Bitcoin is not a lottery ticket.
But there are 2 types of investors who treat it like so.
Type 1: The Over-Invested Investor
The hype is at an all time high. The fomo is even higher.
This reels in investors who want to drop their life savings into crypto.
They treat their cryptocurrency holdings like it’s a winning lottery ticket.
But the volatility of crypto makes tech stocks look like snails. Rises and drops of 50% or more within a day is not uncommon.
As the adage goes in crypto trading communities,
Do not invest more than you can afford to lose.
Type 2: The Un-invested Investor
This second type of investor also treats crypto like it’s the lottery – in the sense that it’s not real.
You’re more likely to be struck by lightning twice than you are to win the lottery. This type of investor puts crypto in the same category, statistically speaking, as the lottery.
But cryptocurrency has made sizable returns for a significant amount of people.
This investor scoffs at the “bubbles” and “scams” of crypto without acknowledging that it’s a real technology.
So they forgo crypto entirely on philosophy.
If you’ve been sitting at the sidelines of crypto, there’s a 3rd way…
The third type of cryptocurrency investor
You can be the type of investor who doesn’t treat crypto like a lottery. You can be measured and take calculated risks with little downside.
Buy a little. Don’t buy a lot.
You don’t have to buy 1 Bitcoin (a lot of $ now) to get started.
Most cryptocurrencies are divisible.
You can buy fractions of a Bitcoin, say 0.001 BTC, which as of today’s writing is $14 USD.
You don’t have to buy a lot to learn a lot.
If this were the 1990s, buying a little bit of crypto is like opening an email account or buying a domain name.
Buying just a little helps you experience a new foundational technology, which in this case is blockchain (it’s what Bitcoin is based on).
For the crypto curious who’ve been sitting at the sidelines to buy…you have your answer.
Buy some crypto. Don’t buy a lot. And don’t treat it like the lotto.
I use Coinbase to buy cryptocurrency. Use my referral link and get $10 worth of Bitcoin free:
P.S. If you’re “crypto curious” and have questions on how to get started buying your first Bitcoin (BTC), Ethereum (ETH) or Litecoin (LTC), leave a comment and I’ll try to help you out as fast as I can.