Here's How Suze Orman Thinks You Should Invest in Crypto
Cryptocurrency can be a risky investment because of its volatility, but it's also become an increasingly popular one. And many financial experts have endorsed investing in it -- including Suze Orman.
However, Orman has some specific advice about exactly how you should go about the process of investing in cryptocurrencies. Here's what she suggests, based on how she purchases her own cryptocurrency investments.
Orman says she makes her cryptocurrency purchases through PayPal for two reasons.
The first is that it's simpler, as figuring out how to navigate the process of buying virtual coins can be a challenge. That's because, while a growing number of mainstream brokers are making it possible to buy cryptocurrencies on their trading platforms, there are still limited places where you can buy most coins.
And the second reason she advises purchasing through PayPal is that doing so means it's possible to invest without the need of a crypto wallet. A crypto wallet allows you to store digital currencies. They can be hacked or you could permanently lose access to them if you lose your private key.
These coins are more well-established than other types of cryptocurrency, which means that while they are still volatile, they are less subject to extreme swings in price -- and less likely to go down to $0 if the coin turns out not to be viable over the long term.