‘I’VE MADE MONEY WITH DOGECOIN!’

Closer’s Annabelle Lee discusses getting into crypto.

“For years I assumed investing was for people with a lot of cash. I’d heard about friends having stocks and shares, but as someone who struggles to set aside £50 a month, I thought it wasn’t for me and would roll my eyes when I heard about the thousands of pounds some people were making. Then recently, I set up a stocks and shares ISA for my two-year-old son, which made me think about how small deposits can turn into decent returns if you’re patient. I’d heard about Bitcoin but had never looked into crypto, until a few friends started talking about it last year. I watched some YouTube videos with advice for beginners and read some forums, then I put aside a little bit of money each month and invested it into crypto that was tipped to do well on Reddit. Now I have about £500 of crypto investments and have seen good returns already. Right now they are worth around £700, but that changes daily. I try not to look at how well the market is doing very often as you can get too caught up in it and my investments are for long-term savings anyway. That said, I did take a risk a couple of months ago when I heard Dogecoin, a cryptocurrency endorsed by Elon Musk, was about to explode in popularity, at least for the short term. I invested £100 and a week later withdrew £216! I wouldn’t advise people take that kind of risk unless they can afford to, but I was thrilled. I know I’ll never be an expert in crypto and I’ll never be investing thousands, but it’s nice to know my small investments can grow much quicker than if I just left it in a regular savings account.”