Among the latest Reddit hot topics is the fact that a user received an email from the USAA bank which was discussing crypto investments. It seems that the bank even offered a phone number to talk more about the issue. This is yet another proof that banks are gaining more and more interest in implementing the blockchain technology in their services and working with cryptocurrencies.
USAA bank teaches you about the crypto space
The Redditor even posted the whole email, and we have to admit that its content is pretty interesting. It also seems that more users have confirmed getting the same email, so fake news is out of the question.
The email begins by telling the recipient that they had probably heard about cryptos before and questioned whether it’s worth investing in them or not. Cryptos such as Bitcoin and Ethereum gained popularity and legitimacy, so lots of people are wondering if it’s worth investing, according to the bank. They also stated that an increasing number of customers are asking the USSA’s financial advisors more details on the subject.
“So far, we’ve taken a pretty conservative view on investing in cryptocurrency,” says Robert Steen, USAA advice director for retirement and complex financial planning. “But the question keeps coming back as the markets for cryptocurrency have been skyrocketing,” according to the email.
The email continued with a brief history of cryptocurrencies making sure to note that cryptocurrency is a highly volatile and speculative type of investment. Just like any other investments, it should be approached with high caution and risk awareness.
Investing strategies and caution
The bank goes on and writes that for most investors a rewarding strategy for exploring cryptos is to invest a small and disposable amount of cash such as $20-$50.
The mail recipient is also advised to “beware of the bubble” and goes on to explain how products like bitcoin and boom-and-bust “bubble” markets of the past are similar to each other.
The email stresses again the need for high caution regarding the whole crypto space and offers to provide more info and advice at a telephone number.
You can read the entire email on Reddit here. As expected, the thread is flooded with opinions that praise the USSA bank for having such an initiative to help its customers take the big step into the crypto space by informing them on the most critical issues.