The Number One Rule for Investing in Crypto, According to Dogecoin Founder
Dogecoin (DOGE) co-creator Billy Markus, also known as Shibetoshi Nakamoto, recently shared his top rule for investing in digital assets. He advises traders to only invest as much money as they would be willing to lose completely.
Key Points:
- Markus cautions against investing more money in crypto assets than you are willing to lose in a fire.
- His favorite tokens include Bitcoin (BTC) and Ethereum (ETH), the top two digital assets by market cap.
- Markus describes Dogecoin as “Bitcoin in a dog suit” and expresses a dislike for ERC-20 tokens built on top of Ethereum.
- Earlier this year, Markus warned against investing in memecoins and non-fungible tokens (NFTs), comparing the crypto space to gambling.
- As of now, Dogecoin is trading at $0.0617, experiencing an 8.1% decrease in the last 24 hours.
Hot Take:
Markus’s number one rule for investing in crypto serves as a reminder to approach the digital asset market with caution. It’s essential to only invest an amount that you are comfortable completely losing. Additionally, his preference for Bitcoin and Ethereum highlights their significance in the crypto space. However, his skepticism towards ERC-20 tokens and memecoins indicates a more cautious approach to investing in these assets.
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