Cryptocurrency: A hot topic for financial advisors

Survey: 94% of financial advisors fielded client questions about cryptocurrency in 2021

Cryptocurrency is a hot topic for financial advisors, with 94% of them fielding client questions about it in 2021, according to a survey from Bitwise and WEB.

Advisors are divided on cryptocurrency

Advisors are divided on cryptocurrency, with some embracing it and others dismissing it as just another form of gambling. Erika Rasure, assistant professor in the online MBA at Maryville University, says many financial advisors are distrustful of cryptocurrencies. However, she also notes that advisors who are willing to learn about cryptocurrency can find it to be a valuable tool for their clients.

Advisors need to be able to answer client questions about cryptocurrency

As cryptocurrency becomes more mainstream, advisors need to be able to answer client questions about it. This includes understanding the basics of cryptocurrency, such as how it works and how to buy and sell it. Advisors also need to be able to discuss the risks and benefits of cryptocurrency with their clients.

Advisors can help clients navigate the cryptocurrency market

Advisors can help clients navigate the cryptocurrency market by providing them with guidance and support. This includes helping clients understand the different types of cryptocurrency, how to buy and sell cryptocurrency, and how to store cryptocurrency safely. Advisors can also help clients develop a cryptocurrency investment strategy that meets their individual needs.

Cryptocurrency is a complex and evolving asset class

Cryptocurrency is a complex and evolving asset class. Advisors who are willing to learn about cryptocurrency can find it to be a valuable tool for their clients. However, advisors need to be aware of the risks involved in cryptocurrency and should only recommend it to clients who understand those risks.