Recently, I was talking in a Clubhouse group that I co-moderate about regrets with cryptocurrency, which is decentralized digital currency (including Bitcoin, Ethereum, Cardano, and thousands more). My regret, if I had one, would be that I didn’t find out about cryptocurrency earlier. You see, Bitcoin launched in 2009, and people began trickling in. But when some people were getting into crypto even into 2013 and 2014, I was investing in, and spending on, other things.
I did get to the market eventually, and even had some help from friends. And I think things work out how they are meant to, in general, so regrets don’t really matter.
“Don’t let lack of knowledge be the reason you miss out on opportunities.”
Right now—even as Eitcoin and Ethereum have hit new all-time highs in 2021, institutional investors have bought serious amounts of bitcoin, and the markets receive media attention—I think we still have opportunity in this crypto space. As the value of the U.S. dollar has fallen against certain other currencies, and inflation abounds, cryptocurrency can show great promise when it comes to value, utility, and more.
For instance, while Janet Yellen, Ph.D., Treasury Secretary and former chair of the Federal Reserve, noted that cryptocurrency can potentially be used to fund illicit activities (which, really, so can cash), she provided additional comments in a January 2021 statement to the U.S. Senate Committee on Finance following her confirmation hearing. “I think it important we consider the benefits of cryptocurrencies and other digital assets, and the potential they have to improve the efficiency of the financial system,” Yellen noted in her written response to the committee.
So as we continue to watch this market, and its potential, there’s still time to learn and get into it if you feel so inclined. And to potentially build wealth. If you’re already invested in stocks, for instance, cryptocurrency can be a way to diversity an overall portfolio. But don’t let lack of knowledge—of this, or any financial sector—be the reason you miss out on info.
For my part, I’ve been co-moderating and speaking in related rooms on Clubhouse, alongside knowledgeable people, and also would love to have you join future events. (Examples below! If you’re on Clubhouse, you can follow me @lesliequander.) I also continue to read and learn.
The bottom line: Consider researching cryptocurrency for yourself. I say often, like many others in this space, that we should do our own research. This is a key part of learning in crypto and beyond. And it’s completely okay if you decide this market is not for you. But maybe take a bit of time to figure out if it might be.
Plus, there are solid resources to learn about the overall market, if you decide to, including prices, history, and some key terms. One additional place to start is coinmarketcap.com, which includes current overviews of the market, specifics on individual cryptocurrency history and performance, and even a learning section. And if you decide to buy, please know that you can start with only a few dollars, as it’s possible to buy “pieces” of Bitcoin and other cryptocurrency.
Reminder: I never give financial advice. 🖤 Your money is yours, and this market is volatile and has real upsides and downsides. So consider your personal situation, and whether you’d buy in with money that you can afford to lose.
So what do you think? Have you heard about cryptocurrency? Are you interested in this topic? Feel free to follow me and learn about the benefits and risks, potential utility, and more.