Our guide to those who fell for crypto and the one who didn’t. Spoiler alert: It’s Taylor Swift. Of course.

The initial appeal of cryptocurrencies was fairly obvious. The digital currencies heralded a new era of economic activity that didn’t require stodgy banks or heavy regulations and represented a democratisation of access to money in a way that was not possible before. 

Investing in cryptocurrency was also a way to earn high returns while supporting what crypto believers saw as the future of technology. 

And then all those celebrities jumped on the crypto bandwagon. The cryptocurrency world grew and even more people were encouraged to invest in digital currencies, many of whom were not fully aware that – despite the hype and short term highs – they were entering a highly volatile, loosely regulated world that was prone to money laundering, scams and corruption.