I Got Burned by Crypto: 6 Reasons I’ll Try Again — Even If It’s Begrudgingly

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The volatility can wipe out a large chunk of your portfolio in days, leaving you wondering if it’s even worth holding onto. But for many investors, walking away entirely isn’t the answer.Read More: 13 Cheap Cryptocurrencies With the Highest Potential Upside for YouFind Out: 9 Low-Effort Ways To Make Passive Income (You Can Start This Week)GOBankingRates spoke to Ankush Chowdhury, founder of Humanizer AI, who lost nearly 40% of his portfolio during the 2022 market crash. Even after being burned, Chowdhury has six reasons he believes in crypto’s potential.In its early days, crypto was poorly regulated and limited in use. Today, regulations have become clearer, exchanges are more secure, and the technology itself is maturing.“Today’s cryptocurrency market is very different from what it was. Our regulations are now clearer, infrastructure is better, and our applications are practical,” said Chowdhury. “Cryptocurrency payments are already accepted by businesses like Tesla and Microsoft. But 5 years ago, that wasn’t the case.”Check Out: Self-Made Millionaires Suggest 5 Stocks You Should Never SellOne of the biggest pitfalls for new investors is treating crypto like a get-rich-quick scheme. Chasing fast returns often leads to big losses.“I used to make quick and dumb decisions, and because of this mindset, I always invested money I couldn’t afford to lose just to make quick gains,” said Chowdhury. “But now, my strategy is to dollar-cost average well-known coins like ethereum and bitcoin. I only invest in things that I’m sure I can ignore for years.”This mindset shift can help you avoid repeating mistakes that can cost you down the road.Discover Next: Warren Buffett’s Berkshire Hathaway Bought Over $73 Million in Shares of This Tech Company — Here’s WhyIt’s easy to call crypto risky, but history shows that no market is immune to downturns. The stock market slumped in 2022, and the housing market collapsed in 2008.“In 2022, my stock portfolio suffered. In 2008, the real estate market crashed. Meaning there are risks associated with every investment. At least cryptocurrency doesn’t rely on the decisions of any one government and runs around the clock,” Chowdhury said.Crypto adoption is growing faster. “Every year, more people use cryptocurrency. Bitcoin became legal tender in El Salvador. Crypto services are now provided by major banks. This will not go away.” This growing acceptance is hard to ignore.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,851.97 +11.77 (+0.17%)Dow 3047,336.68 -226.19 (-0.48%)Nasdaq23,834.72 +109.77 (+0.46%)Russell 20002,471.24 -8.14 (-0.33%)VIX17.17 -0.27 (-1.55%)Gold4,003.00 -11.00 (-0.27%)PortfolioSign in to access your portfolioSign inTop gainersCIFR Cipher Mining Inc. 22.76 +4.11 (+22.04%)AMKR Amkor Technology, Inc. 37.84 +5.56 (+17.22%)LUMN Lumen Technologies, Inc. 11.83 +1.55 (+15.08%)IDXX IDEXX Laboratories, Inc. 722.94 +93.43 (+14.84%)FRPT Freshpet, Inc. 56.25 +7.04 (+14.31%)Top losersQURE uniQure N.V. 34.29 -33.40 (-49.34%)RGC Regencell Bioscience Holdings Limited 13.56 -3.09 (-18.56%)KMB Kimberly-Clark Corporation 102.27 -17.44 (-14.57%)UUUU Energy Fuels Inc. 17.80 -2.71 (-13.21%)QS QuantumScape Corporation 16.21 -2.23 (-12.09%)Most activeKVUE Kenvue Inc. 16.14 +1.77 (+12.32%)NVDA NVIDIA Corporation 206.88 +4.39 (+2.17%)CIFR Cipher Mining Inc. 22.76 +4.11 (+22.04%)PFE Pfizer Inc. 24.66 +0.01 (+0.04%)ONDS Ondas Holdings Inc. 6.15 -0.29 (-4.50%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersPLTR Palantir Technologies Inc. 207.18 +6.71 (+3.35%)HIMS Hims & Hers Health, Inc. 44.39 -1.07 (-2.35%)BTC-USD Bitcoin USD 106,531.71 -3,757.65 (-3.41%)KMB Kimberly-Clark Corporation 102.27 -17.44 (-14.57%)NVTS Navitas Semiconductor Corporation 12.25 -1.21 (-8.99%)Top economic events