Investment Diversification Regarding Crypto Gets Ignored Often
Because of crypto’s “get rich quick” allure, sound investment advice regarding it is easy to ignore.
The Terra Luna crash happened a few months ago.
One thing that still intrigues me about it? People who said they invested their life savings in the coin. From posts on Twitter and Reddit. To this article by a 23-year-old who now lives paycheck to paycheck and is wary of investing in crypto again. (And arguing for more regulation.)
Even though I first heard about Bitcoin in 2015, I am very much a crypto novice. I didn’t have time to pay attention to the space until 2020. From what I’ve researched, the big dogs in the area have always been Bitcoin and Ethereum. The two coins that still are #1 and #2 even today.
But, as with anything, Bitcoin and Ethereum would never remain the only crypto coins out there. Just as the ($)USD isn’t the only fiat currency in the world.
And like with other fiat currencies, not all of them are as stable as the top two leading coins. (Or, at least appear to be.) Even if they are called or considered a “stablecoin” (a coin tied to another asset like the USD) as Terra Luna was.
