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What do I need to know about investing in cryptocurrency?

Source: Gerd Altmann from Pixabay

Should you be investing your hard-earned cash in intangible coins? Financial adviser Romulae Gadaoni shares what you need to know about cryptocurrency before you decide to take the plunge.

'May PERAan' is SBS Filipino's new podcast series which features financial experts seeking to answer the most common questions about money and finances.


"Cryptocurrency has currently become really popular amongst investors. It could potentially be the currency of the future."

Romulae Gadaoni shares why, popularity aside, cryptocurrency may or may not be the perfect investment for you.


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Paano ako magsisimulang mag-invest sa cryptocurrency?
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  • Cryptocurrency is a digital asset and is therefore, intangible.
  • Study and do your research before investing.
  • Opt for long-term rather than short-term when investing. 

What is cryptocurrency?

According to Romulae, "Cryptocurrency is a digital asset. It's virtual currency. It's money you can't see or physically touch. Based on blockchain technology, it is independent. There is no middle man and no central bank."

What you need to do before investing

  • Know where you'll be getting your investment money.

"Will you have an emergency fund left? How long are you planning to keep that money in your investment?," Romulae asks, adding, "In any kind of investment, there is always a risk. Stocks can go up or down. Are you getting anxiety when the value of your investment goes down?"

  • Study what you plan on investing on.

If you're going into cryptocurrency, decide on which platform you want to opt into.

While there are an infinite number of platforms available, Romulae shares that not all of them are genuine or high-performing.

"Some are fraudelent. Be careful about which you choose. Opt for the top four or top five platforms available to be on the safe side.

"Normally, investing in cryptocurrency is easy if you’re familiar with operating your bank or savings account online or through mobile apps."

  • Ask for advice.

You can ask for tips from experts and people who invest in cryptocurrency.

"Join online groups. People can share their mistakes and strategies; but also do your own research and strategise according to your own financial situation."

Opt for long-term

Romulae suggests that when you decide to invest, try to aim for long-term options.

"Normally, when you're a long-term investor, time is your best friend. You don’t need to be vigilant about checking your investment everyday. Think longterm – like 10, 20 years from now.

"Unlike other investments, cryptocurrency isn’t tangible. Its value goes up and down based on supply and demand. Make sure the money you put in is money you wont be needing in the next few months or years."

Because of its intangibility, cryptocurrency can be a risky investment.

"Don't put all your eggs in one basket - that is, diversify your investment portfolio. Protect your money by investing in different things - for example, cryptocurrency along with stocks and a small business."


Disclaimer: This article is for general information only. For specific financial advice, you should consider seeking independent legal, financial, taxation or other advice to check how the information here relates to your unique circumstances.

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