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The Financial Conduct Authority (FCA) of the United Kingdom has started a huge anti-advertising campaign on YouTube and TikTok to safeguard young investors from making rash financial decisions.

Young people wrongly assume that if the digital currency market fails, the local financial authority would be able to “rescue them out” by returning their money, according to officials of the British FCA. The FCA discovered this “knowledge gap” in a survey of persons between 18 and 40.

The majority of respondents acknowledged that profits of up to 30% are a possibility. At the same time, Oaknorth Bank and Paragon Bank provide the best rate for investors on individual savings accounts (ISAs) in the UK, 0.86 percent. Over the last ten years, those who put their money in the British stock market have seen an average yearly return of 9.2 percent. As a result, a level of 30% or even greater appears “cosmic.” The Goldman Sachs corporation disclosed such information.

When it comes to digital currencies, price swings of up to 50% per day are common, making this form of asset very hazardous in the eyes of most international authorities and politicians. They, in turn, do not weary of reminding depositors frequently.

Furthermore, the Financial Services Compensation Program does not cover any crypto assets (FCSC). As a result, British investors who put their hard-earned money into regulated assets may rest certain that their funds are safeguarded up to a limit of £85,000 ($117,172) in the case of investment provider difficulties. In such circumstances, bitcoin investors and those who invest in Forex would lose all of their money.

With the outbreak of the epidemic, the number of people interested in cryptocurrencies and market volumes skyrocketed, as did the number of those who decided to invest in them. There were a lot of young Britons among these people who were lured into crypto investments by the buzz on social media and the press. Fifty-eight percent of respondents polled by FCA agreed with this statement. 76 percent of 1,000 persons aged 18 to 40 stated their investments were motivated by rivalry with friends, family, or acquaintances. At the same time, 68% of respondents equated this sort of income with gambling.

FCA unveiled a five-year InvestSmart marketing campaign for £11 million ($15.16 million) based on research and a commitment to safeguarding young investors. According to authorities, this will assist create awareness among young people about the risks of investing in cryptocurrencies. YouTube and TikTok, the most popular platforms among local young users, serve as the “springboard” for FCA materials dissemination.

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