[Josh Johnson – Ambassador]

I’ve been doing a lot of reading lately about the hype of cryptocurrencies (Bitcoin, Litecoin, etc.), and have to admit that I’m taking the leap and trying my hand at. I mean, why not, right?

Based on the growth of Bitcoin it looks like the industry is headed upward, and while I’m not ready to take the plunge and buy Bitcoin as each share of it is a bit out of my price range, I have bought a decent amount of Litecoin and am excited to see it grow over the coming months.

Anyone else trying their hand at this and/or have any tips for a newbie?!

[Lisa Talley]

Hi Josh. I’ve seen chatter about Bitcoin but I never heard of Litecoin. I don’t know much about this topic but I’m curious about your purchase “growing.” How does that work? Is it something you “invest” in way you might invest in gold or real estate?

[Antoinette Minor – Ambassador]

A friend of mine knew someone that got onto bitcoin when they were very cheap and now his bitcoins are worth thousands. I’m a little scared to try it myself but please keep us updated because I really am interested in how this world of currency plays out.

[Cara Reynolds – SUM180 Community Manager]

Hi Josh! Carla Dearing has written a couple of posts on investing. I think she makes a few points that are relevant to your thread:

Investing 101: 6 simple steps to kickstart your investment portfolio

Investing 101: 6 simple steps to kickstart your investment portfolio

Millennials: Experiencing Bitcoin FOMO? Don’t buy cryptocurrencies to try to get rich quick. Here’s what to do instead

Millennials: Experiencing Bitcoin FOMO? Don’t buy cryptocurrencies to try to get rich quick. Here’s what to do instead

The main takeaway, I think, is that high-risk investments like cryptocurrencies are intriguing, but they are only appropriate after 90% of one’s investment portfolio is in pretty solid shape.

I hope this helps!