Investing in cryptocurrency is one of many options for investing your money today. In fact, it’s pretty hard to avoid hearing about the crypto market and its opportunities. Still, all this buzz doesn’t mean it’s the safest way to invest your money; it’s just an option.
Last week, I was completely knocked out by a friend’s reaction when I simply asked, “How much do you have in your bitcoin wallet?” He suddenly wore a disdainful look. What happened? He replied, “It’s a long story. I heard glowing reviews on how cryptocurrencies have turned many into millionaires overnight, so I thought it wise to invest all I had on November 27, 2017. Little did I know I was throwing debt a welcome party. I don’t think I can ever invest my hard-earned cash on cryptocurrencies again.”
Actually, I felt pity for him. But the big question is, did he do his homework before putting all his money in? No, he didn’t. He merely heard people’s positive testimonies and jumped into it. The crypto market is, after all, highly volatile. It’s not a safe or low-risk type of investment. Therefore, don’t allow FOMO to swing you into making a swift and risky decision just like my friend. But If you are considering it, here are smarter ways to invest and still make the most out of it.