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At least in the U.S selling financial products like stocks, ETFs are regulated. Bank products like savings accounts are FDIC insured. Crypto products are not r
by senthil_rajasek 4y ago
At least in the U.S selling financial products like stocks, ETFs are regulated. Bank products like savings accounts are FDIC insured.
Crypto products are not regulated.
Crypto products are new, sophisticated and poorly understood by the average people and can hence be manipulated easily.
That's the main difference between traditional financial products and crypto.
- cwkoss 4y agoYour comment seems like a disingenuous attack rooted in sour grapes rather than principles. Stock options are regulated and less new, but they are also sophisticated, poorly understood by the average people, and manipulated easily. The idea that traditional financial markets are 'fair' to the common man is pretty naive: many brokerages intentionally front run their customers or charge unconscionable fees, and the market is rife with non-fiduciary investment advisors who sell products based on what provides the largest kickback rather than what's in the best interest of their customer.
- senthil_rajasek 4y agoThere are restrictions to opening Options and futures accounts in the U.S. Equating traditional financial system to crypto using front running, high fees etc., is false equivalency.