Are there any risks associated with owning cryptocurrencies?

Yes, there are several risks associated with owning cryptocurrencies, including potential loss of funds, market volatility, security vulnerabilities, scams and fraudulent activities, lack of government regulation, and taxation issues. Additionally, cryptocurrencies are not backed by any asset or government, so their value can fluctuate greatly over time. Lastly, cryptocurrencies are not FDIC-insured, so any funds lost due to theft or hacking cannot be recovered.