Ask Leo - Why Invest in Cryptocurrency Isn't a Good Idea If You Need the Money Soon

Cryptocurrency has become an increasingly popular investment in today's society. Out of variable option of Investment many people consider crypto as best in making a quick profit, they consider it as quick investment they can put all saving and possibly cashout 3x their savings. While it's true crypto has make some people made a lot of money through their investment, but not all who invest in crypto has the luck of making profit.

Image source

Crypto is volatile market, however its important to remember it's an investment that truely have potential to make a huge profit but it involves high level of risk. And that's the reason why investing in cryptocurrency may not be a good idea if the investing money will be needed soon.

Before i came into this, i was told not to invest in the money i know i will need in few weeks or soon, the trust is thag crypto market can be fluctuating by the time you invest. For instance if you invest in crypto today and need your money back in few weeks, you may endup losing a significant amount of monry due to the volatility of the market and your short-term vision.

If you need the money soon, investing in cryptocurrency may not be best idea, in fact don't try it because of the volatility, although some are day trader but there is higher risk and it can be challenging to know the best time to sell. Only use the money you plan not to use soon to Invest in cryptocurrency, its probably best to avoid cryptocurrency market if you're looking to invest the moeny that you need in shorter time.

It’s not always the best investment option to invest on money you need in the short term on crypto while looking for viable Investment, it's better you Invest it in our traditional investment outside cryptocurrency.

However, if you have a long-term investment horizon, investing in crypto is for you, it now depends on your goals, tolerance, risk to make out good profit.

Thank you for reading, dont forget to share your investment strategy on the comments section.