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Do not skip steps investing in crypto

All Cryptocurrencies

by COINS NEWS 103 Views

Investing in crypto might feel different than any other mainstream financial instrument like stocks, real estate or simillar. But the thing is, that it's still investing. You put money in an asset that you expect will grow and give you profit.

Thinking that you don't need any general financial knowledge on how to handle your money and where to put it just because you invest in crypto is just not right. There are lots of simillarities between stocks and crypto market, lots of terms are the same and psychology is the key, just like everywhere.

Going straight to crypto could badly alter your views and expectations for other future investments and you would have to basically relearn everything that you know before. Crypto is still under 15 years old and a very new thing.

It's never too late to learn, starting from how to deal with your personal finances would be a great start. Books would be a best option, tons of info on youtube, but have to pretty careful with it too. r/personalfinance would help a lot too. Also, even if those communities often shit on crypto, I would recommend checking them and seeing an entire different approach on investing than we take : r/Bogleheads , r/Fire .

submitted by /u/Barchelonio
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