Crypto update

I am still running the crypto experiment. I have invested only ugx 3m in crypto at this point. The prices have rebounded and my portfolio has gone up by 9%. The prices are too volatile and tomorrow my portfolio could be down by 50%. So this investment is not for everyone. You must be willing to lose all the money you put in.

Bitcoin is still the market leader and its price movements are closely followed by the other coins. There are thousands of coins out there. So it is very easy to pick the wrong one and lose all your money. The best bet is to have a diversified portfolio with the large cap coins like Bitcoin and Ethereum and a few small coins to improve your odds.

The smaller coins like dodge are cheaply priced though they can go to zero overnight.

A crypto portfolio should be part of your large investment portfolio which should have some less risky assets like land, Tbills, rentals, business, etc.

Betting big on crypto is very risky though it can make you very rich. So be careful out there and enjoy the ride.

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