Is Your Current Financial Advisor Standing In The Way Of Your Crypto Journey?

Pexels Image: CC0 License

Financial advisors have long been the gatekeepers of the financial world, guiding us in everything from the best investments to the most effective forms of money management. In an ideal world, you would be able to entirely hand over the financial reins to an advisor and trust that they'll always work with your best cash-based interests at heart.

Unfortunately, recent years have seen some of the best financial advisors butting heads with the budding world of cryptocurrency, and many of their clients are worse off as a result. Far from being able to sit back and rest easy, many crypto investors receive unhelpful advice or no advice at all from advisors who often still see crypto as more of a gamble than a viable investment choice.

As well as making it harder to manage your crypto, this advisor divergence is increasingly falling behind as crypto continues to take the financial floor. Before you know it, you could start missing out on crypto opportunities or failing to increase your crypto stockpile simply because your advisor doesn't want to know.

That's a problem, and it's something you'll want to overcome quickly to protect what could be an incredibly lucrative crypto portfolio. But what exactly are the signs that your current financial advisor might not have your best crypto interests at heart? Keep on reading to find out.

# 1 – A Lack of Crypto-Specific Knowledge
Your financial advisor might feel like your go-to font of knowledge for monetary matters, but let's get one thing straight – financial advisors don't know everything. This is especially true when it comes to crypto, as this decentralized currency barely even operates as a distant cousin to traditional cash. Instead, crypto is a totally separate concept which, while still dealing in things like trade and value, differs in everything from acquisition to variability and beyond.

Unsurprisingly, then, you can't necessarily ensure great crypto advice from any old financial advisor. In fact, you may find that some advisors are uncomfortable even discussing this sideline, particularly in countries like the UK, where providing crypto advice is forbidden.

Here in the US, however, many financial advisors are now seeking cryptocurrency specialisation. This means there is an increasing number of advisors who know how to help you navigate cryptocurrency investment. If your current financial advisor isn't one of them, and you believe that's holding your crypto journey back, then perhaps it's worth seeking advice from one of these alternatives.

Pexels Image: CC0 License

# 2 – No Ability to Spread Crypto Education
While some of us like our financial advisors to work silently behind the scenes, the vast majority of us like to know at least a little of what's happening with our cash. Hence why a quality financial advisor should be able to educate in matters including your general cash handling, right through to your investment choices, and beyond.

That level of educational understanding is equally, if not more important, in a crypto world that's filled with inevitable variability. The more you understand about the worth and potential of your crypto assets, the better able you'll be to use, grow, and manage them.

If your financial advisor can't give you that educational oversight, then it's definitely a red flag. For one thing, you simply can't guarantee that they understand what they're doing if they can't explain the basics to you. For another, this will leave you constantly in the dark about what could be the most lucrative investments of your life. So, seek knowledge. And if your advisor can't give it to you, then always look elsewhere.

# 3 – An Overly Cautious Approach
As mentioned, many financial advisors are still of the mind that cryptocurrency is a risk rather than a realistic investment. Because of this, even those who are beginning to consider crypto as a financial reality may take an overly cautious approach, where they could advise you to leave crypto sitting untouched for too long. This isn't an outwardly bad thing to do – crypto's volatility means that its value generally falls and rises over time. However, no one wants an investment that they can never spend.

What's more, the whole concept of keeping crypto tucked away is becoming increasingly outdated. Nowadays, it's entirely possible to spend rather than sit on your crypto savings. Major retailers, including Starbucks, Home Depot, and Wholefoods all accept crypto payments as standard. In fact, you can now do most of the things with crypto that you do with cash. There are even entire crypto casinos out there, as can be seen from this Bc Game review from Cryptomaniaks. And, of course, there is an increasing number of viable crypto trades on the investment market.

In other words, your crypto can currently do a lot for you, but not if you're simply sitting on it off the recommendation of your financial advisor. If you're fed up with hearing how risky your crypto is, then consider looking for somebody who understands its potential for daily use, as well as its long-term possibilities.

# 4 – A Skeptical Attitude

Pexels Image: CC0 License

Ultimately, financial advisors are there to help us get the most from the cash in the most effective ways. This is a benefit that you should also be able to feel across your crypto assets, but you may find that's not always the case. Advisors with an overly skeptical attitude towards cryptocurrencies in general may both undermine your crypto investment hopes and potentially put a stop to what could be lucrative choices moving forward.

This is a problem, because it may leave you doubting yourself, or missing out on the back of bad, unnecessarily negative advice. Of course, that's not to say you want an advisor who simply says yes to everything crypto – that would be equally harmful! You do, however, want an advisor who is willing to consider, direct, and champion your crypto choices just as happily as they would handle your cash.

You deserve to pursue the best possible crypto journey. Simply make sure you bring along the right financial advisor for the ride!