How To Find a Financial Advisor Who Can Help You Invest In Crypto
Finding a financial advisor to work with is relatively easy, given that there are approximately 283,000 personal financial advisors in the U.S. But what if you’re looking for an advisor who can help you with a more specific asset class, like crypto? Then the search for the perfect financial advisor can get a little tricky.
Check Out: Grant Cardone: Here’s the Best Way To Start Investing in Real Estate With $5,000
Read Next: Pocket an Extra $400 a Month With This Simple Hack
Keep reading as we discuss some ways you can find a financial advisor who is knowledgeable and can help you invest in crypto.
Before Hiring an Advisor Understand Crypto Yourself
Over the past several years, crypto’s popularity has skyrocketed. Crypto millionaires have been made, and others have a bit of FOMO. They don’t want to sit on the sidelines and miss out on their opportunity. But before jumping into any investment, it’s crucial to understand what you’re investing in.
You must start by learning and understanding the basics. Understand blockchain technology and how it works. Get to know some of the key terms. Then, start familiarizing yourself with some of the cryptocurrencies that you’re interested in. Once you have a better understanding of the asset, you’ll be in a better position to actually invest your money. When investing, you never want to throw spaghetti at a wall and hope it sticks. There is too much at stake.
To help you narrow down the list of 283,000 financial advisors to find those that are knowledgeable about crypto, here are a few tips to follow.
Ask Around for Recommendations
Just like you might ask around for recommendations for other things in your life, finding the right financial advisor is no different. Talk to other investors in your circle who invest in crypto and see if they have any recommendations. Ask them about their experiences with the people they’ve worked with.
Additionally, if you interact with different online forums, use these to get recommendations from other members. Many of them have probably worked with someone in the past. You’ll just want to make sure you dig into the background of the people being recommended to make sure they’ll be a good fit.
Look for People With Certifications
Look for an advisor who is a Certified Digital Asset Advisor (CDAA) or a Certified Blockchain Expert. These individuals have completed extensive training and successfully passed an exam.
It’s also essential to look for advisors who regularly participate in continuing education. Because the crypto industry continues to evolve, the advisor’s education and knowledge base should also evolve.
Look for a Track Record of Success
As you begin talking to financial advisors, look for someone who has been doing this for a while. Crypto is highly volatile, and part of your advisor’s job is to navigate you through difficult times.
Learn More: I’m a Self-Made Millionaire: Here Are 5 Stocks I Won’t Sell
The advisors you speak with should be very transparent about their past success. They should want to offer up referrals to others they have helped guide to invest in crypto successfully.
More From GOBankingRates
Suze Orman: 5 Social Security Facts Every Soon-To-Be Retiree Must Know
The Biggest Mistake People Make With Their Tax Refund -- And How to Avoid It
This article originally appeared on GOBankingRates.com: How To Find a Financial Advisor Who Can Help You Invest In Crypto
