Cryptocurrency has been a great investment historically, but it is inherently riskier than other asset classes. Investing in crypto can increase the diversification of your portfolio, as it has shown almost no price correlation with the U. S. However, it is important to have a strategy and stick to it, as irrational decisions based on fear can lead to losses.
There are many options for investing in cryptocurrencies, such as Coinbase and Gemini, which are great for beginners. Tether can be used to hold funds moving out of other cryptocurrencies without converting them into cash. Ledger Nano S is one of the world's best hardware wallets that can store a large number of cryptocurrencies securely. Robinhood is a free trading app that allows users to invest in Wall Street-listed stocks, ETFs, gold, cryptocurrencies, options and other vehicles directly with no middlemen and no fees.
When you invest through Voyager, you will pay nothing in commissions. Argent is a mobile cryptocurrency wallet for iOS and Android that allows its users to invest in different DeFi protocols. Clear regulation would remove a major hurdle for cryptocurrency, as it would make it more accessible within traditional investment products. It is recommended to keep cryptocurrencies to a smaller overall portfolio allocation, as 1 goes a long way.
Insurance options are available for some cryptocurrency-related investments. If you believe in blockchain technology, cryptocurrency is a great long-term investment.