31% of new crypto buyers influenced by friends. Here’s why that can be 'a bad idea,' advisor says.
click here for free passive crypto About a third of new crypto investors in 2022 used a friend's suggestion as their primary reason for buying, according to the FINRA Investor Education Foundation and NORC at the University of Chicago. Buying bitcoin, ethereum and other digital assets just on the basis of a friend's recommendation may lead to trouble, experts say. Investors may not understand the risk and volatility of cryptocurrency, or how it fits in a well-diversified investment portfolio.