Want to Jump on the Cryptocurrency Bandwagon? Answer Three Questions First

Cryptocurrency mania reminds me of the dot.com era in Silicon Valley when the stock market was red hot and (some) tech professionals were leaving their jobs and taking a 2nd mortgage on their homes to self-fund their very own start-ups. The the market went from boom to bust. Our guidance is to answer three key questions before taking the plunge into cryptocurrencies. First, what is your risk tolerance (e.g. can you afford to loose most or all of your money)? Second, what is your time horizon (e.g. when will you need these funds - a month, year or decade)? And third, how much time do you have to 'manage' these funds (e.g. is self or professionally managed) the best strategy for you. Yes, your answers will vary depending in your circumstances. Bottom line: The optimal strategy for you should be driven by your answers to these basic questions rather than you being swept up in investor hype. See you soon. Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/).