Investing your Yen in Crypto Currencies, what to do?
Disclaimer: I am not a financial expert. I’m an English teacher. Frankly, I am tired of financial experts, who charge fees that are too high and make everything extraordinarily difficult, when it should be easy.
On Building a Diversified Portfolio of Investments
“You’re probably already reading a lot of online stuff, but one community that is popular is r/bitcoin (on Reddit) and r/BTC (Reddit too).
Andrew Hallam on TD Direct International Index Funds.
Crypto Currency while exciting and potentially a windfall, it should not be the bulk of your investments. Follow Hallam`s advice and build a diversified portfolio.
Also, you’ll want to study everything Andreas M. A(a very long Greek name) says. All the major Bitcoin investors swear by him. ”
I just put ¥100,000 into bitcoin and ¥100,000 into Etherium. I think the crypto currencies are the future and a good long term bet.
But it’s the Wild West! And I think we are all still learning. So it’s dangerous. So I’m only putting in what I can lose. You should too!
*You should not borrow to invest! It’s too risky! Invest spare money you can afford to lose!
Crypto CurrencySuccess Stories
However the success stories are truly amazing!
Japan is a great country to be in. Since the mount Gox fiasco, regulations of been put into place to regulate the crypto currencies including bitcoin.
I’m reading and watching all that I can about these currencies. In the hopes of retiring very rich. I doubt I would quit working totally. I think people don’t do well with total retirement. I’ve seen too many die soon after.
A university student in California was on CBC and talking about how his $4000 summer job money became 500,000 and he started his own investment company specializing in Etherium.
A student of mine invested $700 in Bitcoin and sold at $18,000. He quit his part-time job to focus on his studies.
I have been learning about the block chain (which is amazing) wallets, and two factor authorization. The block chain technology makes the crypto currencies much safer than the standard currencies we have now, and keep at banks(that get hacked) or physically robbed.
When anything new comes along, people with vested interest in the old way cry foul. Until the new way rises up and takes over.
Look at the way we do things now. Paper money! And yet the whole world is going digital. Even credit cards are clunky and prone to identity theft.
Anyway, don’t listen to what I say. Buyer beware! Make your own decisions. But I want to put any spare money into this gold rush. But only what I can afford to lose.
I say gold rush. Although I feel that in 20 years or less, the crypto currencies will be the way we pay for things. Paper money (that costs more to produce) will be history. Governments will see the value in getting rid of it. The kinks of crypto will have been worked out. It will no longer be the Wild West. It will simply be how we do business and pay for things.
By Robert Ludgate