Hello everyone
Today, I’m going to talk a little about crytocurrency and stocks and compare them both to the effect they have on my portfolio. First, I will talk a little about my first encounter with them both, and then I will dive into the main topic.
Please note. You will not get stock picks or any other form of recommendations to invest in stocks or crytocurrency from me today. I may toss out a few ideas, but please don’t confuse this as a recommendation to invest. Sorry for the inconvenience.
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Cryptocurrency versus stocks
So what’s my preference. Let’s talk about stock investing and my introduction to this form of investing. Started out as a way out to do something better other than working on the job for money. I joined an investment organization. Started my own investment club as a Limited Liability Corporation(LLC) and ran that company for a few years until termination. Now, I just invest individually in stocks and mutual funds. I started out differently in cryptocurrency. My involvement in cryptocurrency started by accident. I opted to receive bitcoin in payment for an online survey completion even though bitcoin wasn’t even as popular as it is today. Today, Bitcoin is a high roller while there are a multitude of cryptocurrencies in the mainstream today.
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Pro and Cons: In comparison to cryptocurrency and stock investing, bear in mind that both are volatile in nature. Stocks are traded on weekdays at normal business hours, while cryptocurrency runs for 24/7 and can be traded at any time. Dividends are applied to your investment as per the policy for your specific stock, while cryptocurrency has none. Money is made by the rise and fall of your investments in both plus dividends in stocks. My suggestion. Reinvest your dividends and apply “Dollar cost Averaging” in both, that is, putting applied amounts regularly, in spite of the rise and fall in both.
The best time or period to invest is not a specialty in my arsenal. As I mentioned earlier, invest regularly and with “Dollar Cost Averaging” will do the trick. Spoiler alert. I do great with a POTUS change or elections. A crisis or disaster as in war time or disease scare. In other words, when investors run scared and sell their shares, I’m buying more shares than ever. Stocks may be trading at discounts. I made lots of money after our last depression and after wartime and disease scare in the past few years. But do not wait for disasters to happen before buying stock/cryptocurrency. Start buying and invest regularly as soon as possible and prepare for the rise and fall of the prices ahead.
So, which form of investing I prefer. The answer is none in general. It’s the same as choosing which stocks or crytocurrency to invest in. No preference indeed. When it comes to a company stock, I do not invest in companies who can do harm to others or the environment. I wish to distance myself from companies whose morals are visibly questionable. Choose where you place your hard earned money and to fund tyrant companies. Invest wisely and do your due diligence. Fund companies you are aware of and their line of business before investing in them. Build your portfolios in cash, cryptocurrency, and stocks. Add bonds and mutual funds to your stash. Futures and bonds are available, but I have none. Maybe later.
I hope you find this post helpful.
To your success.
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