, the Senate recently passed legislation that would set up some new rules for regulating stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar (but final passage is still pending).[11](https:\/\/www.wsj.com\/finance\/currencies\/senate-passes-stablecoin-bill-in-big-win-for-crypto-industry-44ee8aeb?gaa_at=eafs&gaa_n=ASWzDAjaqfXRGHli2BH3DHZOttH4yRpaT-mq6iuDJeAOg9uS8eET28BAKB3jE29ouTw%3D&gaa_ts=68658843&gaa_sig=WLlhbGLt5Cj9xytiezgbssqJg_Bbu3JEzueWtgsMywki1AiI06OR49EBJ5g3Nk4P7OHJmgmac6a7LkeIj0jJHw%3D%3D)\n\nThe U.S. government was also looking into creating a [central bank digital currency](https:\/\/www.ramseysolutions.com\/budgeting\/cashless-society) (CBDC), a government-backed digital currency that’s legal tender. Those efforts appear to be on hold (for now). But if a U.S. CBDC becomes a reality, there’s no telling how it would impact the value of cryptocurrencies.\n\n## **Taxes on Cryptocurrency Earnings**\nWe left out one other agency that oversees crypto: the IRS. Yes, when you make money buying and selling crypto, the tax man will come calling. Crypto profits are taxed as capital gains just like the proceeds from selling stocks or bonds.\n\nIf you sell or spend crypto that you owned for one year or less, this is considered short-term [capital gains](https:\/\/www.ramseysolutions.com\/taxes\/what-is-capital-gains-tax), and you’ll pay taxes on your profit at your normal income tax rate. If you make a profit on crypto that you owned for more than a year, that’s long-term capital gains, and the tax rate is usually lower.\n\n## **Cryptocurrency as a Long-Term Investment**\nSome financial institutions offer cryptocurrency [self-directed IRAs](https:\/\/www.ramseysolutions.com\/retirement\/self-directed-ira), which allow you to invest in crypto for retirement in a tax-advantaged account. Crypto IRAs aren’t super common—and probably for good reason. Crypto isn’t known for being a good long-term investment because of its volatility. You shouldn’t put your nest egg into investments that could be here today and gone tomorrow\\!\n\n## **Should I Invest in Cryptocurrency?**\nCrypto investing has left behind a trail of bright young people who are now depressed and broke with no friends.\n\nFollowing the 2022 crypto crash, a Twitter account called “Coinfessions” sprang up. It’s full of sad stories of broken dreams. If you won’t listen to us about the dangers of crypto, take a look at this Twitter post:\n\n*“My family still thinks I’m rich. I have no friends, no GF, and spend 12-14 hours a day staring at charts. I have \\$4.9K at the moment. 6 figure student loan debt, \\$20k+ CC debt. Every day is hell on earth.”*\n\nListen, you can try your hand at cryptocurrency if you want to. If you have some money you’re willing to lose, money that you might’ve thrown away on a roulette wheel in Vegas instead, knock yourself out. We’re not going to be mad at you for that. But we want you guys to *win* with money and secure your retirement future—and there’s just no evidence that cryptocurrency will do that for you.\n\nPlain and simple—investing in cryptocurrency is not a good way to build wealth for your future. Now, we’re not saying cryptocurrency is going to go away. And we’re not saying it's horrible. But we *are* saying that crypto doesn’t have a proven track record of building wealth.\n\nIf you really want to invest in something with a solid track record, here’s the better plan: If you’re out of debt, have an emergency fund that’ll cover 3–6 months of expenses, and you’re ready to invest, then focus on [investing 15% of your income](https:\/\/www.ramseysolutions.com\/retirement\/how-to-start-investing) in growth stock mutual funds. They have a much longer track record of steady growth over the long term than crypto.\n\nDon’t give in to a craze just because there’s a lot of hype. We’ve talked to people who have taken out a mortgage or cashed out their entire 401(k) early to invest in cryptocurrency—heck no! Don’t put it all on the line and risk your financial future, your retirement dreams and your family’s well-being. If you can’t afford to lose the money, don’t invest it in something as unstable as crypto.\n\n## **A Better Way to Invest**\nBottom line? The road to building wealth is slow and steady, and there are stillway too many unknowns when it comes to cryptocurrency. Could crypto become a more legit way to invest later on down the road? Maybe. But as things stand today, just say no.\n\nGet-rich-quick schemes are just that*—*schemes.Don’t risk it and pour all your hopes, dreams and money into them.\n\n- Learn more about [Ramsey Solutions’ investing philosophy](https:\/\/www.ramseysolutions.com\/retirement\/daves-investing-philosophy) that has helped millions of Americans save for retirement and become millionaires over time.\n- You can [diversify your portfolio](https:\/\/www.ramseysolutions.com\/retirement\/what-is-diversification) by spreading your money between different investments. This can help you lower your investment risk and take advantage of compound growth.\n- The SmartVestor program can connect you with several investment professionals in your area who can help you invest for the future.\n## Frequently Asked Questions\n*This article provides general guidelines about investing topics. Your situation may be unique. To discuss a plan for your situation, connect with a SmartVestor* *Pro. Ramsey Solutions is a paid, non-client promoter of participating Pros.*\n### Get Weekly Insights Delivered Straight to Your Inbox\n#### Did you find this article helpful? Share it\\!\n[![Ramsey Solutions](https:\/\/cdn2.ramseysolutions.net\/dynamic\/media\/landing-pages\/blog\/author-bio-ramsey-large.jpg\/120w.jpg)](https:\/\/www.ramseysolutions.com\/about)\n\nAbout the author\n\nRamsey Solutions\n\nRamsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners.  [Learn More.](https:\/\/www.ramseysolutions.com\/about)","meta_canonical":null}

