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FOMO on crypto? Here’s what you should know before you make the leap

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It’s easy to write off cryptocurrencies as new-age fluff. Trust the millennials to come up with a currency that has no physical form, is not legal tender in most countries, and is so volatile that you can turn from pauper to prince — and vice-versa — in minutes. And FOMO (fear of missing out) appears to be its biggest investor draw.

Yet, cryptos are now almost a decade old, and obviously here to stay. For all the accusations of their volatility and ‘feebleness’, they did withstand two major global recessions. As of Saturday, August 14, the value of the global crypto market stood at $2.06 trillion.

While they were initially viewed as the currency for shady dark net transactions, it’s now becoming apparent that their technological sturdiness, and complete transparency and traceability, will only keep criminal activity at bay. Governments are beginning to accept their inevitability and beefing up the regulatory system to…

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