Cryptocurrency has brought about a whole new world of investing and building wealth. Already hundreds or even thousands of people have become millionaires after having success with bitcoin in the last decade. One young investor who has done just that is Joseph O’Connor. Here’s what Joseph had to say about finding a financial advisor that understands cryptocurrency investing.
- Look for someone with experience trading bitcoin themselves: even a little cursory research will teach you a good amount about the basics of buying and selling bitcoin, so do that before you reach out to anyone. It’s important you don’t simply go on trust alone, and don’t accept any financial advisor that seems to have a “how different can it be?” attitude. The cryptocurrency markets see some of the same trends as the stock market, but it also acts independently of it, so experience there doesn’t necessarily translate to experience with cryptocurrency. The best financial advisor will always be someone who has traded themselves.
- Ask any potential cryptocurrency financial advisor what security measures they’ll take for you: as the success of trading, cryptocurrencies depends a lot on keeping your cryptocurrency safe – especially if you’re allowing your financial advisor to trade for you.
- Don’t assume your current advisor can simply add cryptocurrency onto your portfolio: in an ideal world, you would go to your financial advisor and ask them to add a cryptocurrency or two to your portfolio, and they would be able to advise you which ones you should invest in and how much. However, this just simply isn’t the case. At least not yet. So many financial advisors still don’t really understand cryptocurrencies because they just see them as too much of a gamble to invest in, so they haven’t bothered to learn. A very small percentage of financial advisors are actually allocating funds to cryptocurrencies, so it may be beneficial to seek out a separate advisor to manage that part of your portfolio.
- Ask them how they work to mitigate risk on your behalf: Cryptocurrency, like any investment, comes with risk. The reason why you choose to put your trust in a financial advisor is to alleviate some of the risks, so ask them how they plan to do so.
- Look for someone excited about the opportunities cryptocurrencies offer: Financial advisors that do understand crypto will be able to tell you that, although it is a big gamble to invest in cryptocurrency directly, you can still take advantage of this growing digital asset. A good financial advisor will be optimistic and excited about the opportunities available for them and their clients in cryptocurrency without being delusional, so look for a positive outlook. This could be through purchasing stock in a company that uses or creates blockchain technology, Bitcoin futures, or through crypto-focused hedge funds.
- If they also invest in stocks, they should be prepared to diversify their clients’ portfolio further, if conservatively at first: Besides the fact that crypto is just becoming more popular to investors, good financial advisors will be able to realize that crypto-assets have the potential for high returns so are actually worth investing in, even if conservatively at first. They will also relish in the fact that cryptocurrencies provide them with a new asset class to offer to their clients, which is just so different from every other asset in their portfolio.
- They need to be looking toward the future: Every financial advisor needs to come to terms with the fact that the popularity of cryptocurrencies is increasing and if they don’t catch up with these modern, digital currencies and learn to properly understand them, they will be losing clients to those financial advisors who saw the potential of crypto long ago. If you are recommended a financial advisor, and they don’t believe in cryptocurrency, move on. They are too set in the past to help you make gains in the future. (This will often mean choosing a younger advisor.)
Although many financial advisors will be playing catch up for some time, it is possible to find financial advisors that are knowledgeable on crypto and will be able to help you further understand cryptocurrencies and the best ways to invest. If you need help, Joseph O’Connor is ready to help and be the cryptocurrency advisor you need to see results. As a self-made millionaire from bitcoin himself, he’s well-positioned to ensure your investments make positive gains too.
Brock Pierce Wants To Disrupt The Two Party System And Be Your Next President
We don’t usually cover politics much here at Disrupt, but when Crypto billionaire and friend of the show, Brock Pierce...
John Mcafee – Predictions For The Future
John McAfee is a world-famous tech CEO, computer scientist, civil disobedience activist, privacy advocate, and pioneer of the commercial anti-virus...
Gaby Wall Street – Teaching Latinas to Thrive During The Crisis
It’s no secret we are facing one of the most challenging financial times of the last few decades as we...
Tony Delgado – The #1 Entrepreneurship Movement In Puerto Rico
Puerto Rican online market is in constant progress. With many entrepreneurs who are coming here to start a business, it...
Elena Cardone – The 10X Ladies Conference Is Declaring 2020 The Decade For Women
The next ten years are meant for women to continue growing their potential and succeeding in multiple areas, including business....
How Josh Elizetxe Built Snow Into a $40 Million Dollar Business
There is nothing quite like an entrepreneur’s determination when starting a business. That’s my original quote by the way (pun...
How Jason Capital Became A Self Made Millionaire By 24
Have you ever wanted to earn the respect of everyone who ever looked down on you at some point in...
Sam Bakhtiar On His Way To A Quarter Billion
Dr. Saman Bakhtiar, who prefers being referred as Sam, lives in an 8200 square foot $5.2 million house, Sam is...
Executive Voice1 week ago
NO DAYS OFF: Billion Dollar Hustle
Executive Voice1 week ago
Learn How This 18 Year Old Grew 14,000 Instagram Followers In A Day
Executive Voice6 days ago
CEO, Jordan Stupar Shares His Insights on What To Expect When You Become An Entrepreneur
Social Media2 weeks ago
Elite Model Andrea Kuoni Shares Her Secrets to Social Media Success
Entrepreneurship6 days ago
The Women Leading The Way in The Credit Industry Share Their Top Credit Tips
Real Estate Disruptors2 weeks ago
How DJ Thielen is Disrupting The Multi-Billion Dollar Real Estate Industry as an Investor & Coach
Entrepreneurship4 days ago
Dawson Barrett Is A Living Testimony That Your Background Doesn’t Define Your Future
Entrepreneurship1 week ago
How Marketing and Funnels Expert Adam Palmer Has Helped Thousands of Businesses Grow