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Everyone’s Talking About Cryptocurrencies. Should You Invest?

Engelo Rumora
2 min read
Everyone’s Talking About Cryptocurrencies. Should You Invest?

Absolutely everyone is talking about bitcoin, ethereum, ripple, and any other cryptocurrency. So I thought, hey, I might as well share my zero point two Australian cents with you guys.

It’s still very early on with this technology. A lot of people have no clue what they are doing, me included. I don’t really know what I am doing, but I have invested. I have invested for the reason that I want to learn what all of this is about. Plus, I have a big intuition telling me this is the wave of the future. This is the second internet, right? So I want to be a part of it. I want to be a part of it at ground level because I want to learn.

Which Cryptocurrencies Are Best for Investment?

I have invested quite a bit of money but have not touched the likes of bitcoin. Every John and his dog is investing in bitcoin, and I’m a black sheep. I don’t want to be like everyone else. After doing a lot of research and speaking to a lot of other successful entrepreneurs and business partners, I’ve heard that bitcoin is not a technology that has been built as well as some of the others.

For example, ethereum has been built in a much better way than Bitcoin has. What’s so cool about ethereum is other cryptos can build their own blockchain or expand on ethereum’s blockchain to start their own cryptocurrency. So think of it as an app store. Other companies can go in there, build their own apps, and make money from those apps that they build. Ethereum is a really popular one right now. Another one that is really big is ripple. I’m not a big fan of ripple just because the founders of it have created huge wealth for themselves from launching this cryptocurrency, and I just don’t agree with their philosophy.

Related: 4 Reasons Cryptocurrencies & Blockchain Technology Are Poised to Transform Real Estate

So I have invested in a few not-so-hot cryptocurrencies based on the advice that I have received from a lot of my colleagues. The tech behind these particular blockchains is awesome, and the team behind these particular blockchains is even better. Their vision for the future just makes a lot of sense to me. So I thought I would put some money in to test it out, get my feet wet, and learn the process.

Proceed With Caution

My advice to you is don’t go all in. Don’t sell your house to invest in bitcoin, ethereum, ripple, and all these other cryptocurrencies. If you are going to invest, invest small and learn what the hell it is that they are doing. I truly believe we are at the beginning of something great. But I also believe that there is going to be a huge crash somehow. Maybe there will be only a few survivors like in the dot-com boom. Will that be bitcoin, ethereum, ripple, or stellar lumens? I don’t know. I do believe someone will survive and they will thrive.

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So, who’s investing in cryptocurrencies right now and what’s your take?

Comment below!

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.