When it comes to investing in cryptocurrencies, I’ve taken a go-slow approach … as in, a glacial, watch-the-paint-dry-and-the-grass-grow pace. Because new tokens hit the market all the time, and Bob’s Bitcoin or Charlie’s Crypto can become overnight superstars merely because they’re available, it makes me leery about diving in.
For example, we all know that Dogecoin was created as a joke, but somehow, it’s up 4,300% in 2021 — even though its co-creator Jackson Palmer says cryptocurrencies have no value and generally hurt the average person who buys them.
Yet fear of missing out — aka FOMO — often causes people to rush into trades that end up hurting their finances, sometimes severely. The momentum in the cryptocurrency market, no matter which token in particular one is talking about, seems tailor-made to elicit such reactions.
I, on the other hand, am beset not by FOMO, but by FUD — fear, uncertainty, and doubt — when it comes to the long-term viability of digital currencies. All that said, though, there are a few cryptocurrencies that do have value and seem promising. These two look to have the greatest chances of handily outperforming for investors over the