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You might want to think about dabbling a little bit into crypto, if you aren't already. I certainly wouldn't bet your entire retirement on this, but there's a good chance it'll continue to explode. I figured that we invested enough to where if it crashed, it wouldn't kill us but I'd regret it if we missed the boat.
Do you buy coins directly or are you doing an ETF?
You might want to think about dabbling a little bit into crypto, if you aren't already. I certainly wouldn't bet your entire retirement on this, but there's a good chance it'll continue to explode. I figured that we invested enough to where if it crashed, it wouldn't kill us but I'd regret it if we missed the boat.
Sounds a lot like FOMO. I’ll skip crypto currencies but I’ll invest in blockchain technology when possible. I wish you luck, though.
When I dabbled a little in crypto back in 2017-ish I had to setup accounts on each exchange. Coinbase had just started, and I think only BTC was available there at first then it expanded out from there.
Basically it was a P.I.A. to try and trade coins other than on Coinbase because of the need to do exchange from BTC to othercoins back to BTC then to cash.
When I dabbled a little in crypto back in 2017-ish I had to setup accounts on each exchange. Coinbase had just started, and I think only BTC was available there at first then it expanded out from there.
Basically it was a P.I.A. to try and trade coins other than on Coinbase because of the need to do exchange from BTC to othercoins back to BTC then to cash.
Haven't dabbled since then.
Robinhood was much more straight forward. That's why I chose them vs Coinbase. I would've chosen one of my other brokers, but they're not yet in the crypto market.
In any event, I look at this as play money. Its not enough to make or break my retirement goals but has huge upside potential.
Sounds a lot like FOMO. I’ll skip crypto currencies but I’ll invest in blockchain technology when possible. I wish you luck, though.
This is a big mistake.
Blockchain companies are primarily crowd sourced via ICOs abroad. They are not going public through NYSE or other global stock exchanges.
As an American they usually block us from ICOs but I'm still able to get in directly after which is still a steal.
And actually many projects I invested in which are doing well were started during the last Crypto bear market and were already "listed" on major exchanges but had little speculation behind them up until now.
Don't expect however these developer foundations to go "public" in traditional ways. There are requirements they simply cannot meet. Yet the innovation will still happen on the Blockchain. To take part in that and profit you must buy the crypto coin or token that is the store of value for a particular Blockchain project.
If a foundation ever incorporates or goes public it'll be 10 years later after most of the gains have already been made and guys like me already sucked the last meat off the bone. We took most of the risk and therefore will eat up 90% of the rewards.
Don't be that guy crying over the leftovers. Get in the game or get left behind. This goes for any type of investment. You're never going to make good money following safe accepted trends on Motley Fool.
Basically, if you have a pulse and can fog a mirror, your portfolio is up.
The most important thing to remember is an increase in the value of your portfolio does not mean you are a financial genius.
I wish I had got the memo. I've timed losing money perfectly in my personal investing account, with my stock purchases, I started back in August. I made a six figure profit off of $20k within 1 month on 2 stocks and lost it all being greedy. Of course I didn't take my lumps well and lost a little over half of my initial investment in the last 1 month, trying to "recover" from my lost gains, when I should have been patient and regrouped my investment strategy and out look. This has definitely been a painful lesson.
With my 401k, I have done the exact opposite of my personal investment account by being overly cautious. I put most of my 401k in a "safe" fund back in June, as I was worried about a second mini future crash that has yet to happen. That's cost me 30% in growth. As of now I would have done better paying of my auto loan over the last year.
The sayings of "Don't try to time the market", "everybody is a genius until the lose money", "buy on the rumor and sell on the news", and Buffet's quote of "the stock market is for the patient to take from the impatient" all have applied to me at some point the past year. I definitely have some regrouping and serious studying to do, about the stock market and investing overall. I definitely burnt myself by only doing some causal reading and research.
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