There are many proponents of cryptocurrencies. If you spend any time on the internet, you've likely heard them proclaim how great these new products are and how they will revolutionize finance. It is no surprise then that the crypto economy grew from nothing 10 years ago to about $3 trillion at the peak of the bull market in 2021.

Today, with the price of Bitcoin down more than 50% from all-time highs, the market cap of all cryptocurrencies has fallen to about $1 trillion. However, many owners of these securities remain optimistic.

But the downsides of cryptocurrencies are there and have never been clearer to those who look at them through an objective lens. Here's why investors need to have major reservations before buying any crypto for their portfolios.

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Source Fool.com