The safest cryptos and the risky april 2024 what to do to be rich

When it comes to cryptocurrencies, the concept of "safety" is relative and can change rapidly due to market volatility. As of April 2024, some of the cryptocurrencies considered to be safer investments include **Bitcoin (BTC)**, **Ethereum (ETH)**, and **Tether (USDT)**¹². These are well-established cryptocurrencies with large market capitalizations, which can potentially offer more stability compared to newer or less-known coins. Additionally, **Retik Finance (RETIK)**, **Shiba Inu (SHIB)**, and **Dogecoin (DOGE)** have been mentioned as suitable for beginners due to their simplicity and lower risk profile³.

However, investing in cryptocurrencies always carries risks. The crypto market is known for its volatility, and events like the expiration of Bitcoin and Ethereum options contracts can inject uncertainty into the market¹¹. The upcoming Bitcoin halving event in April is also expected to introduce heightened volatility and uncertainty¹².

As for strategies to potentially build wealth, diversification is key. This means spreading your investments across different asset classes, including stocks, bonds, real estate, and even cryptocurrencies, depending on your risk tolerance and financial goals⁷. Other strategies include focusing on growth over gains, utilizing tax-advantaged accounts like Roth IRAs, and starting your investments early⁷. It's also wise to consider building a financial team of professionals, such as CFPs, CPAs, and lawyers, to help manage and protect your wealth as it grows⁶.

Remember, there's no guaranteed way to become rich, especially in the short term. Wealth building typically requires time, patience, discipline, and a well-thought-out investment strategy. It's important to only invest what you can afford to lose and to seek professional financial advice tailored to your specific situation.

Källa: Konversation med Bing, 2024-04-18

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(2) Top 10 Cryptocurrencies In April 2024 – Forbes Advisor UK. https://www.forbes.com/uk/advisor/investing/cryptocurrency/top-10-cryptocurrencies-april-2024/.

(3) Top 3 Safest Cryptocurrencies For Any Beginner In 2024 - Analytics Insight. https://www.analyticsinsight.net/top-3-safest-cryptocurrencies-for-any-beginner-in-2024/.

(4) Volatility Ahead? Crypto Market Braces for $2.3 Billion $BTC and $ETH .... https://www.cryptoglobe.com/latest/2024/04/volatility-ahead-crypto-market-braces-for-2-3-billion-btc-and-eth-options-expiry/.

(5) Crypto Market Outlook for April 2024: Bitcoin Halving Sparks Excitement .... https://thecurrencyanalytics.com/marketmovers/crypto-market-outlook-for-april-2024-bitcoin-halving-sparks-excitement-solana-and-fantom-in-focus-106063.

(6) 7 Ways To Start Building Wealth Like the Rich in 2024. https://www.gobankingrates.com/money/wealth/7-ways-to-start-building-wealth-like-the-rich-in-2024/.

(7) 8 Strategies Rich People Are Using in 2024 — and How You Can, Too. https://finance.yahoo.com/news/8-strategies-rich-people-using-230022467.html.

(8) Best Cryptocurrency of April 2024 - Newsweek. https://www.newsweek.com/vault/investing/best-cryptocurrencies/.

(9) Top Investing Trends For 2024 – Forbes Advisor. https://www.forbes.com/advisor/investing/top-investing-trends-2024/.

(10) 8 Strategies Rich People Are Using in 2024 - GOBankingRates. https://www.gobankingrates.com/money/wealth/strategies-rich-people-are-using-in-2024/.

(11) April 2024 Crypto Market Forecast – Forbes Advisor. https://www.forbes.com/advisor/investing/cryptocurrency/crypto-market-outlook-forecast/.

(12) Crypto assets: Market structures and EU relevance. https://www.esma.europa.eu/sites/default/files/2024-04/ESMA50-524821-3153_risk_article_crypto_assets_market_structures_and_eu_relevance.pdf.

(13) Crypto Market Prediction 2024: Timeline for All Key Events. https://coinpedia.org/news/crypto-market-prediction-2024-a-breakdown-of-major-key-events/.