Have you considered Crypto part of your Diversified Portfolio yet?
Cryptocurrency has minted many more billionaires within a relatively short space of time than any other industry. True or False? Total profits made in 2021 amounted to $163 billion. It is unprecedented in any other industry.
Depending on your level of tolerance to risk, you should consider adding cryptos to your diversified portfolio as an investor.
It experienced a crash recently and some people thought it would deliver the death knell they had been waiting for. Like a cat with nine lives, Bitcoin, the most prominent cryptocurrency is making a rebound in a very short time.
In the Statista survey of 1,000+ US adults 18-64 who own a crypto investment or are very likely to own one in the next two years, it is refreshing to note that there was a 10% increase in the number of those who owned crypto investment and a 4% hike in the number of would-be investors. It is safe to conclude that investment in crypto is on the ascendancy
I believe with all my heart that Crypto will eclipse our outdated fiat system of payment because of the obvious advantages a cryptocurrency has over and above our current fiat system. It's just a matter of time.
One of the core advantages of a decentralized currency is that they can transact from one party to another without being monitored or controlled by a regulatory body. Payments can be effected in a matter of seconds.
I know this is of cold comfort to those who like to see enforcement of regulations in fiscal matters and that this fact is enough to send them scampering away from Cryptocurrency but some of us are drawn to it because of the absence of red tape which can be time-wasting
Contrary to suspicions by the public, Defi systems allow for a high degree of transparency even though it eliminates intermediaries along the way.
Every transaction is recorded on an inerasable ledger or blockchain and can be viewed by every one in the transaction loop.
Cases of missing transaction do occur especially if one is not vigilant to ensure his wallet address is correct. It is very easy to slip into someone else's wallet address without realizing it. It is akin to someone not appending the right address to their envelopes. The mail will not get to the desired location. Instead, USPS or FEDEX will take it to the address on the envelope. I experienced a loss once just because I was not careful to verify my wallet address and ensure it is mine before I authorized transaction.
My question to you is: what are you waiting for? Are you waiting until Crypto becomes so commonplace that it is accepted by every shopkeeper and restaurateur before you join the bandwagon. In some upcoming Cryptocurrencies, this is the time to join in the ground floor. I am not talking of the big-time cryptos like Bitcoin or Ethereum. Elon Musk and other big time Crypto investors did that long time ago. But just for a second, I want you to imagine being one of the earliest investors when Steve Jobs started Apple or Bill Gates started Microsoft in his father's garage.
This is the time to get your feet wet in Defi protocols, at least. It is the wave of the future. No other way to do so than jumping in with both feet.
Recent Comments
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I've been investing money I can afford to lose in crypto since 2017. I watch it go up and down and keep my emotions out of it. Next month Ethereum is due to go live with its highly anticipated proof of stake, and more eco-friendly blockchain. At that time I believe it will skyrocket and drag other digital coins up with it.
Crypto is still a tricky place to invest. Some of the coins I bought at $ .20 went way up, some went down. There is no way to time it. The recent crash was bad, but if you keep your hands off it when it goes down, it always goes back up. I was down about a couple of thousand after the crash but I'm back up a few thousand.
I have heard of people losing thousands of dollars because they jump in without doing research and they freak out because they invested their life savings ---and they start selling when the market is down because they panic. A recipe for financial disaster.
It's still in its infancy, so it's not going anywhere. Some of the companies that are in full use will be tomorrow's Apple or Microsoft for Web 3.0, It's probably a great niche once these companies start offering ad networks. 😊
Wendy
Thank you for your well informed post. It’s evident that you have garnered a lot of experience in the Crypto world. I love the cautious but optimistic approach you advocate
Hi, Wendy.
2016 & 2017 were great times to acquire BTC.
I got lucky and had accrued just over 10 BTC during those times.
Fast forward. I liquidated most of them when BTC hit 25K. Should have waited until it hit 64K.
Needless to say, I am debt free, and my son's student loans are history.
Thank you for sharing.
Paul from Canada.
Hi!
I really just want to warn you about ETH and it’s proof of stake model. I regularly watch “Trader University” on YouTube which is excellent because he takes a birds eye view of trading.
Here is an interesting video of these problems with ETH, should you want to know: https://youtu.be/MvALCGH1hUY
Darlene
Hi Darlene.
Thank you for the link.
It doesn't want to load.
Perhaps you can provide the "He." and I will google him.
Thanking you in advance.
Paul.
I'm not daring enough to stake my eth. You really need to know what you're doing. I staked a different coin and it's doing well. Most everyone who deals in crypto understands they are taking a big risk and none of it is insured. If something goes south, one is out of luck.
I mostly deal with Coinbase because they were thoroughly vetted by the SEC. Coinbase has a disclaimer on the site that if you stake your eth you can't just get it back so easily. So none of the Youtube video is news.
Personally, I take everything on Youtube with a grain of salt. I've been listening to the crypto doom and gloomers for years.
And ignoring them has been financially rewarding for me.
In order to stay viable and competitive, and environmentally friendly Ethereum had to move to Proof of Stake, and they've been planning and preparing for the merge for a very long time.