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Boilerpipe Text	Cryptocurrencies are digital assets people use as investments and to buy stuff. Crypto isn’t a good investment because of risks like volatility, an unproven rate of return and fraud. Crypto has been banned by some countries, and the U.S. is looking for ways to regulate it. Is investing in crypto a good idea? Market chaos, inflation, your future—work with a pro to navigate this stuff. Nope. Next question. Okay, we can hear the crypto bros from here. Hang around, and we’ll dig into all the reasons why you shouldn’t bet the farm (or your retirement future, for that matter) on crypto. You’ve probably heard stories of people making millions (or losing millions) investing in cryptocurrency. But here’s the million-dollar (or million-bitcoin?) question : Should you invest in cryptocurrency? Despite what every loudmouth on the internet yells at you from their digital soapbox, buying cryptocurrency isn’t a safe bet for your investing future. In fact, more than 80,000 Bitcoin millionaires who were living high on the hog saw their accounts drop several zeros during the crypto crash of 2022. 1 Easy come, easy go, right? But we’ll get more into that in a minute. Let’s unpack what crypto is first. What Kind of Investment Is Cryptocurrency? Cryptocurrencies are digital assets people use for investing and for buying stuff. You exchange real currency, like dollars, to buy coins or tokens of a certain kind of cryptocurrency. You’ve probably heard of some of the big names in cryptocurrency : Bitcoin, Dogecoin, Litecoin and Ethereum. But there are actually thousands of types of crypto out there. Crypto investors buy crypto and hope it goes up in price so they can sell it for a profit. You know, “buy low, sell high” and all that jazz. Investors might buy and sell Bitcoin or any of the other cryptocurrencies lots of times as the price goes up and down. Or they might stockpile it, planning for the day when it’ll grow into a fortune that will make all their digital dreams come true. A few years back, some people were raking in lots of moolah by investing in crypto. But the crypto market was in a bubble, and the thing about bubbles is that they pop. And that’s what happened in 2022 when two cryptocurrencies (Luna and Terra) collapsed. Panic set in and the crypto market lost about $2 trillion in value. 2 That’s 2 tril straight to nil ! Make an Investment Plan With a Pro SmartVestor shows you up to five investing professionals in your area for free. No commitments, no hidden fees. Find Your Pros Ramsey Solutions is a paid, non-client promoter of participating pros. Is Crypto a Safe Investment? If nothing we’ve said earlier has convinced you about investing in crypto, we’ll just flat-out say it: Crypto is not a safe investment. You could lose your shirt (and pants) messing around with crypto. Steer clear, Big Tuna. Head for open waters. Crypto is risky business. Yes, some people made lots of cash investing in crypto, but it’s all based on speculation—which is just a step above gambling. What Are the Risks of Investing in Cryptocurrency? Crypto is risky for a lot of reasons. But the big reason it’s not a safe investment is because it can have huge swings in price in the blink of an eye. In the investing world, that’s called volatility. And volatility isn’t good for an investment portfolio (or your mental health). Let’s take a look at the risks involved with crypto investing. Cryptocurrency is volatile. It’s true—crypto is about as hot-tempered and unstable as a 3-year-old scream-crying, “I’m not tired!” Crypto’s value swings way up only to come plunging back down, and you never really know what you’re going to get each day. Someone sneezes and the price drops! And unlike stocks that rise and fall based on a company’s performance, crypto goes up and down based purely on speculation. Inflation, recession fears and more regulation on crypto mining have added to the volatility. You stir all those things together, and you’ve got one really gross pot of chili. Let’s be real here: All investing comes with some level of risk. But why jump all the way into the deep end with something this up and down? Cryptocurrency has an unproven rate of return. Cryptocurrency is exchanged person-to-person on the web without a middleman (like a bank or government). It’s like the Wild West of the digital world—but there’s no marshal to uphold the law. Because crypto has very few regulations, there’s no pattern to the rise and fall of its value. You can’t figure out the changes or calculate returns like you can with growth stock mutual funds. There just isn’t enough data, or enough credibility, to create a long-term investing plan based on cryptocurrency. Don’t play poker with your financial future here. Cryptocurrency has lots of unknowns. Crypto lives up to its name in that it’s pretty cryptic . Think about it: Nobody even knows who founded Bitcoin! Only a small percentage of people in the world really understand the blockchain technology crypto is based on. And ignorance makes you vulnerable. We always tell people that if you can’t explain your investments to a 10-year-old, you have no business investing in them to begin with. You’re setting yourself up for a big mess. P.S. Even though it might seem like everyone and their grandpa is investing in crypto, only a small number of people say they’ve ever actually invested in it (17%). And many have little to no confidence in the reliability or safety of cryptocurrency (63%). 3 One study showed that only 8% of Americans feel positively about crypto, which coincidentally is the same percentage of Americans who feel positively about The Bachelor franchise. 4 Cryptocurrency makes theft and fraud easier. Hackers stole more than $2.47 billion of crypto in the first half of 2025. Yes, $2.47 billion ! And here’s what’s really crazy: That number already surpasses the amount of crypto stolen in all of 2024 combined. 5 Hackers have routinely pulled off heists on the level of The Italian Job —and they didn’t need Marky Mark or a fleet of Mini Coopers to do it. Stealing millions from a traditional bank is almost unthinkable, but it happens all the time in the world of crypto. And hackers aren’t the only ones stealing crypto. FTX, one of the largest platforms for buying and selling crypto, went belly-up in November 2022 after its founder, Sam Bankman-Fried, was arrested and charged with fraud for stealing money from his customers’ accounts. FTX customers lost billions of dollars. Crypto just seems to attract seedy characters. Now look, we’re not saying everyone who uses cryptocurrency is a bad guy who’s dodging the government and making shady deals on the black market. But if someone wanted to commit a crime and fly under the radar without being tracked, cryptocurrency is going to call their name. 6 Cryptocurrency Laws Crypto laws and regulations vary a lot from country to country. Ten countries, including China, have banned cryptocurrency—and many others have implemented partial bans. 7 Two countries (El Salvador and Central African Republic) jumped all in and adopted Bitcoin as legal tender. 8 In the U.S., more and more businesses have started accepting crypto as payment, but it’s not legal tender. Crypto is overseen and regulated by the Financial Crimes Enforcement Network, the Securities and Exchange Commission (SEC), the Commodities Futures Trading Commission, and the U.S. Treasury Department. 