Why Is It Economic Bigotry to Compare Crypto Trading to Gambling?

Despite the crypto community’s rapid rise into the mainstream, naysayers and the uneducated keep equating investing in crypto to gambling. It is high-risk and requires no expertise compared to investing in traditional assets. This comparison conveys an unfair and negative connotation laced with economic bigotry. This economic chauvinism penetrates popular media and discourages curious spectators. Historically, traditional finance has left these people behind, possibly profiting from one of this generation’s most exciting investment prospects. Higher education was formerly considered ‘unnecessary’ for women, and the few existent ‘women’s colleges‘ inferiors. In the same vein, they sometimes vilify crypto investments, which are open to everyone. Classist Connotations: Gambling Vs. Investing It is investing when a rich person believes in a risky asset. Gambling happens when a low-income or working-class individual does the same thing. Why? This dichotomy hides classism, prejudice, and economic bigotry. Historically, there’s been a restriction on the working-class populations from traditional investment markets due to a lack of financial and educational resources. Meanwhile, the rich have exploited their access to these resources to invest and build their wealth disproportionately. Investing involves risks, but there is a general idea that only the rich can judge which risks are worthwhile. This link suggests that the financial de...