I always try to remember that everyone on Youtube is doing what we're being taught here at WA: Offer useful information, get attention, and make some money. There's an agenda behind every bit of information.
I've done my research, Dada and have been on the fence for the longest, seeing the pros and cons of crypto.
Now personally I don't mind some alternative form of currency that is not centralized. There's a time and place when the government shouldn't have the fingers on someone's assets, or possibly 'freeze' them - but I don't want to go down that rabbit hole.
I have spoken to my advisors about it, and they tend to place it in the same category as investing in gold and silver.
Just my thoughts!
Appreciate the post.
Isaiah 😊
Isaiah, thank you so much for your contribution. I have to say you are starting on a good footing by doing your own research and even getting professional help.
Your fence-straddling days will be over soon. I can assure you
People say that Crypto is here to stay and I guess it is if you look at who really created this in the first place, but you know this is never going to be revealed.
You have to ask, who really benefits from Crypto and Bitcoin and its the ones who are controlling the whole thing.
The mega-rich!
They know exactly what they are doing and when people, see in this case "Bitcoin" starting to rise, everybody gets on board with the hopes of "getting-rich-quick".
You see, that mentality is there too!
Just look at the SCAMS that are out there promising returns of 100, 200 per cent and more...
This is a ponzi scheme on a massive scale and I just don't know why people can't see it?
Well we know that the biggest PONZI scheme on the planet is the banking system, right?
If you look right there then you probably have the culprits who started crupto in the first place!
The best place to hide something is to put it in plain site!
Ask the questions, why are there well over 7,000 cypto currencies?
Anyway, you obviously have worked out what my view on crypto is.
Have a nice day
Mick
I obviously know where you stand when it comes to Crypto. If the whole banking system is a ponzi schem, e, then maybe Cryptocurrency is ponzi too.
One thing there's no doubt about is there are lots of scams in Crypto. One needs to tread carefully to avoid the minefield of scams.
Mick, thank you for your contribution. I appreciate it
I really should take the plunge. I’m an old “fuddy duddy “ and it still scares me a bit. But this year I endeavor to read more and give it ago.
Personally I think the financial system will change away from the USdollar platform. But it might not go crypto. My worries are that a form of digital dollar would be introduced.
As a government, I would love it. As I would have total control. You could track every dollar, thus every person in the USA. You could turn the dollar off for alleged criminals down to an individual level. It would be a great way to come after your dollar and totally control the financial system….and take it out of the hands of the financiers and into the hands of the politicians. Wouldn’t that be great.hmmm.
So maybe we should go for the crypto alternative..
Stephen
The digital dollar is here already. The BUSD. If you go to Pancake Swap, you can purchase some. It does not change in value no matter what.However, you need cryptocurrency to purchase digital dollars which you can store in your wallet.
Zoopie, that’s exactly right. We need to get it done before the government can, beat it at its own game, so to speak. It would certainly seem like the billion dollar industries of Bitcoin and Etherium are on the way to doing it.
Hi, Dada.
If I may ad:
My preference is USDT as my "Stable Coin."
I also incorporate ECR20 and TRC20 sub platforms to accomodate lower transaction fees.
Buy coins low, sell when they go higher, convert any gains to USDT. Rinse and repeat.
If you believe in the concept behind the coin (read the white paper) don't panic when it drops. I usually buy more.
Cryptocurrency has changed my life 360.
Why?
Because I am in control of what I want to do and accomplish.
I live in Ontario, Canada.
The OSC (Ontario Securities Commission) is the most stringent in Canada.
A few months back, residents of Ontario could no longer use Binance and Huobi Exchanges (without a VPN).
I'm not into "camaflouge," (I should learn more about VPN's) because I took a "sh**Kicking" in "Ethereum Gas Fees" at that time to convert my portfolio on those exchanges to a safer home.
It was a good learning experience.
Wendy makes a great reference as to where Ethereum is going: Proof Of Stake.
Ethereum Gas Fees have already dropped dramatically.
I love this arena so much that I could converse on it all day.
However, this is your post.
Thanks again for posting.
I like it.
Paul from Canada.
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Hi there, Dada. Thank you for a well researched and written post. I did jump in with both feet, and I believe it was a good move. I know crypto is down now, but it is firmly established, as you pointed out. It will be back bigger and badder than ever. Have you found any affiliate programs you like in the crypto market?
Thank you for your positive comment. I appreciate it
I am still searching for an affiliate program to promote. Any recommendations?
I looked at a few, hard for a while. Then I got back to what I was doing. Some looked cool, maybe, but you know how that goes. I am in the process of compiling a list of possibles because this niche is definitely on my radar. I have a problem with one thing at a time and I think anyone interested in crypto knows what I mean. Let's stay in touch.
Thanks, I will definitely be in contact.
Hi, Dada.
Private Message me.
I have some very good experience with HYIP's and Crypto Affiliate programs.
I have also had good experience with AI Bots using the Martingale strategy.
This is a very good post.
Thank you.
Paul from Canada.
Crypto isn’t DOWN! It’s on SALE!!! 😂
Darlene
A pretty interesting observation, Feochadan!
I like the way you think Darlene.
Paul.