9 Under its new leadership, the SEC is working to lay out clear, commonsense rules for crypto. In January 2025, the SEC established the Crypto Task Force in an effort to provide clarity so investors aren’t left guessing and innovators aren’t punished for trying to, well, innovate. 10 Meanwhile, Congress has been trying to set up a framework to better regulate crypto for years. And while a comprehensive system still doesn’t exist, there are signs of progress being made on that front. Most notably, the Senate recently passed legislation that would set up some new rules for regulating stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar (but final passage is still pending). 11 The U.S. government was also looking into creating a central bank digital currency (CBDC), a government-backed digital currency that’s legal tender. Those efforts appear to be on hold (for now). But if a U.S. CBDC becomes a reality, there’s no telling how it would impact the value of cryptocurrencies. Taxes on Cryptocurrency Earnings We left out one other agency that oversees crypto: the IRS. Yes, when you make money buying and selling crypto, the tax man will come calling. Crypto profits are taxed as capital gains just like the proceeds from selling stocks or bonds. If you sell or spend crypto that you owned for one year or less, this is considered short-term capital gains , and you’ll pay taxes on your profit at your normal income tax rate. If you make a profit on crypto that you owned for more than a year, that’s long-term capital gains, and the tax rate is usually lower. Cryptocurrency as a Long-Term Investment Some financial institutions offer cryptocurrency self-directed IRAs , which allow you to invest in crypto for retirement in a tax-advantaged account. Crypto IRAs aren’t super common—and probably for good reason. Crypto isn’t known for being a good long-term investment because of its volatility. You shouldn’t put your nest egg into investments that could be here today and gone tomorrow! Should I Invest in Cryptocurrency? Crypto investing has left behind a trail of bright young people who are now depressed and broke with no friends. Following the 2022 crypto crash, a Twitter account called “Coinfessions” sprang up. It’s full of sad stories of broken dreams. If you won’t listen to us about the dangers of crypto, take a look at this Twitter post: “My family still thinks I’m rich. I have no friends, no GF, and spend 12-14 hours a day staring at charts. I have $4.9K at the moment. 6 figure student loan debt, $20k+ CC debt. Every day is hell on earth.” Listen, you can try your hand at cryptocurrency if you want to. If you have some money you’re willing to lose, money that you might’ve thrown away on a roulette wheel in Vegas instead, knock yourself out. We’re not going to be mad at you for that. But we want you guys to win with money and secure your retirement future—and there’s just no evidence that cryptocurrency will do that for you. Plain and simple—investing in cryptocurrency is not a good way to build wealth for your future. Now, we’re not saying cryptocurrency is going to go away. And we’re not saying it's horrible. But we are saying that crypto doesn’t have a proven track record of building wealth. If you really want to invest in something with a solid track record, here’s the better plan: If you’re out of debt, have an emergency fund that’ll cover 3–6 months of expenses, and you’re ready to invest, then focus on investing 15% of your income in growth stock mutual funds. They have a much longer track record of steady growth over the long term than crypto. Don’t give in to a craze just because there’s a lot of hype. We’ve talked to people who have taken out a mortgage or cashed out their entire 401(k) early to invest in cryptocurrency—heck no! Don’t put it all on the line and risk your financial future, your retirement dreams and your family’s well-being. If you can’t afford to lose the money, don’t invest it in something as unstable as crypto. A Better Way to Invest Bottom line? The road to building wealth is slow and steady, and there are still way too many unknowns when it comes to cryptocurrency. Could crypto become a more legit way to invest later on down the road? Maybe. But as things stand today, just say no. Get-rich-quick schemes are just that — schemes. Don’t risk it and pour all your hopes, dreams and money into them. Learn more about Ramsey Solutions’ investing philosophy that has helped millions of Americans save for retirement and become millionaires over time. You can diversify your portfolio by spreading your money between different investments. This can help you lower your investment risk and take advantage of compound growth. The SmartVestor program can connect you with several investment professionals in your area who can help you invest for the future. Frequently Asked Questions This article provides general guidelines about investing topics. Your situation may be unique. To discuss a plan for your situation, connect with a SmartVestor Pro. Ramsey Solutions is a paid, non-client promoter of participating Pros. Get Weekly Insights Delivered Straight to Your Inbox Did you find this article helpful? Share it! About the author Ramsey Solutions Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners. Learn More.
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Please try again. * - [What Kind of Investment Is Cryptocurrency?](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_0) - [Is Crypto a Safe Investment?](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_1) - [What Are the Risks of Investing in Cryptocurrency?](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_2) - [Cryptocurrency Laws](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_3) - [Taxes on Cryptocurrency Earnings](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_4) - [Cryptocurrency as a Long-Term Investment](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_5) - [Should I Invest in Cryptocurrency?](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_6) - [A Better Way to Invest](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_7) [Investing & Retirement](https://www.ramseysolutions.com/retirement#feed-content) [Investing](https://www.ramseysolutions.com/retirement?category=investing#feed-content) # Is Crypto a Good Investment? 