Millennials and seniors, students, and blue-color guys are interested in bitcoin and other cryptocurrency-related investments. Should you or shouldn’t you buy the latest new cryptocurrency or token? There is some advice on things you should consider when deciding if a crypto investment is right for you.
Bitcoins and altcoins have been trending and receiving the attention of celebrities, often through endorsements. You may see them on social media, radio, or TV promoting bitcoin and a variety of other products and services. Now you can see your neighbors, colleagues, friends who invest in crypto and they make some money.
But trendy investments are especially ripe for fraudsters so be aware there is a real risk of fraud. It’s easy to sell an investor on an “everyone is buying it” sales pitch when there’s a lot of buzz about a certain investment product.
Don’t fall for high-pressure sales tactics, the promise of guaranteed returns or too good to be true claims.
You should check out the red flags of investment fraud on review sites as well as check to see if the company you’re dealing with is registered. Fraudsters don't invest in reputation management, friendly staff, and registration.
Take time to make the right crypto investment decision for you. Ask questions and demand clear answers. If you lose money there is a real chance the regulators won’t be able to help you recover your investment, even in cases of fraud.
If you do choose to purchase digital currencies, recognize that it is a new asset. A good rule of thumb when investing in a new product is to only invest money that you are willing to lose. One way to spread risk is to diversify your investments. In other words, don’t put all of your eggs in one basket.
Don’t flip a coin when you’re making investment decisions. Proceed with caution, do your research, evaluate your financial goals. Before you invest, go to forums, social media groups to learn how to invest in cryptocurrency wisely and avoid fraud.
When you make your investment decision, choose the right partner. EvBlock is a crypto exchange from Switzerland. It is a legal company. EvBlock is powered by EVANERA, a fintech company (Reg N. CHE-265.995.382). You can find customers reviews on TrustPilot and Cryptwerk sites. EvBlock invests in its crypto exchange platform and user-friendly support. If you want to see it for yourself, visit https://evblock.com/