Wallet hacking is a persistent threat among platforms that host crypto and NFTs. Zane has come close to losing it all. The same with crypto.” First comes crypto, then come hackersĭramatic price fluctuations are not the only problem. “But like I said, I haven’t really looked in a while. “From time to time I take a look,” he said. Zane remains optimistic on the stock market, despite its current woes. He and his partner have life-insurance policies each worth $250,000. He is also dollar-cost averaging - investing a fixed dollar amount on a monthly basis - with Vanguard’s S&P 500 ETFĪnd Vanguard’s Total Stock Market Index Fund ETF “When he’s 18, he will hopefully have no debts for college if he chooses to go,” he said. He puts $500 a month into a Roth IRA, and has a 529 plan for his son. He has a high risk tolerance for making a fast buck, but Zane also believes in the long game of compound investing. ![]() Of course, crypto has been on a downward slide in recent days. ![]() Out of that original $60,000 investment, he now has $120,000 in total, he told MarketWatch earlier this month. Today, he holds about $50,000 in crypto and bought $70,000 in NFTs - with earlier profits made on his crypto-portfolio money.Īfter years of highs and lows, Zane has - more or less - doubled his money. “There have been tons of ups and downs in 2022,” he said.Īnd so he started dabbling in NFTs last September, buying digital art and other collectibles. That was before the current crypto crisis. That $60,000 went all the way up to $150,000 in 2021 when Bitcoin I eventually invested about $60,000 in total. “Do I cash out now and be done with crypto because it’s been a rough two or three years, or keep going?” he said. Zane found himself at a virtual crossroads. “In 2019, it went up to $12,000, then at some time in 2020 when it was at $19,000 to $20,000, I jumped into my portfolio and sold off all the alternative coins. “That original $25,000 investment was sitting at $6,000 for the majority of those two years,” Zane added. ‘ ” - Vinny Zane on the early, rocky days of his crypto investing Over the last two years, I have had a huge loss. I’ll leave it there maybe it will come back up. After about two weeks, I was basically even. I’ll leave it there maybe it will come back up.’ Over the last two years, I have had a huge loss.” “After about two weeks, I was basically even. “It was dropping by $7,000 to $8,000 a day,” Zane said. He has, after all, already watched his investments implode in 2018. ![]() 1 digital asset was last trading below $20,000, down more than 70% from its peak of around $65,000.Īs investors reevaluate their investments in risky assets with talk of recession growing louder and the stock market heading for another week of red, Zane is holding firm. Cryptocurrencies were heading for more dramatic losses over the weekend. Like many other crypto enthusiasts, he is feeling his way through the latest slump in digital currencies, a bear market wrought deep by red-hot inflation, interest-rate hikes and geopolitical uncertainty. ![]() Cryptocurrency is still the Wild West of investing with multi-million-dollar hacks, which in some cases Zane has managed to dodge by the skin of his teeth. Zane experienced his first crypto bear market in 2018 when the Securities and Exchange Commission made noises about regulating the space, and he has had a wild, crazy ride ever since. I’ve no idea what I’m buying, but I’m going to keep buying.’ My $25,000 ballooned to $63,000 super-fast. I started FOMO-ing into all these little coins, and everything was doing well at the time. “We’re still fairly new in the cryptocurrency space even though it’s been around for over a decade. “It was a learning curve for me,” he told MarketWatch.
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