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111 Key Principles for Success

Principle 91 - Should you invest in Cryptocurrency?

Cryptocurrencies are all the rage in 2021.

Since their invention in 2009, by Satoshi Nakamoto, the average returns have been 200%. With the Federal government printing money, many smart people say to put 1 - 5% of your assets in Crypto.

Some people also call crypto web 3.0.

As I write this people will say how obvious it is to invest in Crypto or how stupid it was

Cash isn't king.

I'm not sure if I'm the right person to listen to because I've have most of my money in cash since 2009 after the Great Recession.

But it appears we are at a juncture were many investors will soon be buying Bitcoin as of October 2021.

The way I'm investing is to dollar cost average and invest only money I afford to lose because it's going to $0 or to $1,000,000.

This isn't investing advice as you can only get that from Registered Financial Advisor.

Do a little research and you'll quickly find the Bitcoin rabbit hole.

For safety I've only invested in the top coins with very little on risky plays.
  • Bitcoin
  • Ethereum
  • Solana
  • Cardano

    I plan to buy and hold to avoid the high taxes for short term capital gains.

    There are plenty of risks with crypto but also plenty of rewards.

  • US Government bans it
  • It goes to $0.00
  • A new technology overtakes the coins you buy
  • It gets heavily regulated in a negative way
  • Quantum computing breaks it
  • You lose your coins from hacking or other method

    What should you do?

    Do some research and decide what you should do?

    Some people to watch are
  • Michael Saylor
  • Robert Breedlove
  • InvestAnswers
  • What is Bitcoin?
  • What is Ethereum?
  • What are the risks of cryptocurrencies?

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