Latest on ATNET:

#crypto-fundamentals #crypto-trading-strategy
#crypto-fundamentals #masternodes
Web3  · 05/17/22

Hiring A Crypto Advisor: Is it worth it?

05/19/22 · Reports
Altcoin Trading Blog
Glossary entries for this post
crypto-trading-technique
stablecoins
crypto-technical-analysis
crypto-trading-technique
Browse The Most Searched-For Topics
hub
dca
Key points
 
Localcryptos non-custodial p2p market

Managing your crypto investments is something you might be already doing on your own. Some people even assume that hiring a crypto advisor is unnecessary and is only an added expense. The truth is that it depends. It may be far from true.

This article will discuss how hiring a crypto consultant can be one of the best ways to manage your investments and can set yourself up for a potentially better financial future. This is true especially in times when you want to focus on other areas of business or of life in general.

With that in mind, here are some of the advantages of hiring a crypto expert as well as its disadvantages.

Pros of working with a crypto advisor

  1. Expert Advice

    One obvious benefit of using the services of a crypto advisor is that they can give you expert advice. This is especially important if you don't know much about cryptocurrency, or if you don’t know a lot about a certain area of crypto investing such as DeFi staking or NFT trading.

    Crypto experts make a career of customizing and managing different kinds of digital assets to meet your risk appetite and focus.

  2. Assistance In Diversifying Your Portfolio

    One of the most important benefits of hiring a crypto advisor is portfolio diversification. Diversifying your portfolio allows you to hedge against risk and earn better returns over time.

    However, it is extremely time consuming to go through all the cryptoassets available out there to decide in which to invest.

    A cryptocurrency expert can help you determine the right level of diversification for your portfolio and help you reach your investment goals.

  3. Relevant Strategic Information

    Another advantage of having a crypto consultant on your side is that he will keep you informed about changes in your investment assets, especially when there's a problem.

    Part of the job of any financial advisor is to continually analyze the current status of their client's assets and develop strategies to help them achieve their goals.

    A good advisor should provide you with suggestions based on strategies and tactics that will be clearly explained to you. They also should keep in touch with you throughout the process.

  4. Professional Monitoring Of Digital Assets

    Another noteworthy benefit is that you get a fresh pair of eyes of someone you can professionally trust.

    One of the challenges that many investors have is controlling their emotions, which can happen even to veteran crypto investors.

    By giving the trust to a professional consultant, you limit the possibility of selling your crypto assets hastily once the market fluctuates. And they can prevent you from making other mistakes that you might regret later on.

What you’re missing when not working with a crypto advisor

  • No One To Give You Professional Advice

    If you don't hire a crypto advisor, no one will give you expert advice.

    Most regular people don't know anything about cryptocurrency or how to get started with this new venture. But even experienced investors often do not have enough hours in the day to collect all the information in order to make a decision.

  • You Won't Be Able To Enjoy Some Peace Of Mind

    Diving into cryptocurrency requires an amount of dedication that is proportionate to the potential returns.

    Not having an experienced crypto advisor on your side can make you constantly stressed out, especially if you don't know much about the area of the crypto industry that you are venturing into.

    If you want peace of mind with your crypto assets, hiring an expert to consult your investments can help.

  • If you’re not a strategist, then you’ll probably lack a clear plan

    An advisor's ability to communicate is essential to building strong client relationships.

    Clients often value focused conversations that address their goals and priorities, as opposed to general tactics that may be too technical for them. A good advisor should be able to convey to the prospect that they are on the same page and can help them achieve their goals.

What you should know before you hire a consultant

Look for someone who is legally bound to put their client's interests before their own. If you can find someone who is fee-only (i.e., you pay for their services directly) instead of commission-based, the pricing structure becomes more transparent. On the other hand, since they do not make money via a commission, your profitability is not necessarily their motivation.

Furthermore, you can choose a crypto consultant who is part of a well-respected financial firm or who has a team behind them. It doesn’t have to be a big legacy finance corporation, in fact businesses native to the crypto community tend to understand the industry better. The crucial aspect is reputation, much like with smaller-scale service providers such as bounty managers.

And although cryptocurrencies are still on the cusp of regulation, it's a bonus when you get an advisor who's also a certified public accountant or has extensive knowledge in the taxation of your region. In this way, they can help you stay on top of what is the most cost-effective way of holding or trading crypto in terms of taxes.

Last but not least, if you hire a crypto advisor, you should expect prompt responses and clear communication. However, it's worth asking if you can expect them to respond promptly to your messages. If not, you may want to find someone else. A good consultant is probably very busy, but you should be able to expect a prompt response from them.

Bottom Line

The bottom line is that it's always up to you whether or not you should hire a crypto advisor.

If you do, gather as much information as you can about the person or company by checking out their website, their social media pages, and reviews from crypto or finance outlets.

Latest Airdrops & Bounties (Updates Mo + Thu nights)

airdrop Bitforex 🍕 Pizza Day Airdrop - 22nd May is the Bitcoin Pizza day!🍕 This year, we won't b...
airdrop Technoland Airdrop - The pool is 5000 USD in $TCH tokens for a Gleam form. Tok...
airdrop Armaldia Airdrop - Lucky winners get rewards from a Gleam form. The total of...
airdrop Indigo protocol second airdrop round - Total of 175 000 INDY tokens is earmarked to be allocated...
bounty X Meta Fans Bounty (BSC BEP20) - Long running marketing bounty with 75k USD pool. Facebook...
bounty WhisperMSG Escrowed Bounty - 50k USD pool in $VOLR with escrow. Shilling on YouTube, T...
bounty UnitedCrowd (BSC) Bounty - 50k USD pool of tokens mostly for Bitcointalk (Twitter ge...
exchange promo Bitforex (all get paid) win 1 BTC by trading 10 USD of BTC - 🍕 22 May - 29 May
exchange promo Phemex Deposit Dazzle (up to 4500 USD, everyone gets paid) - until 1 Jun
exchange promo Phemex Coin Flip Game with Rewards - live
exchange promo Kine DEX fee exclusive fee discount on ETH, SHIB and more - code 0B4D73C1
exchange promo LocalCryptos Win 250 USD Amazon gift card - live

Disclosure: All products featured on AltcoinTrading.NET are independently chosen, but some of the links on this page are affiliate links. Read our full content disclosure to learn more.