Cryptocurrency Explained
Cryptocurrency has been making a buzz in the last several years, and for so many good reasons. If you’re sitting and looking at your portfolio, it’s pretty safe to put about 1 to 2% of your net worth into crypto if you’re starting and you want to explore.
If you have a sound strategy, you’ve done your research, and you bought it yourself, you’re going to sit in a pretty exciting place for the years to come as cryptocurrency is an exciting space that is here to stay.
Key points in this episode:
✔️ The best way to learn about crypto is to buy some. You could read as many books as you want, listen to podcasts till your ears fall off. But if you want to know about something, you have to put a little of your own money into it. I guarantee that is the fastest way to learn about something because if your money is in it, you’re going to care about it.
✔️ Have a portfolio approach. Like you’d never invest in just one stock or one startup company, you also want to diversify and put a little bit in at a time with cryptocurrency. So, for example, you could have a strategy where you put a little bit more money into the market every time crypto dips a little bit. Think about your tolerance for investing in crypto and see if you can divide it into ten chunks of buying. That’s always a better strategy than to go all-in on crypto at one time.
✔️ Do your research on the downsides of crypto. There are concerns and eco-sustainability issues around crypto and mining. I would encourage you to research what’s happening in the crypto space that is driving some of these discussions and developments like renewable energy projects that are being launched attached to crypto.
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About Randi Zuckerberg
I like to call myself “a professional mom to entrepreneurs.” I believe in the importance of nurturing startups and entrepreneurs. As a woman in business, I believe that we need more female and diverse founders to shift the world.
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Disclaimer: Randi Zuckerberg is not a financial advisor. Please invest at your own risk.
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