Should you invest in cryptocurrency?
At H Cap Consulting 360, we’re all about helping our customers and friends achieve financial freedom! As you will hopefully no doubt come to see, there are many avenues that lead to financial freedom. However, one of our biggest side hustle ideas is to start investing immediately. Literally, it’s time to start investing now (if you haven’t already done so)! Yes, we want a big strong cash position, but we’re also going to talk about the importance of investing and earning a return on your investment in the coming days and weeks. After all, investing is one of the most proven ways to make additional income.
Furthermore, know that we will never propose putting all of your investment eggs in one basket as you look to increase your income and move towards financial freedom. As you will see in the coming months, we want you to consider investing in stocks, precious metals, real estate, etc. There are literally multitudes of avenues to make additional income on the road to financial freedom! However, have you considered putting some capital into crypto as well?
Let us start with this disclaimer; never invest more in cryptocurrency (or any other investment for that matter) more than you can afford to lose. Crypto is obviously still somewhat new to the marketplace and we don’t know how things will all play out over the long term. Will it continue to grow and become more mainstream? Only time will tell. With the state of Texas recently becoming a crypto safe haven, it does seem that crypto is becoming more and more mainstream. However, there are no guarantees that this trend will continue.
Additionally, we wouldn’t advise to invest a significant amount in crypto because it is very risky. Fortunes can be lost in an instant. However, we have invested in crypto (albeit, not a large amount).
If you invest in cryptocurrency, what crypto should you invest in?
While it does appear that Bitcoin and Ethereum are set up to continue to be the leaders in the crypto world, what does that mean for the novice investor? Let us also include this disclaimer: We do own both Bitcoin and Ethereum. However, while we’ve done pretty well investing in both, we were late to the game. Had we listened to people in the know, we would have invested in Bitcoin when it was going for cents on the dollar. Unfortunately, we did not.
Needless to say, had we invested in Bitcoin and Ethereum in those early stages, we would have achieved financial freedom long ago. Furthermore, we certainly don’t want to discourage you from investing in Bitcoin or Ethereum either. On the contrary, weigh each investment decision carefully and keep in mind various factors including your risk appetite.
Ultimately, how do we determine the next Bitcoin? With thousands of crytpos to choose from, the guesswork can be a daunting task. We’re all looking for the next Dogecoin right? The truth is, we don’t have the slightest clue what the next big market buster will be. Additionally, note that this writing isn’t meant to be taken as literal investment advice. Again, we highly encourage you to do your homework to make sure you understand the risk of investing in anything (be it crypto or gold).
That being said, one of the newer cryptos that we have invested in is Safemoon.
Safemoon launched in the Spring of 2021. It’s not been around long and it’s currently trading somewhere around .000004. Safemoon is community driven, it boasts an automatic LP, and it gives RFI static rewards to its holders. It’s designed to encourage buying and holding. However, Safemoon does have its critics. Some analysts say it’s vulnerable and some say it could be a Ponzi scheme. Obviously, only time will tell and we certainly have no information one way or the other.
While we at H Cap Consulting 360 have invested a small amount in Safemoon, we obviously want it to do well. However, we certainly don’t know how high it will go or if it will go up at all. Our aim here isn’t to try and to convince you to buy Safemoon. Rather, we wanted to bring this new crypto to your attention and let you decide for yourself. It could be on a great path to move high, but it also may never amount to anything.
In closing, if you do have some extra cash to spare, and you want to invest in cryptocurrency, it might behoove you to learn more about Safemoon. Most importantly, if you do decide to go forward and invest in Safemoon, we wouldn’t go crazy and invest a significant amount. Finally, again please make sure you understand the risk before you invest, and never, ever invest more than you can stand to lose. If you have questions, contact a financial adviser. Please understand that we at H Cap Consulting 360 are in no way providing official guidance or investment advice; instead, we’re simply giving you information for you to look at and decide on your own.
The road to financial freedom starts now!