Cryptocurrency is all the rage right now, but I'm not sure it's something I want to put my money into. I'm not even sure where to start or how profitable it really is. It seems like smoke and mirrors, but then again, so does the stock market.
Hind sight will again be 20/20, showing what you should have done in regard to crypto currencies, just like it is with stocks. High risk, high rewards/ losses.
Do you already have a fully funded emergency fund (at least 6 months living expenses saved)? If so, and you have additional money you don't mind losing then there are several options for investing, but I HIGHLY recommend that you invest in a low risk index fund before you jump into the super volatile world of crypto-currency. I (and a ton of other people) made good money on Dogecoin (DOGE.X) but I would not put my life savings into any of these. Whale investors come in and manipulate these keeping prices down, sideways or up at their own whim. It's a rollercoaster ride that is not for the faint of heart. If you are still convinced…research, research, research from scholarly sources and by all means don't listen to any pump/dump hype or fear mongers. Never trade on emotions, only facts. Best
Cryptocurrency may be a good investment if you like a lot of volitility and don't worry about seeing wild fluctuations in the amount of your investment. However, if you're like most beginning investors, you'd like to feel that your money is safe and will grow over time. Unless you like the adrenaline rush of big ups and downs, find a no-fee mutual fund that invests in stocks and bonds and set up a regualar investment timetable (monthly or quarterly investments). You won't get rich overnight, but you will have the basis for a good long term invesment.
What are the names of no fee mutual funds?
Thanks for the info. It seems that crypto is not for me. I don't have money to potentially throw away and not have it hurt my financial picture for a long time.
HODL!
only invest what you can afford to lose
Maybe etf are a better option for you?
PayPal success
I know the feeling, I invest small until I understand it more.
I was in the same position as you are in but I finally made up my mind last week and started with Shiba Inu coin. I heard it has a promising future. I bought it through Gate exchange. Try them! You can find lots of cryptocurrency coins or tokens that are not listed on other exchanges.
But who knows what the future holds with these digital currencies. Maybe they are the next big thing. Thank me later…
I'm looking into it
start small
