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If you’re wondering how to invest in crypto currency the right way, you’ve come to the right place.
I hear all the 20 and 30 year-olds are putting all their money into Bitcoin. Is this a good Strategy? How can you safely invest in bitcoin?
At the time of this recording, according to coindesk, Bitcoin has dropped peak to trough ($64,837 to $39,467). That’s a total decline of just over 39%. It went up a lot previously. You might have still done very well, depending on when you initially bought it.
Bitcoin is likely here to stay, but cryptocurrency is about to become regulated. Goverments around the world are starting to take a closer look. This is a big uncertainty.
Bitcoin is a volatile asset class. If you are already investing in it you already know that. So how do you invest in cryptocurrencies safely?
I want to be clear I am not recommending cryptocurrencies, and I’m not not recommending them. The following is for illustrative purposes only.
1.) Pare it with a fully diversified portfolio full of quality companies and asset classes. Because it is volatile and speculative in nature I would keep the position to 5% in total or less knowing that you could easily lose half or more. Having a properly diversified portfolio is like have an engine where the different pistons are moving up and down at different times.
2. ) Invest from a reputable source. I’ve heard a lot of unfortunate stories about crypto scams. If it seems to good to be true, it is. Ensure to use a publicly traded ETF or directly through a large and reputable institution that’s been around for a number of years and has a good reputation. Do your research.
Bitcoin and crypto is exciting. I get it. But it’s also speculative. Just make sure its within balance, in a larger portfolio. Asset allocation and diversification aren’t sexy and exciting, but you know what is? Making money. Even if you got there by being boring!
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About Anna Hilberry: Anna graduated with a Bachelor of Commerce Degree in 2007. Anna became a licensed Sales Associate in 2008. In 2012 Anna became a licensed Investment Advisor. Anna has extensive experience in successful investment management with a wide breadth of product knowledge. She is currently an Associate Investment Advisor with The Hilberry Group and National Bank Financial.
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NOTE: National Bank Financial – Wealth Management (NBFWM) is a division of National Bank Financial Inc. (NBF), as well as a trademark owned by National Bank of Canada (NBC) that is used under license by NBF. NBF is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF), and is a wholly-owned subsidiary of NBC, a public company listed on the Toronto Stock Exchange (TSX: NA). The information contained herein has been prepared by Anna Hilberry, Associate Investment Advisor at NBF. The opinions expressed do not necessarily reflect those of NBF.
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