Hey guys,
Being relatively new to Crypto, I invested my first dollars about a month ago. However, now I'm getting some feelings of regret. The world's best advisor Warren Buffet, and many others warn to stay away from Crypto. However, I thought I knew better, so I bought some.
But do I know better? I may be better informed than many others, but that doesn't mean that it is a good investment. Can we really know if a coin will be successful in the long-term, or is it just a wild bet?
If I invested my money in a company such as Amazon, I can be confident that the price will go up in the long term because they provide a great service, however how useful are cryptocurrencies at the moment? The increase in price has been mostly from speculation.
So, I'm thinking of getting rid of my crypto coins, and investing "Warren Buffet Style" - in good companies for long-term. I may not get 1400% increases, but I'm also less likely to lose everything.
What do you think? I'd love to hear some opinions!
You should consider a balanced approach. Cryptocurrencies are quite risky with high volatility. So putting a large percentage of your overall portfolio into crypto is a hyper aggressive strategy. If your risk tolerance is high, this might be OK. However, it sounds like you're, understandably, uncomfortable with this approach. Instead, why not determine how much of your portfolio you're comfortable speculating with and only investing that portion in crypto? The rest could be invested in more traditional vehicles. Understanding your risk profile is pretty important when investing in the crypto world.
Yeah, that's the sensible thing to do. Therefore you're only betting that cryptos will go up in general, and not betting and hoping on a specific coin - which could be very risky. How much percentage of your investments do you have in cryptos?
Am also new to crypto investment. but am betting the farm that its the right decision i made. I see it as money changing hands.
It all depends on the way you use your money. If you're blinding pumping money into any coin with no idea why other than to hopefully make some profit, you're taking a gamble. However, if you take the time to research each project individually and then decide that it's worth your investment, then you're doing just that; investing.
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