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But the first step in successful investing is to remove emotion from the equation.
Whats the Potential Upside to Investing In Cryptocurrency?
When cryptocurrencies like bitcoin are running, they can provide astounding returns.
What Are the Risks?
According to a study byCoin Kickoff, more than 2,500 cryptos died from 2013 through 2022.
This clearly shows that you risk losing all your money if you pick the wrong crypto.
In those years, bitcoin posted returns of -50.19%, -72.13% and -62.02%, respectively.
Do Any Reputable Financial Experts Support Investing In Crypto?
Suze Orman is probably the most well-known financial expert who supports investing in crypto.
As Orman toldCNBC, Everybody should absolutely have exposure to bitcoin.
But its worth noting that Orman doesnt believe that crypto will change the world and become a new currency.
Rather, she recommends investing in it solely for demographic reasons.
So put as much money in there as youre OK losing.
But Orman is not alone in being bullish.
Are Any Opposed?
The list of financial experts who say you should stay away from cryptocurrency is long and distinguished.
But as Suze Orman said, you should only invest money that you are willing to completely lose.
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