![]() ![]() Some people have had success investing with that strategy, but others have lost everything. That means you should never borrow money to buy cryptocurrency. Second, you should only invest money you won't need for the next five years. Even worse, countless cryptos have amassed die-hard followings on social media, meaning investors are constantly bombarded with information, but it's often difficult to separate the worthwhile insights from the misleading propaganda.įor that reason, there are few rules you should commit to following before buying any cryptocurrency. There are now more than 17,700 different cryptocurrencies, and governments around the world are still grappling with regulatory concerns. Unfortunately, that novelty also makes it dangerous. It's like the Wild West of the financial world. Whereas assets like real estate and equities have been around for centuries, the crypto market is brand new and bursting with potential. Both have generated astonishing gains, turning pocket change into fortunes almost overnight.īut the industry itself is intriguing. ![]() Meme tokens like Dogecoin and Shiba Inu have undoubtedly played a role in that phenomenon. Cryptocurrency has become increasingly trendy over the past decade, especially with younger investors.
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