How can I make money with cryptocurrencies?
Cryptocurrencies, digital money that is transforming the way to view transactions. Blockchain, a decentralized ledger system on which these cryptocurrencies operate, is here to stay. Arguably the concept of Cryptocurrencies is here to stay, as well. As revolutionary as they are, the space remains a speculative and extremely risky place for investment. We’ve seen wild run up and quick crashes in the market over the last number of years.
If you are new to cryptocurrencies, Bitcoin and blockchain, you can read an introductory guide I wrote here. Cryptocurrencies have made a lot of people a lot of money other the last number of years. But there’s a whole other domain of the crypto world that blew up in popularity starting in 2017 and has made many overnight millionaires even quicker. Initial Coin Offerings; ICOs. Similar to the concept of an IPO, where an company uses crowdfunding to gain capital to produce and scale their product and company.
Why can’t I save any money?
I’ve found over the years showing your true colors and being painfully blunt usually isn’t the best strategy. People either lock up defensively when you come at them with the raw truth, or the honest reality is too painful to hear that they create and hold on to illusions rather than face the truth. It’s easier for myself, and generally more effective to get the point across to sugarcoat truths and tailor the message for the audience.
Sometimes though, tough love is the best remedy.
How to invest your money
It’s human nature to want what we don’t have. To assume some alternative to what you currently have is somehow better. Over the last while I’ve felt this phenomena regarding my investments. I recently explored some alternative routes to my investment strategy. See an analysis here.
Now that I’m teaching English in China, and upping my online teaching hours I have some serious cash flow to dump into my investments. So I felt it necessary to review my plan of action moving forward.
Growth Investing, high dividend stocks, & ETFs
As investors we are here to make money. We are always looking for the most favorable return. Since there are many ways to skin the proverbial cat of reaching our goals, we need to look into the total picture of costs and benefits of all options.
For most of my investing career I’ve taken the growth investing approach through buying market index ETFs. I’m young and they provide a less risky way of achieving baseline returns. Though since I’m relatively young; passing my mid twenties, I’m wondering if I should be looking at other approaches.
Canada legalizes recreational marijuana in 2018
Legalization of recreational marijuana use is penned for July 2018 in Canada, naturally marijuana has been a hot topic around the country – and the world – lately. For the last few years stocks of Medical marijuana companies have been on fire. And they aren’t showing signs of slowing down.
The mere promise of legalization. The ever changing landscape of regulations. And many companies still proving to show profitability makes this a risky industry to be investing in. As an array of companies flood into the space, it’s hard to know which stock to put your hard earned dollars into. With many realizing 100% gains over the last year, it is certainly not an industry you want to be overlooking.