Dogecoin is blowing up. Invest with caution

SourceCNBC
SectorTechnology
CountryMiddle east

“As long as more companies take doge for products/services, then Doge can be a usable currency because it MAY hold its purchasing value better than a $ in your bank,” Cuban said in a May 2 tweet. “If interest rates skyrocket or the amount spent falls or stagnates, so will Doge. Yes, a joke is now legit.”Even amid the record rally, experts caution investors from jumping into dogecoin just to make money.

Cryptocurrencies are highly volatile, meaning that the current streak could reverse at any point.

Only invest what you’re willing to lose

Financial experts generally advise that people looking to invest in cryptocurrency allocate just a small amount of their portfolio. The U.K.’s Financial Conduct Authority has issued a similar warning.”Never invest anything you aren’t willing to lose,” said Ben Weiss, CEO and co-founder of CoinFlip, one of the largest bitcoin ATM companies in the U.S.”If you like Dogecoin and think it could be a viable currency in the future, or...read more...