Happy New Year! I hope you had a terrific year in crypto in 2021 and that 2022 will see big gains for you and your crypto portfolio. In this podcast, I discuss some of the basics of crypto investing and why this year may be the last year to establish a diversified portfolio without being priced out of the market.
Beware of the market highs and lows and be ready to take out cash as needed. Robert Kiyosaki is predicting the biggest crash in world history as are others in the financial world. Be safe and smart and ready to buy the dips in all markets. Plus a great place to put some gains away besides stock, bonds, and precious metals.
Experts in the world of finance are understandably hesitant about cryptocurrencies. Recommending them, or being a proponent of crypto could be a liability for them. So many financial experts have built their careers on recommending stocks, bonds, and precious metals. Recommending crypto is for many of them out of the question. Some have changed their view, but others are still skeptical. There are worthless cryptos in the market, and novice investors and crypto speculators are or will lose money so we do need voices of reason. Education is your best protection. Understand where FUD is coming from, but make your own investment decisions based on the knowledge you acquire.
Be careful of leaving too much crypto on exchanges, no matter how well known they are, you can still get hacked and the exchange can get hacked. Store your crypto safely in a hardware wallet.
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The fun times in crypto are when you watch your investments rise, but don't forget to take some profit when they do go up. The up trend only lasts but so long and then it goes back down again, so don't get caught wishing you had sold some. It may go up more after you sell, so don't cash out, and it may go down much lower. We saw what happened with the crash 3 Trillion in gains lost, so bank some in case it happens again. If your not selling just keep on holding, stomach the downturns, and with patience and time be rewarded. Remember if you are looking to get rich quick this probably isn't for you. Just my opinion, not financial advice. Keep reading, keep watching. keep listening and learning.
Seems like it is a regulation season for cryptocurrencies in the U.S., but we do need clarity and protections from crypto scams. Meanwhile, things continue to move forward as always for cryptos and crypto projects. Bitcoin and Ethereum are on the rise and many altcoins are following.