A little fewer than one in four people invest in cryptocurrency, according to a new study from GOBankingRates that surveyed more than 1,000 American adults. Among the more than three-quarters who don’t, the most common concerns are that they don’t understand it, it’s too volatile, it’s not regulated enough, they don’t trust crypto security, or they don’t think it has a long-term future.
All are legitimate concerns, but many of those concerns can be alleviated if you take the time to learn the fundamentals of crypto investing. GOBankingRates asked the experts for advice for novices who are ready to dip their toes into the crypto waters.
Here’s what they said.
Learn as Much as You Can — and Never Stop Learning
The biggest percentage of the study’s respondents who don’t invest in crypto avoid it because they don’t understand it. That’s fine, because step No. 1 is to learn everything you can about all things crypto before you put a single dollar down.
The financial services and tech company Brex maintains a good list of educational resources organized by skill level — beginner, intermediate and advanced. If you’re a novice, pick one from the beginner list and dig in, but don’t think that your work stops after you’ve learned enough to put your money in play. Ongoing education will fuel your success for your entire investing life.
“Continuous knowledge about the industry is your biggest leverage to succeed in crypto,” said Rexor Allen, founder of NFT Drops. “When investing, regardless of what coin, you really have to exert effort in observing behavioral patterns and trends, which can be an advantage when making decisions.”
Continue reading: https://www.nasdaq.com/articles/all-you-need-to-know-before-investing-in-crypto
All are legitimate concerns, but many of those concerns can be alleviated if you take the time to learn the fundamentals of crypto investing. GOBankingRates asked the experts for advice for novices who are ready to dip their toes into the crypto waters.
Here’s what they said.
Learn as Much as You Can — and Never Stop Learning
The biggest percentage of the study’s respondents who don’t invest in crypto avoid it because they don’t understand it. That’s fine, because step No. 1 is to learn everything you can about all things crypto before you put a single dollar down.
The financial services and tech company Brex maintains a good list of educational resources organized by skill level — beginner, intermediate and advanced. If you’re a novice, pick one from the beginner list and dig in, but don’t think that your work stops after you’ve learned enough to put your money in play. Ongoing education will fuel your success for your entire investing life.
“Continuous knowledge about the industry is your biggest leverage to succeed in crypto,” said Rexor Allen, founder of NFT Drops. “When investing, regardless of what coin, you really have to exert effort in observing behavioral patterns and trends, which can be an advantage when making decisions.”
Continue reading: https://www.nasdaq.com/articles/all-you-need-to-know-before-investing-in-crypto
