5 Questions to Ask Yourself Before Investing in Cryptocurrency

Aug 16

Thinking about investing in Crypto?

Before you dive in, take a minute to answer the following questions for yourself.

“Have I taken care of the basics?”

Cryptocurrency is far from a “traditional” investment. Some view it as an alternative investment, and some consider it as strictly speculation. Whichever side of the table you sit on, it’s always essential to have the basics of your finances under control, but if you plan to invest in cryptocurrency, you must build your financial foundation first.

This would include maxing out retirement accounts, having a fully-funded emergency fund, having appropriate insurance coverage, and being on track for life goals.

“Can I afford to lose this money?”

The crypto markets are highly volatile. While bitcoin has had an upward trajectory over the past decade, there have been countless significant dips in price along the way. Double-digit price swings on any given day are expected, and if you’re not comfortable with risk,... ...