10 MIN READ \\| FEB 2, 2024 ![Ramsey Solutions](https://cdn2.ramseysolutions.net/dynamic/media/landing-pages/blog/author-bio-ramsey-large.jpg/48w.jpg) By [Ramsey Solutions](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#authorbio) ![An illustration of a computer with icons of crypotocurrency logos, including Bitcoin, with text that reads Investing in Cryptocurrency](https://cdn.ramseysolutions.net/daveramsey.com/media/blog/retirement/investing/cryptocurrency.jpg) Save Share Link copied\! Unable to copy link. Please try again. * ### In This Article - [What Kind of Investment Is Cryptocurrency?](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_0) - [Is Crypto a Safe Investment?](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_1) - [What Are the Risks of Investing in Cryptocurrency?](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_2) - [Cryptocurrency Laws](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_3) - [Taxes on Cryptocurrency Earnings](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_4) - [Cryptocurrency as a Long-Term Investment](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_5) - [Should I Invest in Cryptocurrency?](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_6) - [A Better Way to Invest](https://www.ramseysolutions.com/retirement/investing-in-cryptocurrency#heading_7) ### Key Takeaways - Cryptocurrencies are digital assets people use as investments and to buy stuff. - Crypto isn’t a good investment because of risks like volatility, an unproven rate of return and fraud. - Crypto has been banned by some countries, and the U.S. is looking for ways to regulate it. Is investing in crypto a good idea? [![money bag](https://cdn.ramseysolutions.net/media/landing-pages/blog/inline-icons/money-bag.png) Market chaos, inflation, your future—work with a pro to navigate this stuff.](https://www.ramseysolutions.com/retirement/smartvestor) Nope. Next question. Okay, we can hear the crypto bros from here. Hang around, and we’ll dig into all the reasons why you shouldn’t bet the farm (or your retirement future, for that matter) on crypto. You’ve probably heard stories of people making millions (or losing millions) investing in cryptocurrency. But here’s the million-dollar (or million-bitcoin?) question: Should you invest in cryptocurrency? Despite what every loudmouth on the internet yells at you from their digital soapbox, buying cryptocurrency isn’t a safe bet for your investing future. In fact, more than 80,000 [Bitcoin](https://www.ramseysolutions.com/retirement/what-is-bitcoin) millionaires who were living high on the hog saw their accounts drop several zeros during the [crypto crash](https://www.ramseysolutions.com/retirement/crypto-crash) of 2022.[1](https://cointelegraph.com/news/80-000-bitcoin-millionaires-wiped-out-in-the-great-crypto-crash-of-2022) Easy come, easy go, right? But we’ll get more into that in a minute. Let’s unpack what crypto is first. ## What Kind of Investment Is Cryptocurrency? Cryptocurrencies are digital assets people use for investing and for buying stuff. You exchange real currency, like dollars, to buy coins or tokens of a certain kind of cryptocurrency. You’ve probably heard of some of the big names in [cryptocurrency](https://www.ramseysolutions.com/retirement/what-is-cryptocurrency): Bitcoin, Dogecoin, Litecoin and Ethereum. But there are actually thousands of types of crypto out there. Crypto investors buy crypto and hope it goes up in price so they can sell it for a profit. You know, “buy low, sell high” and all that jazz. Investors might buy and sell Bitcoin or any of the other cryptocurrencies lots of times as the price goes up and down. Or they might stockpile it, planning for the day when it’ll grow into a fortune that will make all their digital dreams come true. A few years back, some people were raking in lots of moolah by investing in crypto. But the crypto market was in a bubble, and the thing about bubbles is that they pop. And that’s what happened in 2022 when two cryptocurrencies (Luna and Terra) collapsed. Panic set in and the crypto market lost about \$2 trillion in value.[2](https://fortune.com/2022/06/13/cryptocurrencies-black-monday-5-shocking-facts/) That’s 2 tril straight to nil\! [![](https://cdn.ramseysolutions.net/cms/sites/daveramsey-com/smartvestor/visual-cta-image.png)](https://www.ramseysolutions.com/retirement/smartvestor) ### Make an Investment Plan With a Pro SmartVestor shows you up to five investing professionals in your area for free. No commitments, no hidden fees. [Find Your Pros](https://www.ramseysolutions.com/retirement/smartvestor) Ramsey Solutions is a paid, non-client promoter of participating pros. ## Is Crypto a Safe Investment? If nothing we’ve said earlier has convinced you about investing in crypto, we’ll just flat-out say it: Crypto is not a safe investment. You could lose your shirt (and pants) messing around with crypto. Steer clear, Big Tuna. Head for open waters. Crypto is risky business. Yes, some people made lots of cash investing in crypto, but it’s all based on speculation—which is just a step above gambling. ## What Are the Risks of Investing in Cryptocurrency? Crypto is risky for a lot of reasons. But the big reason it’s not a safe investment is because it can have huge swings in price in the blink of an eye. In the investing world, that’s called volatility. And volatility isn’t good for an investment portfolio (or your mental health). Let’s take a look at the risks involved with crypto investing. ### Cryptocurrency is volatile. It’s true—crypto is about as hot-tempered and unstable as a 3-year-old scream-crying, “I’m not tired!” Crypto’s value swings way up only to come plunging back down, and you never really know what you’re going to get each day. Someone sneezes and the price drops! And unlike stocks that rise and fall based on a company’s performance, crypto goes up and down based purely on speculation. Inflation, recession fears and more regulation on [crypto mining](https://www.ramseysolutions.com/retirement/bitcoin-mining) have added to the volatility. You stir all those things together, and you’ve got one really gross pot of chili. Let’s be real here: All investing comes with some level of risk. But why jump all the way into the deep end with something this up and down? ### Cryptocurrency has an unproven rate of return. Cryptocurrency is exchanged person-to-person on the web without a middleman (like a bank or government). It’s like the Wild West of the digital world—but there’s no marshal to uphold the law. Because crypto has very few regulations, there’s no pattern to the rise and fall of its value. You can’t figure out the changes or calculate returns like you can with growth stock mutual funds. There just isn’t enough data, or enough credibility, to create a long-term investing plan based on cryptocurrency. Don’t play poker with your financial future here. ### Cryptocurrency has lots of unknowns. Crypto lives up to its name in that it’s pretty cryptic. Think about it: Nobody even knows who founded Bitcoin! Only a small percentage of people in the world really understand the blockchain technology crypto is based on. And ignorance makes you vulnerable. We always tell people that if you can’t explain your investments to a 10-year-old, you have no business investing in them to begin with. You’re setting yourself up for a big mess. P.S. Even though it might seem like everyone and their grandpa is investing in crypto, only a small number of people say they’ve ever actually invested in it (17%). And many have little to no confidence in the reliability or safety of cryptocurrency (63%).