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Have you ever played the stock market?

I haven't I always thought it was for rich bastards 🤭
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Ynotisay · M
No no. It's for everyone. And it's something you may want to look in to if you haven't already.
Lilymoon · F
@Ynotisay Yeah I think you need some knowledge before trying it out
Ynotisay · M
@Lilymoon Not as much as you may think. What some do when they first get involved is to look towards "blue chip" stocks. They're well-established, profitable companies so the risk isn't as high. The reward typically isn't as high either but it's a safer "bet." That's why they're typically included in a lot of company's 401K's. Or you can do some research, find some companies you like that are doing something you get behind, and invest just a little. You can do it with 10 bucks. Just need to open an online trading account. There's a lot of them out there. Crypto is another option but there's more risk/reward there.
Lilymoon · F
@Ynotisay Not familiar with Crypto but that's def interesting
Ynotisay · M
@Lilymoon Crypto is a bit of a different animal. A lot of people invest in the short term, and get in and out fast, (like day by day) and others buy and hold for the long term. The bet there is that crypto will grow and become more integrated. And you REALLY need to know about the project you're investing in. Very risky otherwise because it'll all still so new. But the returns can be crazy. The one I'm in has jumped 30% in a week. But that's coming after 'crypto winter' where it dropped about 75%. You very rarely see volatility like that in the traditional stock market. If I were new to investing I'll look at the stock market for security but toss it a little in to crypto as a longshot bet.
Lilymoon · F
@Ynotisay 👍