Investing in Crypto or cryptocurrency is a massive buzz word. But is it all talk or is there something to consider?
What is Cryptocurrency?
So Cryptocurrency is basically like a digital form of gold that is hard to fake or steal. It gets recorded on ledgers that are based on many servers making it almost impossible to lose records and hack. if you want a more in-depth read check out Investopedia.
Can I get a return on my investment?
Well, seeing as you get people known as Bitcoin Millionaires, I can assume so. With outrageous growth in short spaces of time, Bitcoin and other Crypto Currencies have shone over the last few years providing a high return for many, but a high loss for others.
Make sure you do your research by choosing a trusted provider and the right currency. There are many fakers on the internet trying to show perfect strategies. Unfortunately, there are no such things and it is impossible to know what will happen next. Investing in Crypto is hard. My rule is if it looks too good to be true. It probably is!
Should I invest in Cryptocurrency?
That is something you will need to discuss with your financial advisor. The advisor will go through your investments and your risk factors to work out your risk rating. Due to the price of Crypto changing so quickly and often, it is important to have a high-risk factor.
Crypto Currency is new and exciting! It offers very good potential as an investment in the right portfolio. However it needs to be well researched and discuss with a registered advisor to ensure your investment is safe.