How to start investing in crypto: Strategist
Ric Edelman, founder of the Digital Assets Council of Financial Professionals, joins Wealth! to explain how first-time investors should enter the cryptocurrency market. He points to spot bitcoin ETFs as a great place to start: "They're just like any other ETF, which everybody's familiar with. Buy them in an ordinary brokerage account. They're incredibly inexpensive." He warns that Bitcoin (BTC-USD) is still very volatile, so investors should "stay focused long-term, don't over-invest, and don't invest for the wrong reasons." Edelman explains that more cryptocurrency ETFs will hit the market, as ethereum (ETH-USD) currently has several applications pending. "I'm not sure how quickly you'll see anything else after that, but [bitcoin and ethereum] will open the doors long term. Five years from now, there will be dozens, perhaps even hundreds, of crypto ETFs," he adds. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl
