A recent query to personal finance guru Scott Pape has sparked debate about the risks of investing in cryptocurrency among young people.
A mother, who wishes to remain anonymous, reached out to Mr. Pape for advice on how to guide her teenage son's investment decisions. The boy had expressed interest in investing $1000 in BloFin, a centralised cryptocurrency exchange, with money saved by his mother.
Mr. Pape, known for his outspoken views on the dangers of gambling, suggested that the mother let her son invest his own earned money, rather than protecting him from potential loss.