Here Are Some Strategies to Buying Crypto
Investing in cryptocurrency is a hot trend. It can be highly profitable, but you can also find all your money is unexpectedly lost. Is digital currency right for your portfolio? Yes, if you reduce the risk with strategies that safely turn this emerging asset class to your advantage.
Mining cryptocurrency has a gold-rush allure but it’s a painstaking, complex and costly process with only sporadic rewards. The heyday for this approach was 10 years ago. As the maverick crypto market grows, other successful strategies are emerging.
You can buy crypto coins or tokens directly. They are considered a speculative investment, best suited to high-risk investors who can stomach the wild fluctuations this asset class experiences.
Most people don’t want the hassles of signing up with a cryptocurrency exchange and taking on the risks and responsibility of storing their digital currency in their own crypto wallet. If this describes you, then an exchange traded fund featuring crypto is a great option.
It’s an indirect, less risky approach, providing strategic exposure to cryptocurrency with lower risk. You don’t have to know how crypto works. As well, your portfolio is naturally more diversified through the fund you invest in.