I feel your pain, I have been investing or dabbled in (stocks, crypto, IRA, bonds) for the last 20 years or so and I feel crypto was a good investment years ago, but when they started splintering into other crypto (Lite coin, Etherum, Dogecoin and so on) it changed from a pure investment to a currency with very few ways to spend it without paying a fee, like the dollar and taxes. I have never made much profit (profit or gains is all we want with investments) with crypto the fees will eat up profits just by moving it around, unless you have millions to invest or you mined them long ago when it was cheap and had low or no fees. The best profits I ever made were from the stock market. No lie, I know stocks are an up and down game, but there is money to be made short selling, swing trading, holding long on stocks that pay dividends.
When I first invested in stocks it was a fundamental based market where value was based on how the company preformed in their particular market sector, based on quarters in the year. Now it is more of a speculative market based on what investors feel. (I feel this is based on younger investors not caring about the actual value of said investment or company) That is why there is wild speculation on crypto and the market in general. Most investors in crypto do not use it as currency they use it as leverage to borrow against for other investments, that’s how the big boys do it, you think Twitter or Tesla use their crypto to buy anything, no they use it to bank money tax free, they have no intention of selling. That’s the only advantage over traditional investments, tax free.
Now back to the simple man, I use Robinhood now, I was with Fidelity for 15 years before I jumped ship, why? fees. I use Robinhood like a bank account they give you a debit card, you can buy and sell stocks, crypto, some EFT’s with no fees and spend the money immediately. When I find a good buy, I set a goal of profit when I reach that goal I sell and move on, I keep long term investments like GE, Apple, Amazon and swing and short mostly bio stocks now with the pandemic.(Bio sectors are hot due to pandemic and everyone worried about their health).
Why invest in something you cannot sell or use as cash, why pay fees when it’s your money they charge you to use? Now one point to stress is you will pay capital gains tax on profits at the end of year, but you already pay taxes on every dollar you earn when you work so it’s nothing new.
One has to really look at why they want to invest in crypto and what they intend to do with it.
GameStop would be an example of ridiculous money to be made in the stock market based on emotional investing, the company is not worth what the stock price is right now, yet you could have been a millionaire playing that stock a while back, if you bought it cheap and sold high.
Sorry to ramble just my two cents on the topic.