[3](https://www.pewresearch.org/short-reads/2024/10/24/majority-of-americans-arent-confident-in-the-safety-and-reliability-of-cryptocurrency/) One study showed that only 8% of Americans feel positively about crypto, which coincidentally is the same percentage of Americans who feel positively about The Bachelor franchise.[4](https://www.cnbc.com/2022/12/07/just-8percent-of-americans-have-a-positive-view-of-cryptocurrencies-now-cnbc-survey-finds.html) ### Cryptocurrency makes theft and fraud easier. Hackers stole more than \$2.47 billion of crypto in the first half of 2025. Yes, \$2.47 billion! And here’s what’s really crazy: That number already surpasses the amount of crypto stolen in all of 2024 combined.[5](https://www.coindesk.com/business/2025/07/01/crypto-investors-lost-usd2-5b-to-hack-and-scams-in-the-first-half-of-2025) Hackers have routinely pulled off heists on the level of The Italian Job—and they didn’t need Marky Mark or a fleet of Mini Coopers to do it. Stealing millions from a traditional bank is almost unthinkable, but it happens all the time in the world of crypto. And hackers aren’t the only ones stealing crypto. FTX, one of the largest platforms for buying and selling crypto, went belly-up in November 2022 after its founder, Sam Bankman-Fried, was arrested and charged with fraud for stealing money from his customers’ accounts. FTX customers lost billions of dollars. Crypto just seems to attract seedy characters. Now look, we’re not saying everyone who uses cryptocurrency is a bad guy who’s dodging the government and making shady deals on the black market. But if someone wanted to commit a crime and fly under the radar without being tracked, cryptocurrency is going to call their name.[6](https://www.wsj.com/finance/currencies/crypto-industry-robberies-attacks-32c2867a?gaa_at=eafs&gaa_n=ASWzDAiPl37FHwH3ufuivt3QhEn2HGbv4vem_yIBVP2c1smPg2XY7e-ZuU8qw3-Q9k8%3D&gaa_ts=68641266&gaa_sig=OWywh6CYEp3ubryj6uPuyJhzt-96DQxkpjz62BANhQmhLRV8LUfZocPeTZ7GPAtLNVpJyzE4NQMQ53wnxU5SRw%3D%3D) ## Cryptocurrency Laws Crypto laws and regulations vary a lot from country to country. Ten countries, including China, have banned cryptocurrency—and many others have implemented partial bans.[7](https://www.atlanticcouncil.org/programs/geoeconomics-center/cryptoregulationtracker/) Two countries (El Salvador and Central African Republic) jumped all in and adopted Bitcoin as legal tender.[8](https://www.reuters.com/world/africa/central-african-republic-adopts-bitcoin-an-official-currency-2022-04-27/) In the U.S., more and more businesses have started accepting crypto as payment, but it’s not legal tender. Crypto is overseen and regulated by theFinancial Crimes Enforcement Network, the Securities and Exchange Commission (SEC), the Commodities Futures Trading Commission, and the U.S. Treasury Department.[9](https://www.dowjones.com/professional/risk/glossary/cryptocurrency/us-eu-regulation/) Under its new leadership, the SEC is working to lay out clear, commonsense rules for crypto. In January 2025, the SEC established the Crypto Task Force in an effort to provide clarity so investors aren’t left guessing and innovators aren’t punished for trying to, well, innovate.[10](https://www.sec.gov/about/crypto-task-force) Meanwhile, Congress has been trying to set up a framework to better regulate crypto for years. And while a comprehensive system still doesn’t exist, there are signs of progress being made on that front. Most notably, the Senate recently passed legislation that would set up some new rules for regulating stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar (but final passage is still pending).[11](https://www.wsj.com/finance/currencies/senate-passes-stablecoin-bill-in-big-win-for-crypto-industry-44ee8aeb?gaa_at=eafs&gaa_n=ASWzDAjaqfXRGHli2BH3DHZOttH4yRpaT-mq6iuDJeAOg9uS8eET28BAKB3jE29ouTw%3D&gaa_ts=68658843&gaa_sig=WLlhbGLt5Cj9xytiezgbssqJg_Bbu3JEzueWtgsMywki1AiI06OR49EBJ5g3Nk4P7OHJmgmac6a7LkeIj0jJHw%3D%3D) The U.S. government was also looking into creating a [central bank digital currency](https://www.ramseysolutions.com/budgeting/cashless-society) (CBDC), a government-backed digital currency that’s legal tender. Those efforts appear to be on hold (for now). But if a U.S. CBDC becomes a reality, there’s no telling how it would impact the value of cryptocurrencies. ## Taxes on Cryptocurrency Earnings We left out one other agency that oversees crypto: the IRS. Yes, when you make money buying and selling crypto, the tax man will come calling. Crypto profits are taxed as capital gains just like the proceeds from selling stocks or bonds. If you sell or spend crypto that you owned for one year or less, this is considered short-term [capital gains](https://www.ramseysolutions.com/taxes/what-is-capital-gains-tax), and you’ll pay taxes on your profit at your normal income tax rate. If you make a profit on crypto that you owned for more than a year, that’s long-term capital gains, and the tax rate is usually lower. ## Cryptocurrency as a Long-Term Investment Some financial institutions offer cryptocurrency [self-directed IRAs](https://www.ramseysolutions.com/retirement/self-directed-ira), which allow you to invest in crypto for retirement in a tax-advantaged account. Crypto IRAs aren’t super common—and probably for good reason. Crypto isn’t known for being a good long-term investment because of its volatility. You shouldn’t put your nest egg into investments that could be here today and gone tomorrow\! ## Should I Invest in Cryptocurrency? Crypto investing has left behind a trail of bright young people who are now depressed and broke with no friends. Following the 2022 crypto crash, a Twitter account called “Coinfessions” sprang up. It’s full of sad stories of broken dreams. If you won’t listen to us about the dangers of crypto, take a look at this Twitter post: “My family still thinks I’m rich. I have no friends, no GF, and spend 12-14 hours a day staring at charts. I have \$4.9K at the moment. 