Cryptocurrency: Debunking the Myth of ‘Cryptos’ That Captivates Half of global Youth


The Alluring Promise of High Returns

It seems almost unreal – the idea of investing and earning between 8% and 10% per month. Yet, this is the enticing promise that many ‘cryptoinfluencers’ make through their YouTube channels and Instagram accounts. The question arises: is the new playground of the ‘Investor Z’ a myth or reality?

With the rise of cryptocurrencies, particularly Bitcoin, Ethereum, and Dogecoin, among others, the world of digital currencies has captured the attention of millennials and Gen Z investors. The allure of quick gains and get-rich-quick schemes has drawn in many young individuals around the world.

These ‘cryptoinfluencers’, who position themselves as experts in the field, present a tantalizing vision of financial freedom and prosperity. They highlight success stories of early adopters who turned a few hundred dollars into millions with astute crypto investments. Through their social media presence, they create a sense of FOMO (Fear Of Missing Out), enticing young Spaniards to jump on the crypto bandwagon.

The Reality Check

However, it is essential to dissect the reality behind these promises and examine whether they are grounded in truth or fueled by speculation. Cryptocurrencies, unlike traditional financial instruments, are highly volatile and speculative in nature. While some investors have indeed profited handsomely from crypto investments, many others have experienced significant losses.

It is crucial for young investors to understand that the crypto market operates on a different set of rules compared to traditional stock exchanges. Factors such as market sentiment, regulatory developments, and even celebrity endorsements can have a profound impact on prices.

Moreover, the unregulated nature of the crypto market makes it susceptible to scams and fraudulent schemes. Many ‘cryptoinfluencers’ conveniently gloss over the risks and challenges involved in cryptocurrency investments, leading unsuspecting investors into potential financial pitfalls.

 Navigating the Crypto Landscape

So, how can young Spanish investors navigate this complex and volatile landscape? Firstly, education is key. Before engaging in cryptocurrency investments, individuals should thoroughly research and understand the fundamentals of blockchain technology, the underlying technology behind cryptocurrencies.

Additionally, it is crucial to be extremely cautious and skeptical of get-rich-quick schemes that promise astronomical returns. Investing in cryptocurrencies should be approached with the same level of diligence and analysis as any other investment.

Furthermore, diversification is paramount. Investing all funds in a single cryptocurrency is unnecessarily risky. Instead, spreading investments across multiple cryptocurrencies can help mitigate potential losses. It is also recommended to allocate a portion of the investment portfolio to more stable and traditional asset classes.


Lastly, seeking advice from licensed financial professionals can provide invaluable guidance and expertise. Consulting with an independent financial advisor or seeking opinions from trusted sources can help navigate the intricate world of cryptocurrencies.

While the allure of earning significant returns through cryptocurrency investments is undeniable, it is essential for young Spanish investors to approach this realm with caution, skepticism, and a firm understanding of the inherent risks. By debunking the myth surrounding ‘cryptos’ and fostering a knowledgeable approach, young Spaniards can make informed decisions and protect themselves from potential financial setbacks.