Are cryptocurrencies a good investment ?

Cryptocurrencies are good investments if you want to get direct exposure to the demand for digital currencies, but a safer option is to buy shares of those companies that deal with cryptocurrencies. Cryptocurrency mining stocks are also an option you can consider.

It’s possible to get filthy rich by investing in cryptocurrency in 2021. But you could also lose all of your money. How can both be true? Investing in crypto assets is risky but also potentially extremely profitable.

With cryptocurrency being young, and the market being historically volatile, there is no ‘yes or no’ answer about the wisdom of investing in cryptocurrency. It is with this in mind that we cover some pros and cons and friendly (but not professional) advice.

Is cryptocurrency safe and a good investment ?

Just like anything else in life, cryptocurrencies come with their own baggage of risk. Whether you trade cryptos, invest in them, or simply hold on to them for the future, you must assess and understand the risks beforehand. Some of the most talked-about cryptocurrency risks include their volatility and lack of regulation. Volatility got especially out of hand in 2017, when the price of most major cryptocurrencies, including Bitcoin, skyrocketed above 1,000 percent and then came crashing down.

How to invest in cryptocurrency