I recently had someone trying to sell a friend on a method to invest in cryptocurrencies, promising he did 179% in the last 22 months. That may sound good and worth his 25% fee of profits. Unfortunately, over that time period the cryptocurrency market went up 2,233% in just 22 months! Not only is that illegal if he isn’t licensed but just plain wrong to be charging that much while returning such below market returns to gullible investors.
As you can see in the email chain below, owning the market “is working just fine” by his own admission. He even says I don’t need him. So don’t get ripped off. Instead, just buy and hold your own cryptocurrencies. Just follow the steps I lay out in the video below and if you have questions just ask! Just remember it is best to be out of debt and to be in a solid financial position before you start putting money in something risky like cryptocurrencies.
Cyprtocurrencies could easily drop 50% tomorrow or go up 50% tomorrow. No one knows. The sooner that you can accept that no one knows for sure, the sooner you will be able to make sound investment decisions. The best recipe for success is to be well diversified across many assets such as stocks, bonds, gold, and cryptocurrencies etc. When one goes down the others go up. This is the best way to have a nice smooth ride up. Don’t go all in or swing for the fences!
Google Sheet: https://docs.google.com/spreadsheets/d/1ztKBzAbhKRHKNnvn1NnBMswk6uKSFM15LIGu0WCeEFs/edit?usp=sharing
Coincube is a great resource for creating a index fund of cryptocurrencies. I should have a video of how to use it very soon.