I read about the unfortunate Ukrainian crypto investors who lost millions of dollars in "investments", and I have a few basic theses as a reminder.

1) The best investment now is in the Defense Forces. It doesn't matter whether you and your assets are in Ukraine or in Europe – your security and well-being rest on the AFU.

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2) Long-term savings are still important, especially for today's adults, who will definitely not have a solidarity pension sufficient for their lives.

But if you want to invest in anything riskier than a government bond/deposit in a reliable bank, you should keep a few things in mind:

  • you should invest only after you have already set aside an intact "safety cushion" that covers at least six months of living expenses. Disability, loss of housing due to shelling, an expensive illness, whatever. If you don't have such a cushion, don't get into risky investments at all;
  • invest in something volatile like the stock market, real estate, or, God forbid, crypto – be prepared to keep your money for at least 5 years. 5 years will cover almost any business cycle. Your investment may drop in value, but if you're not on fire, you'll ride out the downturn and not record losses;
  • Always try to understand the risk profile of your investment – the probability of losing money, the time horizon, and the cost of administration, fees, etc..;
  • Diversify.

But investing the last of your money in crypto, hoping to make money, is just as good as buying lottery tickets. I mean, if it's entertainment, it's okay, but if it's all your hopes, it will hurt.

In general, all this should be explained by regulators from every angle, starting with financial literacy courses and requirements for disciplining market participants, with tough prosecution of those who simply collect money from financially illiterate people in a situation of information asymmetry, not to mention cryptoskimming.

But we have what we have. If this post prevents at least a couple of financial tragedies in such a difficult time, I will be happy.

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