How I Would Invest $1000 in Cryptocurrency in March 2021? | Douglas Borthwick CMO of INX

Very cool, very cool. I have two final questions: big picture, cryptocurrency questions that douglas we like to ask a lot of our guests that come on the show. So if you were investing or how would you invest, one thousand dollars in cryptocurrency today, if you're newly coming into this space, or maybe, if your son, 18 years old, he's like dad, i'm trying to Get into crypto what um? How would you do it? Well, my son's been in crypto for a while.

He's been super excited about it. I think that, yes, i think that if you were to get into it, i think that really there's. There's, two big boys and that's, obviously bitcoin and ethereum for the newbie.

When you come in - and i'd - say it's, probably like a 60 40 or 80 20 70 30 split, where you & # 39. Ve got the majority bitcoin a little bit of ethereum. Now, ethereum hasn't done a catch-up, yet i think ethereum could go much higher.

I i agree with the story that it could be in five figures for sure, but not today, not tomorrow, but certainly it's going to have that march higher once other folks get behind it and gas prices start getting more expensive.

You know it's like if i could go to the gas pump when it's trading at a dollar and put it all in cans and keep it for a later day. I would and and so that's. What i think about with ethereum with bitcoin, i just know that the adoption's coming and it's coming steadily and it's coming.

You know all the time and the other thing is you: don't have to put a thousand dollars into it at once. Instead, what i do is i'd say you know what buy fifty dollars every single day just do that on a steady basis, so you've got this sort of like you know.

This is what that's. What the institutions do they don't, come in and buy a billion and a half right now they buy. You know one dollar every single minute, and that way you get a nice weighted average and that's.

How we do it in currency markets too, so just weight your average, but at the same time you don't have to invest all at once. Just get a taste you go to someone like coinbase today. You can also learn about things.

You can watch videos. I know i'm, telling you to go to the competition, but we're, not live yet, but go to the videos and you can read about what graph is or you can read about all of these different projects.

And you can just start getting into the rabbit hole and then start getting your twitter start following all the folks. You think you should follow on twitter, so you & # 39. Ve got that running stream of information, go on clubhouse and start watching and listening to all of these just walk into rooms and listen, ask questions and then start following guys like yourselves, where you come in there and you get that education on a daily basis.

Look my son, doesn't, get his education from me. He gets it from youtube and that's, a reality for anyone that's 18 years old. It's, either from youtube or it's from tick tock that no one listens to their father anymore, and so that's, where the education is that's, where people learn things and that's where you should go because you're, going to learn stuff quickly and and fast doing it in that manner, and there's.

Lots of different projects out there, but i wouldn't jump into the projects. First first, i'd, have a little taste of the bitcoin just so you can play in it and watch it and get a feel for it, because once you're in once, you've, set up that e-wallet.

You're gonna be in again and again and again and again the hardest hurdle that i find is convincing someone to open up an e-wallet like what are you talking about, and i'm, not talking about a trezor or i'm, not talking about anything or a new wallet.

I'm talking about just opening up a wallet somewhere because they're used to always getting money put in their bank and securities put over at their at their e-trade and so opening up. Something else is to them sort of new.

Then they worry. What if i lose my password well, look don't lose your password and uh. What coins does your son, like do? You know, obviously likes doge. If he gets a lot of information, he's. Not he's, not touching dudes.

He's, got ethereum and bitcoin, and that's it and and if he ever veers away, he gets a stern glance from me, but you know: look he's. I'm happy and bitcoin's more about just bitcoin and money. It's about learning about saving.

You know, because you get kids and kids just want to take money. They just want to spend it and they'd rather spend it. Oh, i need this new stereo. I need this. I need these headphones and, if you say to him, look why don't you hold off, invest in this there's, a possibility that in a couple of weeks time, you could buy three sets of headphones and once he's seen that once or twice over the course of a month or he's, seen a down draft of 20 to 30 and then it come back in so he gets his confidence behind him again or her.

That's. The sort of thing i think that's important is you've got to one get, let people get used to the volatility two make sure they have a position size that they can afford to lose, and three though it teaches saving And it teaches monetary economics, it teaches you the fact that you know what the bank is screwing you up.

It teaches you the fact that there is a way to save you know and when i see him and he scrimps base off of the money. I give him each month and he saves a bit and he throws it into bitcoin or ethereum.

It gives me a little bit of pride because now i know he's saving, because when i told him to put it in the bank, it never went in the bank. It went on to candy. You know i don't know what it went on, but it disappears very very quickly when you & # 39, ve got teenage kids, and so now i'm, actually seeing it grow and seeing something grow and seeing your kid talking About how he doesn't want to spend instead, he wants to save that gives me a great amount of pride, very cool and, and but crypto does that right once you get into it you think about.

Do i really need that flash car, or maybe i should put it into bitcoin and trade - the crappy car, because i could buy 10 flash cars tomorrow and i think that people think like that in crypto in the early days of crypto, it was, let me buy A pizza right or let me buy a lambo, and now i think the guys have bought a lambo when it was trading at sixteen 16.

000 are now kicking themselves because they could have bought the whole dealership and no one wants to be the pizza guy, and this is why i say no one spends bitcoin. Why would you spend bitcoin on coffee? You don't want to be the pizza guy.

You want to be the guy that's sitting there by the time you're 65 and say you know what did pretty good on that did pretty good and if you didn't, so what it wasn't a big enough chunk for you to worry about [ Music ] don't ever invest what you can't afford to lose, and don't ever invest what you're, not uh.

Don't ever invest in an amount whereby, if there's volatility, you're gonna be worrying about it. Just make sure you put in enough so that you can sleep at night and you're. Not worried you, don't have to check it every two seconds.

If you're checking, every two seconds position is too big. Yes, great perspective, make sure you watch the full conversation there's, a link down below in the description and click subscribe. We drop a video every single day, demystifying the cryptocurrency market.

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