I recently received an email from Twila, who asked a great question:
I just watched Matt’s video on Bitcoin vs. Ethereum. I’m wanting to start investing in cryptocurrency but don’t know where to start. I recently had a recommendation to invest in Dogecoin, but I don’t know how. Do I start with a crypto app and, if I do, which one? Could you do a video to explain these things to newbies like me? — Twila.
It reminded me that while there are a lot of people who are interested in investing in cryptocurrency, they may not know how to get started.
Investing in cryptocurrency isn’t the same as investing in stocks. You can’t buy and sell cryptocurrencies on many traditional investment brokerage platforms. And, you have to have a way to store your crypto investments.
In this episode of The Bull & The Bear, I’ll tell you how to get started investing in cryptocurrency if you are a beginner.
Cryptocurrency Inflows Pick Up
Despite their volatility, investors are still piling into cryptocurrencies as investments.
In 2021 alone, more than $5.7 billion has flowed into the cryptocurrency market, according to CoinShares. Bitcoin carries the lion’s share of that inflow with around $4.1 billion. Ethereum is approaching $1 billion in investor inflow.
Year-to-date, these cryptocurrencies have more than $56.8 billion in assets under management.
For the week ending Aug. 24, 2021, cryptocurrencies saw inflows totaling $24 million. It was the second consecutive week of investors putting more money into cryptos than they were taking out.
This bullish streak is mainly due to stronger investor sentiment in cryptocurrencies other than bitcoin.
In 2021 alone, more than $5.7 billion has flowed into the cryptocurrency market, according to CoinShares. Bitcoin carries the lion’s share of that inflow with around $4.1 billion. Ethereum is approaching $1 billion in investor inflow.
Year-to-date, these cryptocurrencies have more than $56.8 billion in assets under management.
For the week ending Aug. 24, 2021, cryptocurrencies saw inflows totaling $24 million. It was the second consecutive week of investors putting more money into cryptos than they were taking out.
This bullish streak is mainly due to stronger investor sentiment in cryptocurrencies other than bitcoin.
The Bull & The Bear
Led by Adam O’Dell and a team of finance journalists, traders and experts, Money & Markets gives you the information you need to protect your nest egg, grow your wealth and safeguard your financial well-being.
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Safe trading,
Matt Clark, CMSA®
Research Analyst, Money & Markets
Matt Clark is the research analyst for Money & Markets. He is a certified Capital Markets & Securities Analyst with the Corporate Finance Institute and a contributor to Seeking Alpha. Prior to joining Money & Markets, he was a journalist and editor for 25 years, covering college sports, business and politics.