Investing in cryptocurrencies is similar to stocks. But, they can be much more volatile. This is why it's usually a good idea to invest not more than 50% of ones investment wealth into cryptos.
When it comes to crypto-investing, this is a good rule to live by:
Only invest as much money as you can afford to risk.
Cryptocurrencies can swing wildly upwards in value. Fortunes were made in 2017 and early 2018; and now we wait patiently for the next parabolic move. November of 2017 is when the initial parabolic bull run began. It's possible the next big bull run will begin in November/December of 2020.
If prices drop and investors begin to worry, it's likely too much money was invested. Stick with the "maximum 50" rule. Or, better yet, invest just 10%-15% at first, and gradually increase holdings when you get more comfortable with cryptos and how they work.
If cryptos drop in price and are worth less than what was paid for them, you only lose money if they've been sold at a loss. Some people panic-sell for a loss; this is normally not a good idea. The good cryptos that I write and talk about will likely bounce back if they've dipped — and then some.
Cryptocurrency investing is fascinating and potentially very profitable, but perhaps daunting at first. My job is to make this space less confusing, less risky; give you complete control of your assets and not some other company or entity. And, at the same time, it's my goal for clients to preserve their wealth during the looming economic crises or make life-changing gains in a relatively short amount of time.
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