The inevitable article
It would be wrong for me to not eventually comment on the wild speculative world of crypto & pot stocks in 2018. Although, I’m not particularly excited to offer my take as these industries are largely populated by over opinionated uneducated gamblers who despise critical thinking.
Still, the fact remains… they are hugely popular and also very misunderstood. I am certainly no expert on these matters although I do have experience with both.
Firstly these industries suffer hugely from “FOMO” (Fear Of Missing Out). The market is a very emotional place; despair = price drop & hope = price increase. This causes huge price fluctuations as crypto & pot stocks are many peoples first investments. They invest dreaming of becoming wealthy and at the first sign of trouble they sell at a loss to reduce the pain of losing their capitol.
Then, the market regains hope and money pours back in causing prices to increase. You can guess what happens next. A small price decrease, everyone sells and a simple correction becomes much much worse.
So, why invest?
Because for the long-term investors there is a huge upside potential. But it is, very, very speculative. The potential growth for the marijuana sector globally as countries roll out legalization is truly amazing.
If cryptocurrencies cam make their way into the mainstream of everyday life being adapted by the general public the value will soar. Again, this is hugely speculative.
Invest money you are willing to lose. Invest, and forget about it. Checking these too often will cause you pain as the prices change dramatically weekly.
If you want to purchase crypto currencies, here’s how.
Sign up on
Binance (This is where you will trade your Ethereum or Bitcoin (ETH,BTC) for “altcoins”) You can also simply purchase Ethereum or Bitcoin & hold that as your investment. But there are hundreds of “altcoins” which may see higher growth but are more risk sensitive.
Coinbase (This is where you exchange government currency (FIAT) to crypto (ETH,BTC) from here you can send it to Binance and start trading.)
If you want to invest in Pot Stocks, here’s how
Contact your bank and open an investing account. There are several other independent agencies that’ll allow you to purchase stocks as well. Questrade being an example. Once you have the trading account you simply move money into and purchase your stocks.
Personally, If you’re setting it and forgetting it I’d look at purchasing a low cost ETF such as HMMJ.
Anyways, hope this offers some value to you.