It seems everyone these days is talking about buying or selling crypto. While investing in crypto is certainly risky due to price volatility, you can certainly make a safer bet by having a greater understanding of the market.
What many investors view as a downturn and a good time to divest may just be the perfect opportunity to buy in, depending on your risk tolerance.
However, in theory, any time is a good time to diversify by buying into crypto. Another popular approach is by making regular, recurring investments. While you may end up paying more on some transactions, you can hedge that you’ll also buy in at some pricing lows which averages out your all-in price.
For more conservative or time-strapped investors, a Crypto ETF may make sense. Very new to the industry, Crypto ETFs such as ProShares Bitcoin Strategy ETF allow investors to gain exposure to crypto with having to manage wallets or exchanges. Plus, instead of betting on one specific coin, these ETFs are more likely to move up or down with the market as a whole.
You could also choose to use apps like Gemini to earn interest on your Crypto. Think of it like a high-yield savings account with more risk. (We previously wrote on earning interest via crypto. Check out the article here.)
Regardless of how you choose to invest, the golden rule of investing is still true. You should buy and hold to see the greatest returns. Try to ‘buy and forget’ so you don’t get caught up in any panic buying or selling that could land you in a worse position.
*Please note that none of this is intended as financial advice. Consult with a financial advisor before considering making any investments.