Question

Hi Jon,

I want to invest in Bitcoin or some other cryptocurrency, but am unsure how to do this. I wonder if you have any advice?

Babs

Answer

Hi Babs,

Investing your money can be a tricky question, things like where to invest the money, and with whom, all need to be answered.

The first question to ask oneself is can you afford to make the investment, and what is your risk tolerance?

How much of a risk are you willing to take?

Many people invest in cryptocurrencies, only to lose their money. So you need to know the risks, and Bitcoin and other cryptocurrencies, while they can provide a high rate of return, are also a very risky investment.

There are many other areas to invest money, that have less risk. They also may have a lower rate of return. That is the fine line you walk when choosing where to invest your hard earned cash.

Regards,

Jon

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