US Finance Experts Give 3 Crypto Investing Decision-Making Tips

Two American finance experts recently provided cryptocurrency investing decision-making tips to consumers. Thomas P. Vartanian is a financial services lawyer and the Financial Technology and Cybersecurity Center’s executive director. Stephen P. Harbeck is the Securities Investor Protection Corporation’s retired president and chief executive officer.

The Current Crypto Landscape

Vartanian and Harbeck initially discussed the present virtual currency landscape. They mentioned the founder of California’s Titanium Blockchain Infrastructure Services recently pleaded guilty to a crypto-asset fraud scheme that raised US$21 million. For instance, Robinhood, which is among the largest cryptocurrency and meme stock brokers, has just retrenched 23 percent of its workers. Additionally, Bloomberg news company recently exposed the stablecoin business, questioning the backgrounds of some business people who have launched cryptocurrency offerings.

The Need for Crypto Investing Tips

Vartanian and Harbeck acknowledged the reality that due to the adverse events in the cryptocurrency industry that have taken place lately, many investors have no clue of their next steps, whether to take their profits or cut their losses. They gave the following three cryptocurrency investing decision-making tips to investors who cannot decide whether to invest or remain invested in cryptocurrencies or otherwise:

A. Ensure Financial Basics

An investor should ensure that he has his financial basics covered. This tip means having an emergency fund in place, maintaining a bank account insured by the Federal Deposit Insurance Corporation, having an investment account with a securities broker safeguarded by the Securities Investor Protection Corporation, paying monthly bills on time, and paying off consumer debt.

B. Only Invest What You Can Afford to Lose

An investor should invest only the money he can afford to lose. They advised a virtual currency risk-taker to set reasonable investment funding limits and not be seduced into trading cyber-assets on a margin.

C. Don’t Take Cryptocurrency Investing Too Seriously

An investor should not take cryptocurrency investing quite seriously. They advised that losses should be seen as learning opportunities and that any gains should be modestly celebrated.

Conclusion

We want to thank Mr. Thomas P. Vartanian and Mr. Stephen P. Harbeck for their three cryptocurrency investing decision-making tips. We find their guidelines truly helpful and recommend our readers follow them for their long-term advantage.