ON THE MONEY Investing in Cryptocurrency

INVESTING IN CRYPTOCURRENCY

What you need to know about this industry disruptor.

BY JENNY HOFF

Cryptocurrencies are block-chain-based digital technology that theoretically you could use to make purchases, although few places currently accept them as a form of payment. However, at the time of this writing, Bitcoin, the original cryptocurrency that came out more than 10 years ago, has reached an all-time high, surpassing $40,000 per coin. Its most recent bump came after Elon Musk, who recently moved his foundation to Austin, announced he invested $1.5 billion in the digital currency and in the How to buy cryptocurrencies If you’re looking to invest in Bitcoin or another cryptocurrency, it’s not as easy as buying it through E-Trade. You’ll have to download a Bitcoin “wallet” through a secure app, ensuring your bank will allow you to make the purchase via your debit card or linked checking account. You may need to provide identification. Once you buy the currency, you’ll need to store the code generated for you in a secure location. If you lose it, you lose all access to your coins and whatever value they may gain. near future Tesla would accept it as a form of payment. To invest or not to invest? To put the growth of this industry disruptor into perspective, just over three years ago, one coin cost less than $1,000. “” Cryptocurrencies Currently there are many coins to choose from, ranging in price from less than a penny for a coin to tens of thousands of dollars per unit. Knowing which ones to buy takes research and time, but Even for wary investors, it’s hard to ignore growth like this, regardless swing wildly, Evans says it’s wise to start with the original disruptors. of if they’re unsure what these coins represent and if they’ll be around in a easily going Before moving on to more obscure and cheaper coins, “my advice to people getting into the market is year or two. There are many first-time investors wanting to reap some of the up or down by to look at Bitcoin and Ethereum to start with,” says Evans. potential profits, whether it’s buying a fraction of a Bitcoin or investing in thousands of While it definitely feels like a bubble with such enormous growth in a short amount of time, there cheaper cryptocurrencies. However, unlike more stable investments, dollars in a is future potential for digital currencies to become more mainstream. There is also technology behind cryptocurrencies swing wildly, easily going up or down by thousands of matter of days. them that can be used for other purposes. As of now, their worth is dependent on what people are dollars in a matter of days. willing to pay for them. If you believe Elon Musk’s

“Whenever you’re investing in move is the beginning of a new trend, it might be something, you don’t want to put in any amount of money worth putting some money in the game. However, if you’re not willing to lose,” says Inc. 500 entrepreneur and you can’t see a future where cryptocurrencies stick around, you investor Brian Evans. “There is always a risk element. That’s may be better off investing in an index fund, real estate or gold— just the reality. But in this growing market, what’s happening investments that have a proven track record of steady growth and now is a lot of things are going up.” maintaining value.

17TH ANNUAL AUSTIN HUMANE SOCIETY CAR RAFFLE WITH ROGER BEASLEY MAZDA

At Roger Beasley Mazda, we are proud to support our community. One of our favorite organizations to partner with is the Austin Humane Society. They have been serving the Austin community since 1952 and are the longest standing no-kill shelter in the city.

Since launching in 2004, Roger Beasley Mazda has donated a vehicle to AHS for their annual car raffle each year. Over the past 17 years, the raffle has generated more than 1.3 million dollars to help animals in need. Each ticket provides one night of shelter, food and medical care for a dog or cat waiting to find a home.

This year’s raffle car is a 2020 MX-5 Miata RF Club Convertible (MSRP $34,000). With a power hardtop that drops in 13 seconds, this car is perfect for cruising around Austin with the top down. Whether you’re navigating the streets of downtown Austin, enjoying a weekend drive through the Hill Country or just making the daily commute, the MX-5 offers an unparalleled dynamic driving experience.

Ready to win a new convertible? Tickets are $20 each or three for $50, and 100% of the proceeds go to the Austin Humane Society. The raffle is only open to Texas residents who are 18 years or older. Visit austinhumanesociety.org for more information and to get your tickets today.

The drawing will be held virtually on Saturday, April 17, 2021. Get your tickets soon. Only 5,000 total will be sold! Good luck!