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Ever since Bitcoin appeared back in 2009, the subject of cryptocurrency has been captivating risk-takers and entrepreneurs. However, these days even regular people are considering this investment opportunity. People with money to spare who are usually fans of anonymous betting are willing to buy cryptos in order to make a profit. If you too are interested, you might be wondering whether or not now is the right time for this investment and what is the best way to do it.
In case you are new to the cryptocurrency subject and you have a lot of questions, you’ve come to the right place. Make sure to stay on the page if you want to find out whether or not to invest in crypto in 2021 and what is the best and safest way to do this.
Should You Invest?
This is a question a lot of adult citizens have. Unfortunately, there’s no sure answer when it comes to this question. This is simply because, like other investments, cryptocurrency is also unpredictable.
However, even though only 14% of U.S. adults own crypto, around 63% of Americans are “crypto curious.” This is based on a 2021 report done by crypto exchange Gemini. If you too are curious about cryptos, here are the essential things you need to know.
How safe is cryptocurrency?
Cryptocurrency is one of those “high risk, high reward” types of investments. It’s even riskier to invest in crypto than in regular stocks.
The main reason for this is the fact that no one knows for certain whether or not crypto will become a part of our society in the future. Of course, this doesn’t mean this investment can’t bring you a lot of money. However, before you invest, you should consider how much you can risk.
If you’re not one for taking risks, maybe this isn’t your cup of tea. This is especially true if you don’t have the nerves for unpredictable fluctuations.
For example, Bitcoin has lost roughly 80% of its value in the past, and Ethereum once lost nearly 95% of its value during one year. This can be pretty stressful and if you don’t have the nerves for this, you might not want to invest in crypto. If, however, you find this thrilling and fun, buying cryptos might be the best decision you ever made.
How To Invest Safely?
If you want to invest in crypto, you have to be careful. In other words, only invest money you can afford to lose. Also, try to build an emergency fund that will help you to survive if the prices of crypto go down. Whatever you do, try not to sell your crypto tokens while the prices are down.
Photo by Priscilla Du Preez on Unsplash