According To A Poll 60% Crypto Investors Have Seen Their Personal Relationships Suffer As A Result Of Their Investing In Crypto

According to .Tech Domains Cryptocurrency Report, most crypto holders that took the poll have seen their personal relationships suffer as a result of their investing. The effect is the more pronounced then greater the share of the investment in crypto was as a proportion of the investors net worth.

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I'm not surprised at all that this is the case. I used to have a friend who was a vehement no-coiner that I talked to about my crypto investments a few years ago. That particular friendship wasn't too strong anyway for other reasons but it seems that my being a cryptohead was the last straw.

We're in a bull market and Bitcoin and all cryptocurrencies have gone up tremendously in the last year. Some of us have serious gains either still on paper because we're expecting more or realized already. If we have been talking about our investments and gains to our friends, relatives and acquaintances it is quite likely that we have been met with quite a bit of envy. During a bear market, the likely response would've been ridicule.

It is quite common for people not familiar with the space, particularly those with a conservative outlook, to be taken aback by the idea of investing in what once had a very shady reputation as cryptocurrencies. If, say, a parent or another family member knows about your involvement, they might be concerned.

Relationship partners or spouses are a group of people with a vested interest in your finances. If their risk tolerance is much lower than yours, they might be strongly against your investment in this space.

Because of all of the above, I would advise against talking about your crypto investments very much in real life. I don't even think there is any need for a spouse of yours to know about your investments but only as long as your investments are of a reasonable proportion of your net worth and if even losing everything would not affect your ability to provide for your family.

Talking publicly about being a crypto-investor and in detail if your bags are significantly large carries with it a risk of falling victim to a serious crime like a burglary or extortion. While committing such a crime is always very risky, the difference between someone stealing a physical object or forcing someone to make a bank transfer is that and stealing someone's crypto is that when you steal crypto it will be much more difficult to recover. Hence, you become a juicier target for criminals if you go and talk about your crypto investments in public a lot.

Privacy is important to a crypto-investor. In a way, it's part of the whole point of the space. Just keep your mouth shut in the company of the vast majority of the people you know and you'll mostly avoid any and all negative consequences. Even if you convince someone to invest in crypto, the odds are high that that person will not trade wisely.

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