Things To Keep In Mind While Investing In Bitcoin And Cryptocurrencies By Trader And Youtuber Carl Eric Martin Runefelt
Carl Eric Martin says that investing in digital assets could prove to be the best move for people and businesses if done right.
Around a decade ago, bitcoin was introduced to the markets and they became the first digital assets that generated an entire ecosystem of cryptocurrencies. Many smart entrepreneurs understood the power it had and could have in the future as a great alternative to the physical monetary system and many other traditional institutional players watched curiously the development of the same. It is also a fact that the crypto markets are very volatile and the world is still very far away to make that complete transition. However, many new businesses and entrepreneurs are looking forward to the same for a seamless and convenient transaction system as against a broken banking system. Carl Eric Martin Runefelt, a flourishing trader and YouTuber is of the similar opinion and believes that people must put enough emphasis on the growth of these digital assets that have the power to completely transform the monetary systems for the better. But, there are a few important things as well, which he states must be kept in mind before investing in cryptocurrencies.
- Focus on diversifying the risk: In a world that is much driven by instant gratification, it is essential to understand that if investing in these digital assets can make a person win like a lottery, it can also make him/her lose big amounts, points out Carl Eric Martin. Hence, the key to investing in cryptocurrencies is to diversify the risk by investing in several cryptocurrencies that are weighed up carefully by financial professionals.
- Add up to the knowledge: All the results that an individual would get ultimately would come out as a result of his/her own decisions. For making informed decisions, one must carry out proper research in the same and keep adding to their knowledge with newer insights and pieces of information. They can rely on trustworthy resources like books and YouTube channels like The Moon, where Carl Eric Martin himself educates people about bitcoin.
- Make investments through professionals: People can also take help from regulated professionals who can help them research and find a portfolio of cryptos that can give them a steady ROI. Also, Carl Eric Martin suggests individuals to look out for professionals that have earned RIA status (Registered Investment Advisor) by the Securities Exchange Commission, where they have a fundamental obligation to provide investment advice for the client’s best interests.
Carl Eric Martin also highlights that curious and risk-taking entrepreneurs may want to bet big in the markets, while many other novice investors may not want to get exposed to significant risks and hence for them it is essential to consider the above-mentioned points for adopting a more conservative approach.
Follow Carl Runefelt on Instagram @TheMoonCarl