Ok where do I invest my money then? Its very difficult for the working class to put their money anywhere safe and have it earn anything. The market drove people to those risks before some rich people figured out that getting into crypto exchanges would help them profit off of that risk taking financial decision.
Ok where do I invest my money then?
Well-diversified mutual funds, or something equivalent to that, and in particular you want a mixture of asset classes such as stocks and bonds. You also want to have a hierarchy of investments, ranging from very low-risk but also low-growth investments for your emergency savings that you can tap at a moment’s notice to high-risk but also high-growth investments for savings that you do not need to tap for a long time (such as for retirement, assuming that is far off). “High-risk” in this context doesn’t mean “risk of your investment disappearing” so much as “risk of your investment suffering from a dip in value at the time when you need it”.
But to reiterate: the most important thing here is diversification, because diversification means that some of your investments can drop in value by a lot or even become worthless without causing you to lose everything. Putting all of your money into a single asset or kind of asset, such as a cryptocurrency, is basically the opposite of what you want to be doing.
