The purpose of the Crypto in Your Life newsletter is to demonstrate how crypto can be used in your life, just like regular investments. We want to show you how to think about traditional personal finance strategies in a digital environment: diversifying out of a concentrated $SHIB position to provide lifelong wealth, risks of being concentrated, being aware of taxes, how advisors can help, etc. This newsletter will curate insights to help you make sense of crypto.
From Certified Digital
8 Things Investors Should Do Before Investing in Cryptocurrency
By Treyton Devore
Maybe you've heard about Bitcoin or Ethereum and you feel like you're missing out on something.
And the truth is, you might be.
A lot of people have made a lot of money within cryptocurrency.
However, the rewards don't come without a heavy amount of risk. Cryptocurrency is an extremely volatile asset class, meaning the prices could drop or go up by 15-30+% on any given day.
So, how do you invest in crypto without taking on so much personal risk?
By carefully and strategically planning out your regular personal finances, and these are 8 things that I believe investors should do before considering investing in crypto.
1) Educate, educate, educate
When it comes to investing in cryptocurrency there are a lot of complexities, even more so than traditional investments, like stocks or ETFs….
Monthly Resources
Crypto Risk Management: How to Get Your Wealth Off an Exchange
Knowing how to move your cryptocurrencies is fundamental to risk management.
Keeping your cryptocurrencies in exchanges comes with risks, and there are dangers in doing so for a long period of time. Crashes, hacks and exploits have resulted in losses of hundreds of millions of dollars in the short history of cryptocurrency.
If your intention is to buy and sell digital assets quickly, it’s logical and convenient to leave them in an exchange. It is much safer, however, to store your digital assets in what’s known as cold storage, and it’s important to also know how to cash out into fiat, like the U.S. dollar, from whatever exchange or exchanges you’ve invested in.
Risks of crypto exchanges
While many people begin their crypto investment journey by opening an account on an exchange like Coinbase or Binance, they are not without risks. Here are some common ones…
Crypto for Planners Podcast
Regulatory Update with Gabriella Kusz
Gabriella Kusz sits down with Justin Pullaro to discuss regulation. Tune in to see what the rest of 2022 will look like for regulators.
Click here to listen to Regulatory Update with Gabriella Kusz