OK, that may be an exaggeration.
But I will say that in this sector it’s exceedingly difficult to separate the fanfare from the fundamentals.
What’s next?Kim Kardashian promoting an obscure cryptocurrency?
At the same time, there’s a ton of investor misguidance.
Too many people are making financial moves off of pure adrenaline and speculation.
“Investing should be boring,” says Georgia Lee Hussey, founder ofModernist Financialin Portland, Oregon.
“If you’re super duper excited about your portfolio, you’re doing it wrong.
“There’s no rhyme or reason to it …
I’m not a fan,” he says.
But we can’t help but be curious.
Are there ways to test the crypto waters that are measured, emotionally intelligent and rooted in a strategy?
I have some ideas below.
And now, there are more choices than ever.
Crypto-related job opportunities surged 395% in the US between 2020 and 2021, according toLinkedIn.
That’s about four times more than job listings in the broader tech industry.
Consider stablecoins
Not into pegging your cryptocurrency’s success to a rallysparked by an Elon Musk tweet?
In short, a stablecoin is pegged to some other underlying asset.”
Many stablecoins are fixed to the US dollar.
Think of a stablecoin as you would chips at a poker table, says Dossett.
If you’re interested in learning about the crypto market, consider looking into blockchain.
As an investor, I’m bullish on the concept of blockchain.
Still want to buy crypto?
For starters, don’t bet the farm.
“It is an asset class in its infancy,” says Hussey.
“We don’t really understand the market because it’s not built to be understandable.”
Finally, invest in a bunch of currencies.
“To invest exclusively in a single category is something not even the best gamblers do.”
