Tokenized get-rich-quick schemes can be dangerous for people living in poverty.
Tokenized get-rich-quick schemes can be dangerous for people living in poverty.
The Roundtable: Risking it All—Crypto Investing and the Little GuyA panel of experts joined Roundtable to discuss strategies for crypto acceptance. In this segment, Shirley McPhaul Castro discusses crypto investing in Latin America.
"This is a financial movement," says Castro. "When you're developing this technology and you're looking to innovate, certainly mistakes will be made and people will lose."
She continues, "People are putting at risk money that they don't have. You should only invest with money you're willing to lose, but you can't tell someone living in Venezuela, or Colombia, who lives in poverty and suddenly they find themselves with the opportunity to make some money to feed their kids that they shouldn't put in a hundred dollars that they have."
"When I first started creating content about crypto in Spanish, I actually opened a TikTok account. I got so many text messages from parents all over Latin America, asking me how can they make money with this? It was just incredibly heartbreaking and overwhelming. A lot of people who simply don't have the funds will lose their money."
Watch the full discussion below:
Roundtable Guests:
Joel Comm, Host, Bad Crypto Podcast
Josh Berger, Co Founder, PKT Pal
Monika Proffitt, Founder, Rise Markets
Shirley McPhaul Castro, Director, Crypto Curious