6 figure student loan debt, \$20k+ CC debt. Every day is hell on earth.” Listen, you can try your hand at cryptocurrency if you want to. If you have some money you’re willing to lose, money that you might’ve thrown away on a roulette wheel in Vegas instead, knock yourself out. We’re not going to be mad at you for that. But we want you guys to win with money and secure your retirement future—and there’s just no evidence that cryptocurrency will do that for you. Plain and simple—investing in cryptocurrency is not a good way to build wealth for your future. Now, we’re not saying cryptocurrency is going to go away. And we’re not saying it's horrible. But we are saying that crypto doesn’t have a proven track record of building wealth. If you really want to invest in something with a solid track record, here’s the better plan: If you’re out of debt, have an emergency fund that’ll cover 3–6 months of expenses, and you’re ready to invest, then focus on [investing 15% of your income](https://www.ramseysolutions.com/retirement/how-to-start-investing) in growth stock mutual funds. They have a much longer track record of steady growth over the long term than crypto. Don’t give in to a craze just because there’s a lot of hype. We’ve talked to people who have taken out a mortgage or cashed out their entire 401(k) early to invest in cryptocurrency—heck no! Don’t put it all on the line and risk your financial future, your retirement dreams and your family’s well-being. If you can’t afford to lose the money, don’t invest it in something as unstable as crypto. ## A Better Way to Invest Bottom line? The road to building wealth is slow and steady, and there are stillway too many unknowns when it comes to cryptocurrency. Could crypto become a more legit way to invest later on down the road? Maybe. But as things stand today, just say no. Get-rich-quick schemes are just that—schemes.Don’t risk it and pour all your hopes, dreams and money into them. ### Next Steps - Learn more about [Ramsey Solutions’ investing philosophy](https://www.ramseysolutions.com/retirement/daves-investing-philosophy) that has helped millions of Americans save for retirement and become millionaires over time. - You can [diversify your portfolio](https://www.ramseysolutions.com/retirement/what-is-diversification) by spreading your money between different investments. This can help you lower your investment risk and take advantage of compound growth. - The SmartVestor program can connect you with several investment professionals in your area who can help you invest for the future. [Find an Investment Pro](https://www.ramseysolutions.com/retirement/smartvestor) ## Frequently Asked Questions ### Is cryptocurrency a good hedge against inflation? Crypto is not a good hedge against inflation because it’s volatile. To protect yourself from inflation, you want to invest in something that has a slow and steady growth rate that outpaces inflation, which is usually 2–3% (except in the last couple of years). Good growth stock mutual funds do this. Historically, the 30-year return of the S\&P 500 has been roughly 10–12%.[1](http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/histretSP.html) ### Is cryptocurrency going to be the new world currency? Cryptocurrency investing and spending has grown like crazy in the last few years, but it’s still not legal tender in most places. It’s doubtful that a cryptocurrency would become the new world currency because governments like to be in control of monetary policy. It’s much more likely for the U.S. to create a digital dollar that would be similar to a cryptocurrency but not quite the same. ### Where will crypto be in five years? Technology moves at the speed of light, so there’s really no telling where crypto will be in the next five years. Some so-called experts believe Bitcoin, the world’s largest cryptocurrency based on its market value, could soar to \$1 million in the next five years. Others think it could fall to \$10,000. Bitcoin is selling for about \$30,000 right now. This article provides general guidelines about investing topics. Your situation may be unique. To discuss a plan for your situation, connect with a SmartVestor Pro. Ramsey Solutions is a paid, non-client promoter of participating Pros. ### Get Weekly Insights Delivered Straight to Your Inbox #### Did you find this article helpful? Share it\! [![Ramsey Solutions](https://cdn2.ramseysolutions.net/dynamic/media/landing-pages/blog/author-bio-ramsey-large.jpg/120w.jpg)](https://www.ramseysolutions.com/about) About the author Ramsey Solutions Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners. [Learn More.](https://www.ramseysolutions.com/about) [More Articles From Ramsey Solutions](https://www.ramseysolutions.com/articles) ![Ask Ramsey](https://cdn.ramseysolutions.net/media/blog/article-template/ask-ramsey-header.svg) Get proven Ramsey answers fast. We're sorry but this site doesn't work properly without JavaScript enabled. Please enable it to continue. 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Readable Markdown	- Cryptocurrencies are digital assets people use as investments and to buy stuff. - Crypto isn’t a good investment because of risks like volatility, an unproven rate of return and fraud. - Crypto has been banned by some countries, and the U.S. is looking for ways to regulate it. Is investing in crypto a good idea? [![money bag](https://cdn.ramseysolutions.net/media/landing-pages/blog/inline-icons/money-bag.png) Market chaos, inflation, your future—work with a pro to navigate this stuff.](https://www.ramseysolutions.com/retirement/smartvestor) Nope. Next question. Okay, we can hear the crypto bros from here. Hang around, and we’ll dig into all the reasons why you shouldn’t bet the farm (or your retirement future, for that matter) on crypto. You’ve probably heard stories of people making millions (or losing millions) investing in cryptocurrency. But here’s the million-dollar (or million-bitcoin?) question: Should you invest in cryptocurrency? Despite what every loudmouth on the internet yells at you from their digital soapbox, buying cryptocurrency isn’t a safe bet for your investing future. In fact, more than 80,000 [Bitcoin](https://www.ramseysolutions.com/retirement/what-is-bitcoin) millionaires who were living high on the hog saw their accounts drop several zeros during the [crypto crash](https://www.ramseysolutions.com/retirement/crypto-crash) of 2022.