Editorial Team

Editorial Team

So You Want to Invest in Crypto? Here's a Step-By-Step Guide

By the amount of media coverage of cryptocurrencies and blockchain, you could be forgiven in thinking everyone is invested in crypto. But you would be wrong. It's still very much a niche activity, but that is changing fast. It seems likely that crypto will become a mainstream investment asset over time in some form or another.

While there is a general consensus that blockchain is a critical technology for the future with an incredibly broad potential application, the most energy seems to be spent on commentary and analysis of its use as an investment. Opinions run strong on this and especially this year where we have seen incredible volatility in Bitcoin, Dogecoin and others.

We recognize that it's hard to get investment professionals to agree on any particular asset class, allocation, investment strategy or individual holding. For every article written in support, there are just as many attacking that point of view and providing an alternative. This is especially true of cryptocurrencies so you need to accept that the extreme volatility we have experienced may well continue and that there is potential for gains and losses so buyer beware. Only invest what you are comfortable with for what is considered a high risk investment.

When you are ready to dip your toe in the water with Crypto (our minimum order value is around $2 but varies by coin), here is a quick how to do it with Unifimoney.

Step 1 - Open the app and navigate to Invest

Step 2 - Tap Crypto at the top

Step 3 - You will see a long list of over 30 cryptocurrencies to trade. However, according to Time, the top 5 most popular as at June 2021 are:

  • Bitcoin
  • Ethereum
  • XRP
  • Tether
  • Cardano

Once you have decided what to invest in, select the currency.

Step 4 - Press Buy and choose Buy Once or Recurring — you can trade up to the cash amount in your High-Yield Checking account

Step 5 - Enter the amount in $ you want to purchase and follow the prompts to complete your purchase.

You can follow the value of your portfolio in the app.  When it's time to sell, you select the coin from your portfolio and do the same in reverse.

Proceeds are returned to your Unifimoney High-Yield account.

It’s that simple.

*Important information and disclaimers

The above does NOT constitute an offer, solicitation of an offer, nor advice to buy or sell specific securities. The opinions listed above are not the opinions of Unifimoney Inc. or Unifimoney RIA, Inc. but represent the opinions of independent contributors. These contributors may or may not hold positions in the stocks discussed. Investors should always independently research any stocks listed and form their own opinions, while recognizing that any investments made may lose value, are not bank guaranteed and are not FDIC insured.