The moment of truth has arrived for Bitcoin. Born out of the GFC, how’s it going to perform now? Janine Grainger is my special guest today to discuss.
Note – this episode is great for those with some, or very little, understanding of Bitcoin.
Janine Grainger, the co-founder of online crypto-retailer, Easy Crypto.
Last week, I shared a quote from Jerry Garcia (The Grateful Dead)
“Stuff that’s hidden and murky and ambiguous is scary because you don’t know what it does.”
Bitcoin is one of those hidden, murky and sometimes ambiguous things – it can be harder to understand than say, KiwiSaver by contrast. For some of us, it’s certainly more complicated than owning property or having a term deposit. Just because there’s much to it that’s unknown though (and I put this down more to a UX problem to solve more than anything else), it doesn’t make it wrong. In fact, I’d like to go on the record here for what it’s worth – If you’re reading this, it’s possibly the best time to get into Bitcoin right now.
In this episode you’ll learn a bit more why I believe this is the case.
Now, if your sitting on the fence still because this still feels a bit scary, can I encourage you to part with $50 as a first attempt? If you can afford to lose $50, then consider it an investment in education. Yes, there’s a bit to learn, but you’re knowledge will come partly by doing, so make a start today by setting up an account with Easy Crypto.
As Janine mentioned in the show, here’s 3 things to keep in mind, when investing in Bitcoin, especially if it’s your first time.
Do your research. There’s no shortage of places to go to learn stuff. This podcast is great to a certain extent, but check out ‘The Crypto Conversation’, a great NZ-based podcast also. If it’s questions around how to ‘be your own bank’, lean on the retailer you’ve used to purchase your assets also. The more you invest into Bitcoin, relative your wealth, the more seriously you should understand how it all works.
Remember you never need to send Bitcoin anywhere to get your Bitcoin. Many of the scams out there ask for some of your Bitcoin, in order to release the Bitcoin that’s already yours – once you have it, you have it, and you don’t ever need to pay to get to it.
Manage your Bitcoin yourself. If you’re cold-called by a Bitcoin broker offering you their services, don’t blindly trust them! Ideally, don’t leave your Bitcoin on a ‘hot-wallet’ (aka online) either (especially if you have a decent amount of it). Learn a bit on how to use ‘cold-storage’ options like the Trezor wallet.
I’m always happy to chat also – as I think any authorised financial adviser should be, about whether or not investing in crypto-assets is right for you.
_________________________________________
Like what you’ve heard?
You can really help with the success of the NZ Everyday Investor by doing the following:
1- Tell your friends!
2- Write a review on Facebook, or your favourite podcast player
3- Help support the mission of our show on Patreon by contributing here
4- To catch the live episodes, please ensure you have subscribed to us on Youtube:
5- Sign up to our newsletter here
NZ Everyday Investor is on a mission to increase financial literacy and make investing more accessible for the everyday person!
__________________________________________________________________
Where to find Darcy Ungaro:
Ungaro &Co (authorised) financial advisers
Want to chat, then you can schedule in a free 15 min conversation just click on this link
You really should subscribe to our newsletter to ensure you are receiving the latest updates if you’re a fan of the show.
