Should you invest in cryptocurrencies? Here is the opinion of an American Billionaire, Mark Cuban





Investments in crypto-currencies can make sense, but with limits.

Here’s what Mark Cuban thinks about buying cryptocurrencies.

Although Mr. Cuban has supported investing in cryptocurrencies, both in words and deeds, he believes that the amount of money used to buy virtual currencies should be limited. On the same subject : SHIB: Top 1000 ETH whales hold over $2 billion worth of Shiba Inu..

β€œI would limit it to 10%,” he said. And he urged cryptocurrency investors to find a cheap index fund linked to the S&P 500 to put the rest of their money in. The S&P 500 is a financial index that tracks the performance of major US companies and is one of the safest and most reliable long-term investments.

In other words, Cuban suggests you take a balanced approach. If you want to take a chance on an untested asset like cryptocurrencies, you need to make sure that you only put in money that you can afford to lose, and that you invest the bulk of your assets in a proven low-risk option.

This advice is sound, because you shouldn’t put all your eggs in one basket, especially when this basket contains volatile investments that do not have the same performance history as S&P index funds, and which could very well not ultimately be profitable. So if you are considering investing in cryptocurrencies, you should consider Cuban’s suggestion to limit your purchase to 10% of your portfolio and choose a safer investment for the rest of your cash.

πŸ’Ž Open an account for free to Invest in crypto!

CoinHouse allows you to easily invest in crypto-assets. Creating an account is free and takes just a few simple steps.

πŸ“ˆ Trade cryptos online in just a few clicks!

eToro allows you to trade cryptocurrency easily online. Creating an account is free and very simple.

68% of retail investor accounts lose money when trading CFDs with this provider. You should ask yourself if you can afford to take the high risk of losing your money. eToro users in France cannot open positions to buy real crypto assets, all orders are opened as CFDs.

Unlike some financial experts who are against cryptocurrencies, like Warren Buffett, Cuban doesn’t think putting his money in virtual coins is a bad idea. Read also: What is Web 3.0 and how will it change the way we use the internet?. In fact, he’s made it clear that he thinks taking calculated risks is worth building wealth because millionaires and billionaires don’t typically amass their fortunes by always taking the sure-fire approach.

However, while he thinks cryptocurrencies are worth taking a chance on, he also acknowledged that this asset is untested and comes with a lot of risks. He called crypto a β€œflyer” and likened it to a collection of art, baseball cards or shoes. He also suggested only putting money into this sector if “you’re a real adventurer and really want to put your feet up.”

Cuban specifically cited Bitcoin and Ethereum as potential coins you might want to invest in, but he also warned that β€œif you do this, you have to pretend that you have already lost your money. Β»

Despite his caveats, Mr. Cuban owns cryptocurrencies himself and has invested in societys of blockchain. He is willing to put some of his own money on the line because he clearly believes virtual currencies have potential.

How much of your money should be in cryptocurrencies?

Although Mr. Cuban has supported investing in cryptocurrencies, both in words and deeds, he believes that the amount of money used to buy virtual currencies should be limited. On the same subject : SHIB: Top 1000 ETH whales hold over $2 billion worth of Shiba Inu..

β€œI would limit it to 10%,” he said. And he urged cryptocurrency investors to find a cheap index fund linked to the S&P 500 to put the rest of their money in. The S&P 500 is a financial index that tracks the performance of major US companies and is one of the safest and most reliable long-term investments.

In other words, Cuban suggests you take a balanced approach. If you want to take a chance on an untested asset like cryptocurrencies, you need to make sure that you only put in money that you can afford to lose, and that you invest the bulk of your assets in a proven low-risk option.

This advice is sound, because you shouldn’t put all your eggs in one basket, especially when this basket contains volatile investments that do not have the same performance history as S&P index funds, and which could very well not ultimately be profitable. So if you are considering investing in cryptocurrencies, you should consider Cuban’s suggestion to limit your purchase to 10% of your portfolio and choose a safer investment for the rest of your cash.

πŸ’Ž Open an account for free to Invest in crypto!

CoinHouse allows you to easily invest in crypto-assets. Creating an account is free and takes just a few simple steps.

πŸ“ˆ Trade cryptos online in just a few clicks!

eToro allows you to trade cryptocurrency easily online. Creating an account is free and very simple.

68% of retail investor accounts lose money when trading CFDs with this provider. You should ask yourself if you can afford to take the high risk of losing your money. eToro users in France cannot open positions to buy real crypto assets, all orders are opened as CFDs.

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