Cryptocurrency investing is seen as one of the most lucrative strategies in 2021. As institutional investors and famous personalities have expressed their love for cryptos, demand for these digital currencies is skyrocketing, and so are their prices. The crypto bull run in the past year has tempted many new investors. However, cryptocurrencies are highly volatile assets with a fair share of risks.
Here are the six things you should understand as a new investor before investing your hard-earned money into these digital assets.
1. Don’t take large bets.
I agree that the spectacular returns generated by some cryptos are too enticing. You may want to invest all your money to earn maximum profit in this winning phase. But hold on because crypto markets are no less than a roller-coaster ride. No one knows if — or when — the market will crash. Unlike stock investing, there is no…