Bitcoin (BTC-USD) has been gaining momentum in the days leading up to the Bitcoin 2024 conference in Nashville, Tennessee, where former President Donald Trump and Robert F. Kennedy, Jr. will give speeches.
Macanomics Founder and Yahoo Finance Contributor Ross Mac Joins Wealth! to explain the basics of crypto investing and what investors new to the space need to know.
Mac suggests starting with the ETFs related to crypto before owning the asset itself, such as the spot bitcoin and spot ether ETF products approved by the Securities and Exchange Commission (SEC).
/"You don't have to be technologically advanced, and it will also be less volatile. However, there are some downsides: one is that you don't actually own the underlying crypto. And if you own the underlying crypto, you've seen the returns are even better so far,” Mac explains. “And another thing is their fees, right? There are fees associated with the management companies that own the crypto for you and buy feet wet, maybe you can start with ETFs. But at some point I would like that person to actually buys underlying crypto./"
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