[1](https://cointelegraph.com/news/80-000-bitcoin-millionaires-wiped-out-in-the-great-crypto-crash-of-2022) Easy come, easy go, right? But we’ll get more into that in a minute. Let’s unpack what crypto is first. ## What Kind of Investment Is Cryptocurrency? Cryptocurrencies are digital assets people use for investing and for buying stuff. You exchange real currency, like dollars, to buy coins or tokens of a certain kind of cryptocurrency. You’ve probably heard of some of the big names in [cryptocurrency](https://www.ramseysolutions.com/retirement/what-is-cryptocurrency): Bitcoin, Dogecoin, Litecoin and Ethereum. But there are actually thousands of types of crypto out there. Crypto investors buy crypto and hope it goes up in price so they can sell it for a profit. You know, “buy low, sell high” and all that jazz. Investors might buy and sell Bitcoin or any of the other cryptocurrencies lots of times as the price goes up and down. Or they might stockpile it, planning for the day when it’ll grow into a fortune that will make all their digital dreams come true. A few years back, some people were raking in lots of moolah by investing in crypto. But the crypto market was in a bubble, and the thing about bubbles is that they pop. And that’s what happened in 2022 when two cryptocurrencies (Luna and Terra) collapsed. Panic set in and the crypto market lost about \$2 trillion in value.[2](https://fortune.com/2022/06/13/cryptocurrencies-black-monday-5-shocking-facts/) That’s 2 tril straight to nil\! [![](https://cdn.ramseysolutions.net/cms/sites/daveramsey-com/smartvestor/visual-cta-image.png)](https://www.ramseysolutions.com/retirement/smartvestor) ### Make an Investment Plan With a Pro SmartVestor shows you up to five investing professionals in your area for free. No commitments, no hidden fees. [Find Your Pros](https://www.ramseysolutions.com/retirement/smartvestor) Ramsey Solutions is a paid, non-client promoter of participating pros. ## Is Crypto a Safe Investment? If nothing we’ve said earlier has convinced you about investing in crypto, we’ll just flat-out say it: Crypto is not a safe investment. You could lose your shirt (and pants) messing around with crypto. Steer clear, Big Tuna. Head for open waters. Crypto is risky business. Yes, some people made lots of cash investing in crypto, but it’s all based on speculation—which is just a step above gambling. ## What Are the Risks of Investing in Cryptocurrency? Crypto is risky for a lot of reasons. But the big reason it’s not a safe investment is because it can have huge swings in price in the blink of an eye. In the investing world, that’s called volatility. And volatility isn’t good for an investment portfolio (or your mental health). Let’s take a look at the risks involved with crypto investing. ### Cryptocurrency is volatile. It’s true—crypto is about as hot-tempered and unstable as a 3-year-old scream-crying, “I’m not tired!” Crypto’s value swings way up only to come plunging back down, and you never really know what you’re going to get each day. Someone sneezes and the price drops! And unlike stocks that rise and fall based on a company’s performance, crypto goes up and down based purely on speculation. Inflation, recession fears and more regulation on [crypto mining](https://www.ramseysolutions.com/retirement/bitcoin-mining) have added to the volatility. You stir all those things together, and you’ve got one really gross pot of chili. Let’s be real here: All investing comes with some level of risk. But why jump all the way into the deep end with something this up and down? ### Cryptocurrency has an unproven rate of return. Cryptocurrency is exchanged person-to-person on the web without a middleman (like a bank or government). It’s like the Wild West of the digital world—but there’s no marshal to uphold the law. Because crypto has very few regulations, there’s no pattern to the rise and fall of its value. You can’t figure out the changes or calculate returns like you can with growth stock mutual funds. There just isn’t enough data, or enough credibility, to create a long-term investing plan based on cryptocurrency. Don’t play poker with your financial future here. ### Cryptocurrency has lots of unknowns. Crypto lives up to its name in that it’s pretty cryptic. Think about it: Nobody even knows who founded Bitcoin! Only a small percentage of people in the world really understand the blockchain technology crypto is based on. And ignorance makes you vulnerable. We always tell people that if you can’t explain your investments to a 10-year-old, you have no business investing in them to begin with. You’re setting yourself up for a big mess. P.S. Even though it might seem like everyone and their grandpa is investing in crypto, only a small number of people say they’ve ever actually invested in it (17%). And many have little to no confidence in the reliability or safety of cryptocurrency (63%).[3](https://www.pewresearch.org/short-reads/2024/10/24/majority-of-americans-arent-confident-in-the-safety-and-reliability-of-cryptocurrency/) One study showed that only 8% of Americans feel positively about crypto, which coincidentally is the same percentage of Americans who feel positively about The Bachelor franchise.[4](https://www.cnbc.com/2022/12/07/just-8percent-of-americans-have-a-positive-view-of-cryptocurrencies-now-cnbc-survey-finds.html) ### Cryptocurrency makes theft and fraud easier. Hackers stole more than \$2.47 billion of crypto in the first half of 2025. Yes, \$2.47 billion! And here’s what’s really crazy: That number already surpasses the amount of crypto stolen in all of 2024 combined.[5](https://www.coindesk.com/business/2025/07/01/crypto-investors-lost-usd2-5b-to-hack-and-scams-in-the-first-half-of-2025) Hackers have routinely pulled off heists on the level of The Italian Job—and they didn’t need Marky Mark or a fleet of Mini Coopers to do it. Stealing millions from a traditional bank is almost unthinkable, but it happens all the time in the world of crypto. And hackers aren’t the only ones stealing crypto. FTX, one of the largest platforms for buying and selling crypto, went belly-up in November 2022 after its founder, Sam Bankman-Fried, was arrested and charged with fraud for stealing money from his customers’ accounts. FTX customers lost billions of dollars. Crypto just seems to attract seedy characters. Now look, we’re not saying everyone who uses cryptocurrency is a bad guy who’s dodging the government and making shady deals on the black market. But if someone wanted to commit a crime and fly under the radar without being tracked, cryptocurrency is going to call their name.[6](https://www.wsj.com/finance/currencies/crypto-industry-robberies-attacks-32c2867a?gaa_at=eafs&gaa_n=ASWzDAiPl37FHwH3ufuivt3QhEn2HGbv4vem_yIBVP2c1smPg2XY7e-ZuU8qw3-Q9k8%3D&gaa_ts=68641266&gaa_sig=OWywh6CYEp3ubryj6uPuyJhzt-96DQxkpjz62BANhQmhLRV8LUfZocPeTZ7GPAtLNVpJyzE4NQMQ53wnxU5SRw%3D%3D) ## Cryptocurrency Laws Crypto laws and regulations vary a lot from country to country. Ten countries, including China, have banned cryptocurrency—and many others have implemented partial bans.[7](https://www.atlanticcouncil.org/programs/geoeconomics-center/cryptoregulationtracker/) Two countries (El Salvador and Central African Republic) jumped all in and adopted Bitcoin as legal tender.