It would be fair to say that the crypto world has been quite “unpredictable” over the past decade. After the market crash of 2022 that sent genuine ripples through the industry and medium itself, it seemed like digital currencies might be done for. After a period of seemingly unsustainable value, prices plummeted, FTX collapsed (with one of the main founders now serving decades behind bars), and public trust in crypto took an understandable hit.

That said, if there’s one thing we’ve learned, you can never truly ignore the influence of crypto technology. The blockchain is still essential for a wide array of functions, and true to its resilient nature, the crypto market has staged an impressive comeback by 2024. Moreover, now the technology is understood and accepted more than ever, widespread regulatory changes and enhanced security measures are slowly rebuilding confidence.

For this reason, corporations, financial institutions, and even some national governments are creating their own digital tokens. Crypto is still here, but should you invest in it after al that chaos?

While we can’t tell you how to invest, we can certainly help you with a few tips. Let’s consider that, below:

Find A Platform That Cares About Transparency

The fall of FTX has certainly caused other crypto trading platforms to become very astute in their communications with client, transparent in their operations, and putting power in the hands of their customers. Using an exchange you can trust, a wallet that stores your coins capably, and those that don’t just aggressively market without investing in their platform is key.

Stay Away From Scamcoins

It seemed that as the blockchain became more and more popular, we saw endorsements in new tokens rising all the time. Unfortunately, many were pump and dump schemes even questionably promoted by public figures like Elon Musk or online influencers. Stay away from transient tokens if you can, and just try to invest in the main three – Bitcoin, ETH, and USDT.

Use Bitcoins Functionally

Investment is one approach, but another great function is that Bitcoin is now accepted in many online exchanges. That’s a great way to add privacy to your purchases if needed. For example, if you want to donate to an online platform you use, if you want to keep some money out of your bank for a little while, or if you’d prefer to pay someone you know overseas, Bitcoin can be a great function to use. It’s not just about investment, but investing in the convenience of your life.

One Part Of A Portfolio

The idea of throwing all your money into crypto and becoming rich overnight is hardly going to be a good idea, given what we’ve seen from the technology. That said, having a few fractions of a Bitcoin as part of a manageable investment portfolio can certainly be reliable. This way you can keep your coin safe in your wallet and relax knowing your investment can be adjusted at your leisure.

With this advice, you’re sure to make use of the legitimization of Bitcoin in 2024 and beyond.

Greg Kononenko
Greg Kononenko

My name is Greg Kononenko and I am a full-time online blogger and owner of Dad's Hustle. I'm a dad, and my passion is to help other mums and dads to start their own "hustle" and improve the financial future of their families.

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