“Conversation Starter Lesson Series: Upper-Intermediate” is designed for intermediate-level ESL learners who want to improve their fluency and confidence in speaking English.
Each lesson includes an engaging reading material with audio, vocabulary and expressions, comprehension questions, and discussion questions to be used for one to one class, group class, or self-study for both online and offline classes.
Unit 7: Money and Finance
Story 02: Is Investing in Cryptocurrency Worth It?
Key Lesson Vocabulary & Expressions: Look over and review before proceeding.
- Cryptocurrency
- Virtual currency
- Cryptography
- Decentralized
- Volatility
- Speculative
- Due diligence
- Reliable
- Trustworthy exchange
- Tax implications
Read or Listen to the following passage:
Cryptocurrency is a digital or virtual currency that uses cryptography to secure and verify transactions and to control the creation of new units. The most popular cryptocurrency is Bitcoin, but there are thousands of other cryptocurrencies available in the market, such as Ethereum, Litecoin, and Ripple. Investing in cryptocurrency has become a popular trend in recent years, and many people see it as a lucrative opportunity. However, investing in cryptocurrency is not without risks and challenges.
One of the main advantages of investing in cryptocurrency is the potential for high returns.
Cryptocurrency prices are highly volatile and can experience significant fluctuations in a short period. This volatility has allowed some investors to make a substantial profit. Additionally, cryptocurrencies are decentralized, meaning they are not subject to government regulations, making it more accessible for people to invest.
However, investing in cryptocurrency is not a guaranteed way to make money. Cryptocurrency markets are highly speculative, and it is difficult to predict the direction of their prices. The high volatility of cryptocurrency also means that investors could lose a significant amount of money if the value of their investment decreases. Moreover, cryptocurrencies are susceptible to security breaches and hacking attempts, leading to the loss of the investment.
Investing in cryptocurrency requires a considerable amount of research and due diligence. Investors must understand the technology behind the cryptocurrency and the market conditions that affect its price. Investors must also choose a reliable and trustworthy exchange to buy and sell their cryptocurrencies. Additionally, investors must also consider tax implications and legal regulations surrounding cryptocurrency investments.
In conclusion, investing in cryptocurrency can be a lucrative opportunity, but it is not without risks and challenges. Investors must weigh the potential rewards against the risks before investing in cryptocurrency. It is also important to remember that investing in cryptocurrency requires careful research and due diligence.
Comprehension Questions:
- What is cryptocurrency?
- What are some advantages of investing in cryptocurrency?
- What are some risks of investing in cryptocurrency?
- What factors should investors consider before investing in cryptocurrency?
- Is investing in cryptocurrency a guaranteed way to make money?
Conversations Starters:
- What do you think is the future of cryptocurrency, and how will it change the way we use money?
- Have you invested in cryptocurrencies, and if so, what motivated you to do so?
- How important is due diligence when it comes to investing in cryptocurrencies, and what steps do you take to ensure that you’re making an informed decision?
- How do you evaluate the reliability of a cryptocurrency exchange, and what factors do you consider when making a decision to use one?
- What are some of the tax implications of investing in cryptocurrencies, and how do you manage your tax obligations as an investor?
- How does the decentralized nature of cryptocurrencies impact their potential to disrupt traditional financial systems, and what are some of the risks associated with this disruption?
- Do you think that cryptocurrencies are inherently speculative investments, or can they be a stable store of value over the long-term?
- Do you consider yourself as a risk-taker or are you risk averse?
- How has money and currency changed over time?
- What has been your personal experience with using cryptocurrencies, and how do you think they compare to traditional forms of currency and investment?
