You’ve heard of the feverish Fomo that’s gripped the crypto space over the past year, but did you know that Fomo has spread its tentacles into other financial markets?
Now there’s something called Celsius Crypto FOMO, which has taken over finance professionals who want to make quick cash without doing the hard work of building up their career or honing their skills.
With Celsius Crypto FOMO, these professionals can get their share of easy crypto profits without doing any research or making any real effort at all!
How are they able to do this?
Celsius Network – The Lure of FOMO
Financial experts are under siege by the crypto gold rush.
For anyone who’s inside in the industry, it’s all about bitcoin and other cryptocurrencies, said Bruce Bauknight, chief executive officer at Boston-based Campbell Wealth Management, which manages $1 billion. We are going to a blockchain world soon.
Celsius Security Features
Celsius doesn’t take custody, which means they don’t manage your private keys. You are in control and can do anything with your funds that you want.
If a new token is created and introduced on the Ethereum platform, Celsius’ wallet app will automatically include that token in the available balance and users can send, receive or trade it at any time.
What are the benefits?
Giving up a plush job and the stability it provides is difficult for most, but not for everyone. With the allure of 10-fold returns, many are willing to take the risk.
All my friends who used to work on Wall Street are investing in crypto, said Bloomberg’s Olga Kharif.
Like so many others, they’ve seen the meteoric rise in cryptocurrency prices and want to get their piece of the pie. The average salary at Goldman Sachs Group Inc., Citigroup Inc., JPMorgan Chase & Co., Bank of America Corp., Morgan Stanley and Wells Fargo & Co. ranges from $100,000 to $400,000 annually.
Getting Started
In November 2018, a group of Wall Street professionals collectively left over $200 million in bonuses on the table and switched their focus to investing in cryptocurrencies.
This shift highlights the significant influence FOMO can have when investors are faced with unfamiliar circumstances.
Further, as it becomes easier for traditional financial institutions to get involved in cryptocurrency investments, we may see an influx of finance professionals entering the space.
However, many institutions are still hesitant about trading cryptocurrency due to volatility concerns so there may be more time before we see larger numbers of traditional financiers entering this space.
Where can I find out more?
FOMO is a common acronym in the world of cryptocurrency. What does it stand for? It stands for fear of missing out.
Basically, people are buying into crypto-currencies like Bitcoin and Ethereum because they don’t want to miss out on the opportunity to make easy money.
However, as shown in this video produced by The Economist magazine, FOMO can be a very compelling fear indeed.
Questions Answered by Boris Shevchenko (CEO Celsius Network)
What are your thoughts on Celsius? Are you or have you ever been in the crypto space? What got you into it in the first place? What was your reaction when that started happening with Celsius? Do you think this is something that will get worse, like a snowball effect?
How do you feel about people who say they’re going back to regular banks because of this? Nowadays, most people cannot afford to take risk. It’s very important for us as an organisation to make sure we’re not taking unreasonable risks with our clients’ money.
We need to be able to sleep at night and put our heads on the pillow and know we’ve done everything we can. But I don’t believe there’s much risk. If anything, more transparency could be introduced into these systems.
There’s nothing worse than not knowing what your balance is!
Who is behind the project? (Team section)
CEO Jedidiah Taylor and CTO Austin Drake are both extremely accomplished individuals who have years of experience in the financial technology industry.
For the past few years, they’ve led teams that were focused on enterprise consulting for some of the world’s leading firms in the fields of banking, consumer goods, media, and automotive.
In 2018, Jedidiah was recognized as a Top Ten M&A Executive in Finance by Finance Online Professionals Forum. The following year, he was ranked as one of the top three executives at Goldman Sachs with an annual salary over $2 million dollars.
Austin has over 18 years of experience working at large tech companies like Apple and IBM where he spent time as Director of Innovation with responsibility for innovation strategy and management across product lines. He is also a computer science graduate from Carnegie Mellon University, where he graduated with honors.