With cryptocurrencies such as Bitcoin rising in popularity, and dominating almost every headline across the country, a local company has come to the aid of the thousands of Chattanooga residents looking to capitalize on their investments.
Chattacrypto is Chattanooga’s newest investment company, and it focuses strictly on one investment type—cryptocurrencies. The company aims to help its clients invest in the new market, by providing guidance and expertise in the rather unchartered waters.
While Bitcoin may dominate headlines, there are tons of other cryptocurrencies worth investing in. Andy Peters, owner of Chattacrypto, wants to help his clientele diversify their portfolios by adding cryptocurrencies, other than Bitcoin, into the mix. Depending on the risk level and rate of Return on Investment, cryptocurrencies are the perfect accessories to any modern and well-rounded investment portfolio, Chattacrypto claims.
According to Peters, investing in cryptocurrency can be dangerous, even if you know what you’re doing. There are tons of “coins” that exist that are basically created to take money from investors. These coins are known in the industry as “crap coins.” It’s investments into such coins that can cost the investor a lot of money if they don’t know what they’re doing.
Peters started a meet up to help cryptoenthusiasts come together, share knowledge and discuss the cryptomarket. Sharing knowledge not only allows people to make better investments, but helps its attendees learn more about the current market.
Peters’ clients come from a diverse background. From entrepreneurs, to hobby investors, Peters says they’re no specific “type” that his services attract. His clients have also had varied luck with the cryptomarkets, with some making money and some coming to him after losing some. As such, Peters’ doesn’t deny the high risk nature of the new and potentially volatile market.
Jay Clayton, the SEC Chairman, has also gone on record to state his concerns over the growing crypto craze. Largely due to the fact that there is no protection available to investors, investing in cryptocurrency can be a dangerous endeavor.
Despite the risks, repeated warnings, and prior knowledge of the concerns surrounding cryptocurrency, people are still lining up to invest. Many investors see the high risk stocks as having an acceptable risk level when taking into account the chance of a large scale payoff in the short-term. Many investors don’t see cryptocurrency as a long term investment and deem it more of a move-in and sell quick investment strategy.
Chattacrypto customers are praising the service saying that they’ve seen great momentum in their investments and plan on continuing to invest in the relatively unregulated stock. While many admit that it can be a rollercoaster of emotions when you invest in cryptocurrency, they also believe that’s what’s part of the fun; that only crypto stocks can offer their investors.
For more information on cryptocurrencies and investing with Chattacrytpo, investors are asked to visit the company’s website directly. For more information on the SEC’s warning about cryptocurrencies, the public is asked to visit the SEC website directly.