[8](https://www.reuters.com/world/africa/central-african-republic-adopts-bitcoin-an-official-currency-2022-04-27/) In the U.S., more and more businesses have started accepting crypto as payment, but it’s not legal tender. Crypto is overseen and regulated by theFinancial Crimes Enforcement Network, the Securities and Exchange Commission (SEC), the Commodities Futures Trading Commission, and the U.S. Treasury Department.[9](https://www.dowjones.com/professional/risk/glossary/cryptocurrency/us-eu-regulation/) Under its new leadership, the SEC is working to lay out clear, commonsense rules for crypto. In January 2025, the SEC established the Crypto Task Force in an effort to provide clarity so investors aren’t left guessing and innovators aren’t punished for trying to, well, innovate.[10](https://www.sec.gov/about/crypto-task-force) Meanwhile, Congress has been trying to set up a framework to better regulate crypto for years. And while a comprehensive system still doesn’t exist, there are signs of progress being made on that front. Most notably, the Senate recently passed legislation that would set up some new rules for regulating stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar (but final passage is still pending).[11](https://www.wsj.com/finance/currencies/senate-passes-stablecoin-bill-in-big-win-for-crypto-industry-44ee8aeb?gaa_at=eafs&gaa_n=ASWzDAjaqfXRGHli2BH3DHZOttH4yRpaT-mq6iuDJeAOg9uS8eET28BAKB3jE29ouTw%3D&gaa_ts=68658843&gaa_sig=WLlhbGLt5Cj9xytiezgbssqJg_Bbu3JEzueWtgsMywki1AiI06OR49EBJ5g3Nk4P7OHJmgmac6a7LkeIj0jJHw%3D%3D) The U.S. government was also looking into creating a [central bank digital currency](https://www.ramseysolutions.com/budgeting/cashless-society) (CBDC), a government-backed digital currency that’s legal tender. Those efforts appear to be on hold (for now). But if a U.S. CBDC becomes a reality, there’s no telling how it would impact the value of cryptocurrencies. ## Taxes on Cryptocurrency Earnings We left out one other agency that oversees crypto: the IRS. Yes, when you make money buying and selling crypto, the tax man will come calling. Crypto profits are taxed as capital gains just like the proceeds from selling stocks or bonds. If you sell or spend crypto that you owned for one year or less, this is considered short-term [capital gains](https://www.ramseysolutions.com/taxes/what-is-capital-gains-tax), and you’ll pay taxes on your profit at your normal income tax rate. If you make a profit on crypto that you owned for more than a year, that’s long-term capital gains, and the tax rate is usually lower. ## Cryptocurrency as a Long-Term Investment Some financial institutions offer cryptocurrency [self-directed IRAs](https://www.ramseysolutions.com/retirement/self-directed-ira), which allow you to invest in crypto for retirement in a tax-advantaged account. Crypto IRAs aren’t super common—and probably for good reason. Crypto isn’t known for being a good long-term investment because of its volatility. You shouldn’t put your nest egg into investments that could be here today and gone tomorrow\! ## Should I Invest in Cryptocurrency? Crypto investing has left behind a trail of bright young people who are now depressed and broke with no friends. Following the 2022 crypto crash, a Twitter account called “Coinfessions” sprang up. It’s full of sad stories of broken dreams. If you won’t listen to us about the dangers of crypto, take a look at this Twitter post: “My family still thinks I’m rich. I have no friends, no GF, and spend 12-14 hours a day staring at charts. I have \$4.9K at the moment. 6 figure student loan debt, \$20k+ CC debt. Every day is hell on earth.” Listen, you can try your hand at cryptocurrency if you want to. If you have some money you’re willing to lose, money that you might’ve thrown away on a roulette wheel in Vegas instead, knock yourself out. We’re not going to be mad at you for that. But we want you guys to win with money and secure your retirement future—and there’s just no evidence that cryptocurrency will do that for you. Plain and simple—investing in cryptocurrency is not a good way to build wealth for your future. Now, we’re not saying cryptocurrency is going to go away. And we’re not saying it's horrible. But we are saying that crypto doesn’t have a proven track record of building wealth. If you really want to invest in something with a solid track record, here’s the better plan: If you’re out of debt, have an emergency fund that’ll cover 3–6 months of expenses, and you’re ready to invest, then focus on [investing 15% of your income](https://www.ramseysolutions.com/retirement/how-to-start-investing) in growth stock mutual funds. They have a much longer track record of steady growth over the long term than crypto. Don’t give in to a craze just because there’s a lot of hype. We’ve talked to people who have taken out a mortgage or cashed out their entire 401(k) early to invest in cryptocurrency—heck no! Don’t put it all on the line and risk your financial future, your retirement dreams and your family’s well-being. If you can’t afford to lose the money, don’t invest it in something as unstable as crypto. ## A Better Way to Invest Bottom line? The road to building wealth is slow and steady, and there are stillway too many unknowns when it comes to cryptocurrency. Could crypto become a more legit way to invest later on down the road? Maybe. But as things stand today, just say no. Get-rich-quick schemes are just that—schemes.Don’t risk it and pour all your hopes, dreams and money into them. - Learn more about [Ramsey Solutions’ investing philosophy](https://www.ramseysolutions.com/retirement/daves-investing-philosophy) that has helped millions of Americans save for retirement and become millionaires over time. - You can [diversify your portfolio](https://www.ramseysolutions.com/retirement/what-is-diversification) by spreading your money between different investments. This can help you lower your investment risk and take advantage of compound growth. - The SmartVestor program can connect you with several investment professionals in your area who can help you invest for the future. ## Frequently Asked Questions This article provides general guidelines about investing topics. Your situation may be unique. To discuss a plan for your situation, connect with a SmartVestor Pro. Ramsey Solutions is a paid, non-client promoter of participating Pros. ### Get Weekly Insights Delivered Straight to Your Inbox #### Did you find this article helpful? Share it\! [![Ramsey Solutions](https://cdn2.ramseysolutions.net/dynamic/media/landing-pages/blog/author-bio-ramsey-large.jpg/120w.jpg)](https://www.ramseysolutions.com/about) About the author Ramsey Solutions Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners. [Learn More.](https://www.ramseysolutions.com/about)
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