when I hear bitcoin, I think unregulated, pump and dump, sketchy. While the swings are not as wild and frequent as they used to be, there was still quite a bit of a swing recently.
I hope Jerami and others aren't being conned - especially fee'd to death that wipes out any portfolio accumulated.
I hear what you're saying. Well, not too worried about losing free money but, I think of them like I'd think of any speculative market. I worry about them as much as I worry about my free Robinhood stocks, which I sold when they were higher than their original price. The thing about cryptocurrency is that there are very few fees associated, though price fluctuations are definitely something to be aware of. There are "stable-coins" that don't fluctuate(well they do but, only because the backing currency fluctuates) like the USD Coin
https://www.coinbase.com/price/usdc.
But, for people who feel that they could be conned, for whatever reason, I suggest taking the free money, cashing out immediately, then closing the account. Same exact advice I give when I want someone who is wary of speculative markets to get their free stocks from Robinhood.
Do the thing they ask to get the thing that's worth money. Trade said thing for money immediately. Spend money. Keep it simple, I say.
EDIT I don't use this as an investment strategy. I used it to take the free money they offered. I'll be cashing it out and spending it. I don't have enough money to let it sit there and gain or lose. Not really into investing, at this stage in my life.