Dave Ramsey Cryptocurrency, A Financial Expext Advice On Investing in Crypto

Dave Ramsey Cryptocurrency counsels crypto users as a personal finance expert. David Ramsey hosts the show The Ramsey show in which he gives various people advice on how to manage finances. The finance expert is best known for his seven-step plan to build oneself financially. 

At the age of 26, he went bankrupt and had to build his business again. Presently, Ramsey claims that he has helped over 10 million people by giving financial advice to them. With a net worth of over $200 million, he enjoys a lavish life. 

Various people follow him to learn how to manage their expenses while investing in their retirement plans or assets. The principle Dave follows is a classic one, beat debt, save, invest, and manage the budget. Hence, if people want to earn $200 million a year, they must follow the suggestions of a recognized finance expert.

What Should Dave Ramsey Say on Investing in Cryptocurrency?

Cryptocurrency has become a massive field of business through the popularity of digital marketing and online trading. Most of the jobs are transforming their physical work setups to digitalization by using advanced artificial technology. The ongoing trends incite young people to upskill their levels and follow professional crypto users to make it big. 

From interviews and blogs, the suggestions concocted for Dave Ramsey’s cryptocurrency opinion is that he doesn’t encourage people to invest in this thriving digital economy. In April 2021, Ramsey talked about two big names in the crypto industry; Bitcoin and Dogecoin. His view about investing in both companies is a stupid decision. 

To him, investing in crypto is liable to gambling. The methodical approach of putting money into mutual funds with a systematic track record of the investment is the best one. Moreover, he summarized his stance that gambling in crypto is akin to failed investments. 

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There are two reasons for that; one is that it’s hard to comprehend cryptocurrency strategies. Secondly, the value of such companies is all over the map. After investing money in it, the bottom could drop out anytime and its opposite is likely to happen any moment as well. 

In a nutshell, Dave Ramsey cryptocurrency advice helped various people. Shortly, he counsels people to invest in something they understand and avoid such risky investments that don’t guarantee a decent future or funds for retirement. 

Has Ramsey Never Invested in Cryptocurrency?

Dave Ramsey has never invested in crypto assets. Although his remarks are quite negative about digital currency. However, if one doesn’t have any decent options for investing their money. Then, they should seek the assistance of financial experts about investing in bitcoins or other crypto companies. 

If someone has enough funds and their investment plan is going by the book, they could seek finance advisers about other investing options like investing in cryptocurrency

According to Dave Ramsey’s blog, if one wants to embark on the journey of building funds for their future, one must invest 15% of the income for their retirement plan. Apart from that, if one has enough money to invest somewhere else, they should look over Crypto as well. 

Is Dave Ramsey Cryptocurrency a Safe Investment?

Crypto functions in the manner of buying low and selling high strategy. However, the profit isn’t a promised thing. Investors stockpile their money and wait for it to make big when the market is favorable to them. In 2022, the crypto market was in a bubble, popping up. 

Dave Ramsey Cryptocurrency, A Financial Expext Advice On Investing in Crypto-Gamesbing

Two crypto companies Luna and Tera lost $2 trillion in value and panic set across the world. In some seconds, two trillion dollars went to nill. Hence, cryptocurrency isn’t a safe module to invest in. It’s also true that some people have made it big through digital currency, but it’s all about speculation. 

Risks of Investing in Crypto

There are various risks of investing in crypto and one of the big reasons is uncertainty. In the investment world, uncertainty in a market is known as volatility, which is never a good thing. 


The stock price in crypto goes up and down unprecedentedly, purely on speculation rather than company performance. Hence, a person is gambling their money in a wild area with no rules. Crypto mining, recessions, and inflation fears have enhanced the mortality of this digital currency. 

Unproven Rate of Return  

Crypto has very few regulations and trading is accomplished person to person without third-party involvement (such as the government or a bank). One can’t figure out the changes in prices as one does in the stock market, hence, everything is puzzling here in the wild market. Only 8% of Americans feel positive about investing in Crypto according to a survey.  

Apart from that, there is not enough credibility or data to formulate a plan for long-term investment plan according to Dave Ramsey cryptocurrency blogs. No one even knows who invented Bitcoin, a big crypto company. Moreover, a few people in the world understand how blockchains work.  

Frauds in Cryptocurrency 

Fraud in this market is an everyday thing. In the first few months of 2023, $400 million was lost to hackers. This only makes up 30% of what the market lost in 2022. Apart from hackers and heists, company owners also steal money from their customers. 

FTX is one of the largest cryptocurrency platforms whose owner Sam Bankman Fried was arrested for embezzling money from his customers in FTX. Hence proved, that crypto is not a legitimate market. 

Cryptocurrency Laws and Adoption 

Crypto adoption and laws vary from country to country. Some countries have banned crypto including China. Whereas, some have adopted it as a legal currency like El Salvador and the Central African Republic (which adopted Bitcoin as legal tender). 

In the United States of America, various businesses invest in crypto and it’s widely accepted. However, it hasn’t received legal tender, and legal agencies are trying to sort out a plan to implement some laws on crypto companies to ensure the safeguard of the investors. 

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Financial Crimes Enforcement Network, the Securities, the Commodities Future Trading Commission, the Exchange Commission (SEC), and the U.S. Treasury Department are responsible for maintaining supervision over crypto companies. SEC is trying to implement laws on the digital market which is undertaken by the court. 

Moreover, the United States is trying to formulate a central bank digital currency (CBDC). If CBDC manifests itself in the world, it could greatly transform the significance of cryptocurrency. 

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