• DIY/Home
    • Family
    • Kids/Toys
    • Tech
    • Pets
      • Dogs
  • Travel
    • Money
  • Health
    • Beauty
    • Fitness
  • Recipes
  • Giveaways
    • Shop with Me Mama Winners!
    • Product Reviews

Shop With Me Mama

Lifestyle, Product Reviews, And Parenting

  • Home
  • Contact Me
    • About Kim Delatorre
  • Privacy Policy
    • Advertising & Disclosure…
You're Home! » How To Safely Invest In Cryptocurrencies In 2021

How To Safely Invest In Cryptocurrencies In 2021

August 18, 2021

Please Share!

Bitcoin’s emergence in 2009 was greeted with doubt despite impressing the tech community with its blockchain technology. Since then, cryptocurrency has evolved, with several others entering the market. A recent study suggests that many were not initially interested in cryptocurrency investment, although they are becoming more aware presently. The trend is attributed to BTC price increase and Telsa’s recent cryptocurrencies involvement. If you are interested in joining the space, here is how to invest in cryptocurrencies safely.  

Prepare for volatility

How To Safely Invest In Cryptocurrencies In 2021

Source

The cryptocurrency market is highly volatile, which is why you should prepare for some highs and lows. Dramatic price swings characterize the market and for your mental wellbeing and investment portfolio, prepare for some tough times. Cryptocurrency is still evolving, and investing in something during such stages comes with risks and challenges.

For example, Bitcoin’s price volatility between October and January 2018 was almost 8%, a figure twice its volatility within the last 30 days ending January 15, 2020. This calls for adequate mental preparedness if you intend to join the crypto industry. Get your research right and participate conservatively.

Study and research exchanges

Learn about cryptocurrency market exchanges before you invest the first dollar. According to Bitcoin.com, there are about 500 platforms to purchase and sell your digital currencies. However, every platform comes with unique offers and notable highlights, which is why it is vital to do your research, check for reviews and learn more from experienced crypto investors for a more successful crypto trading journey.

Likewise, you may want to find the right cryptocurrency tax calculator to support your data aggregation and link your cost bases to your sales. This way, you can quickly populate your tax data by calculating your gains and losses. Avoid entering the market without proper research if you want to avoid massive debt and losses. Be practical about your choices.

Stay away from the PR and hype

Like every smart entrepreneur, you can’t invest based on hype and PR, as doing so is highly risky and can cost you a lot. To make money in cryptocurrency, you need the right people to guide you to take calculated risks in addition to doing your research. Depending on the internet, especially social media, or what people who aren’t necessarily experts say can cost you your financial resources. Price crashes are common and can be so sudden and lead to terrible losses. Making money in crypto isn’t one for the light-hearted. With patience and the right support guide, your investment can be worthwhile.

Appreciate the risks and how much you are willing to lose

How To Safely Invest In Cryptocurrencies In 2021

Source

It is normal to be nervous when taking financial risks, although others may seize opportunities and capitalize on them. Choosing where to belong between these classes of individuals can help you determine the right portfolio for your particular investment. Don’t invest in cryptocurrencies if you are not comfortable with taking risks. Even seasoned investors only risk how much they are ready to lose if things don’t work out as expected.

Posted by Contributor Leave a Comment
Filed Under: Apps/Tech, Money/Expenses Tagged: Bitcoin, Cryptocurrencies, finances, investing

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recipe Rating




This site uses Akismet to reduce spam. Learn how your comment data is processed.

Search This Site!

About Kim

My name is Kim and I have three busy kids. I am married to my middle school sweetheart and we live in Idaho. You can easily contact me on my Contact Me Page!

Email: [email protected]

Let’s Connect

Subscribe To SWMM

* indicates required


My name is Kim and I have three busy kids. I am married to my middle school sweetheart and we live in Idaho. You can easily contact me on my Contact Me Page! Email: [email protected]

Let’s Connect

Search This Site!

Shop with Me Mama is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. All links on this site may be affiliate links and should be considered as such.

COPYRIGHT © 2023 · SHOP WITH ME MAMA · ALL RIGHTS RESERVED

Shop with Me Mama is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. All links on this site may be affiliate links and should be considered as such.

ALL RIGHTS RESERVED

Recent Posts

  • 9 Top Best Baddie Easter Outfits for Women 2023!
  • Best Travel Baby Monitor with No Wifi (Giveaway!)
  • Why League of Legends is One of the Best Games for Moms
  • Hilarious AI Image Fails
  • How To Plan The Ultimate Family Road Trip Across The Southern States

© Copyright 2017 Shop With Me Mama · All Rights Reserved ·Handcrafted with by Heart and Soul Studio..