In the past year, the value of Bitcoin has risen sharply, and now several well-known investors are turning to cryptocurrencies. Mads Faste Liang Nilsen (37) can bring high returns, but it is not recommended for small inexperienced depositors.
Nielsen said to E24:-When I was exposed to cryptocurrency in 2017, I became very interested and spent some time reading about democratization of the economy and the technology behind it.
The Drammen resident’s cryptocurrency-based investment portfolio has experienced decent growth, but large volatility can also be reported-so far in 2021, his investment in cryptocurrency has tripled.
At the same time, his investment in stock funds has increased by nearly 10%. Avid savers divide their available funds equally between cryptocurrencies and mutual funds, which means that the share of digital currencies is much higher than suggested.
-I don’t recommend this to 66-year-old mothers. He explained that you must tolerate fluctuations and have a long-term perspective.
In addition, he emphasized that he has invested most of his funds in his own company and housing, and he has never invested more than the possible losses in cryptocurrency.
Like cryptocurrencies, the difference between digital currencies and traditional currencies is that no government or central bank can control-prices are completely controlled by the relationship between supply and demand. According to the BBC It is this decentralization and belief in the technology behind the so-called blockchain that attracts new investors.
He said that trading cryptocurrency itself is easy, but you are responsible for storing data securely and avoiding hackers. At the same time, I found that I was a terrible “trader” and had to make long-term investments-in this sense, traditional savings are easier, cryptocurrency enthusiasts said.
Nielsen further said that he believes that the emergence of cryptocurrency is a major innovation adapted to the Internet in his era, so he has a long-term vision. The reason is that he has confidence in the technology behind the digital currency.
At the same time, he warned other small depositors not to pursue quick returns.
-Nielsen explained that increasing risks can increase profits, but cryptocurrencies require more investors as investors-from both digital expertise and tolerance to volatility.
The tech enthusiast further stated that he reinvested part of the cryptocurrency’s profits in equity funds as a hedge, and warned not to invest too much in statements and newspaper headlines.
-Drammen residents said that there are many opinions and misunderstandings in the market, so cryptocurrencies can be regarded as demanding requirements.
Although one person can achieve huge positive results in a short period of time, Nielsen made the following suggestions:
-Investment risks and expenses are at your own risk. There is a plan not to pull up your credit card to invest in cryptocurrency-he warns to see a bigger picture.
More and more Norwegians are investing in cryptocurrencies, the most prominent of which is Bitcoin.