We want to help you make more informed decisions. Some links to products on this page will take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.
If there’s one thing you should know about investing in cryptocurrency, it’s that you’re in for a roller coaster ride. Values fluctuate by the minute — sometimes drastically — driven by speculation, hype, and even the whims of Elon Musk.
But what if you’re one of those “boring” investors whose main interest is building slow and steady wealth for a retirement that’s years away? Because it’s built on a promising technology called blockchain, crypto’s short-term risks might be worth its long-term potential rewards, according to some financial experts — as long as it isn’t holding you back from meeting other basic financial responsibilities.
Still, it would be good to clarify your goals and expectations before you buy any crypto.
Let’s start with some cryptocurrency basics:
• There are thousands of different cryptocurrencies. Bitcoin, the first and most established cryptocurrency, has shown itself to be a better fit for holding and increasing in value than others, which