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Leave Cryptocurrency

Investing to Pros, Pros Say

By : Mallory Hall basically when startups funded by investors issue
tokens that people can buy. Like any other sort
t he recent rapid rise of various of early-in investment, these tokens (essentially,
cryptocurrencies, including bitcoin, has
shares) may or may not end up having value in
been driven by a flood of money and interest the future.
from “ordinary” investors. According to experts
though, the cryptocurrency-investment-scape Amid the rush to crytocurrencies and
might not be the best arena for n00bs to cut their blockchain, all elements of which are rapidly
teeth. developing and evolving, scams and failures
seem certain. According to Yahoo News, some
As reported by Yahoo News, Perianne Boring, analysts are likening the flocking-to happening
President of the Chamber of Digital Commerce, today to the internet right before the dot-com
said “If you don’t have a basic understanding crash in 2000.
of what you’re getting involved with, then it’s
probably not the best time for you to engage.” “I think [the] analogy to the Internet is right
on, in the sense that there will be an economic
“Today, it’s really more appropriate for a more shakeout,” attorney Grant Fondo said, Per Yahoo
sophisticated investor,” Boring added. News. “You hear these stories about people
putting all their money behind one person or one
In other words, leave cryptocurrency investing project. That’s just a bad idea.”
to the pros.
Especially when, according to the same experts,
The Chamber of Digital Commerce is a trade “ordinary” investors don’t really understand what
group representing the blockchain industry, they are doing.
which undergirds bitcoin and many other
cryptocurrencies. Some people, especially Boring said people investing in cryptocurrencies
computer programmers and other tech-savvy need to know what they are dealing with.
individuals, understand blockchain, but many “That increased level of opportunity,” she says,
others don’t. These “many others” are the folks “also brings about an increased amount of
who have been investing in cryptocurrencies, responsibility on the individual consumer.”
presumably hoping for a quick financial windfall.
Still, industry insiders – pros — remain
According to Yahoo News, Boring and other confident enough to put their own money
industry officials worry that unexpected investor in cryptocurrencies. “I have more money in
losses or other setbacks could create negativity cryptocurrencies than in any formal retirement
around this technology and related currencies. savings account out there,” Boring said. “I’m all
This may then lead to backlash and over- in.”
regulation, stunting blockchain industry growth
and development. Are you a pro? Or, will you do what a pro says?

“We are in a very nascent time in this ecosystem,”
Boring said, per Yahoo News. “We currently have Mallory Hall is from Central Texas. She has
a very fragmented regulatory regime. The rules to worked in journalism since her university years
the road are pretty complicated from a consumer and enjoys exploring unexpected occurrences in
perspective.” ordinary places.

There are different ways to invest in the Reprinted courtesy of YNot
blockchain, each with different levels of risk. For
instance, investors can purchase cryptocurrencies
on exchanges such as Coinbase and Kraken.
There are also initial coin offerings, which are

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