Experts warn against relying on crypto for long-term wealth due to extreme volatility

From Nasdaq
November 2, 2024 5:00:20 pm:

Cryptocurrency, like Bitcoin, operates on decentralized networks using blockchain technology. While Bitcoin saw a 17% decrease in value from March to August 2024, investing in crypto for long-term wealth is not advised due to extreme volatility. Experts recommend treating crypto as a discretionary investment, not a cornerstone of retirement planning.

Alternative ways to build wealth include starting a side hustle, investing early and consistently in low-cost index funds, and building a solid emergency fund. These strategies can help individuals save, invest, and prepare for financial emergencies, ultimately leading to long-term financial stability. Experts caution against relying on crypto for long-term wealth due to its volatile nature.

Read more at Nasdaq: Experts Say There’s 1 Big Crypto No-No, but 3 Brilliant Ways You Might Just Strike It Rich