Sunday, March 7, 2021

What we can learn from celebrities who have invested in Cryptocurrencies

Cryptocurrency has been rising in popularity over the past few years. While initially it was mostly used by engineers and technology-minded people it is becoming increasingly mainstream thanks to several Bitcoin bubbles, most recently in 2017, where the price of Cryptocurrencies skyrocketed.

Since 2017 there has been a massive rise in people investing in Bitcoin and other cryptocurrencies, which has created a booming market. Many celebrities have thrown their backing behind cryptocurrency, which has only increased their financial market value.

Aston Kutcher

Ashton Kutcher is one of the most prominent celebrities that come to mind when you think of cryptocurrencies. He was an early investor in the world of Bitcoin and helped to bring cryptocurrencies to the attention of a whole new market of people.

Kutcher has even formed his own cryptocurrency investment firm and is a vocal advocate for digital currencies. He has used his vast wealth and knowledge of cryptocurrencies to donate millions of dollars to charity, showing that you don’t need a conventional bank account to do good in the world.

Paris Hilton

Paris Hilton initially backed a cryptocurrency called Lydian Coin, though later went quiet on the subject thanks to Lydian Coin’s founder admitting to domestic abuse. This can show the pitfalls to following celebrity backings blindly, as Lydian Coin has mostly disappeared from the market. Hilton can be used as a valuable lesson for anyone interested in getting into cryptocurrency.

With this in mind, if you’re ready to dip your toe into the world of cryptocurrencies, it can be daunting to know the best place to start. A great cryptocurrency to begin investing with is Tether.

This is a currency that largely keeps its value to the US dollar, unlike Bitcoin which can fluctuate massively. Make sure to use a reputable marketplace to purchase Tether (USDT). Trustworthy marketplaces like Paxful are fantastic for new and seasoned investors alike, making investment simple.

Maisie Williams 

The Game of Thrones star invested in Bitcoin after asking the advice of cryptocurrency experts on Twitter. Though the replies to Williams’ question were mixed, she eventually chose to invest anyway, prompting many in the cryptocurrency world to commend her on her investing savvy, showing the importance of following your gut when it comes to investing.

Hugh Laurie

Hugh Laurie invested $5,000 in Bitcoin back in 2015. With the bubble that followed, the actor would have seen a significant return on his investment. He has stated that he invested on the advice of a friend, which highlights the importance of having an understanding of the market before you invest in cryptocurrency.

Most of us will not have the benefit of free advice from expert friends, so it is crucial to ensure that you do your research thoroughly before you start investing. Learn the market, bide your time to see how it fluctuates and what can affect it, and make sure that you are confident of your investment before you proceed. If in doubt, it is best to wait a while to see how strong the market is in the longer term.

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