Cryptocurrency its popularity , as has its widespread promotion on social media , she suggests .
A sense of belonging Peter Komolafe , financial adviser and founder of Conversation of Money , says another important part of cryptocurrencies ’ appeal is the excitement around the blockchain , the technology underpinning the asset class . Crypto investor James , aged 55 , says this is certainly the case for him . A freelancer working in the travel sector , he has a modest income , two dormant workplace pensions , and a little in cash savings . The rest of his money is in Bitcoin and Ethereum , with a smaller amount in altcoins ( non-Bitcoin and Ethereum cryptocurrencies ) including Dogecoin . Some of the altcoins he previously owned have disappeared from the marketplace . James has a cold storage wallet to protect his cryptoassets from hackers , and repeats his password to himself every week . Having worked in the web industry for 20 years , he feels he understands the technology behind cryptocurrencies . He likes their decentralised nature and the feeling that he owns his own data : “ It ’ s not just about making money , it ’ s also the whole idea of blockchain technology and how you can use it . It ’ s almost like a tribe I belong to .” James spends a lot of time watching blogs and listening to experts in the field . He says there ’ s lots of rubbish out there , and he only pays attention to programmers and developers . He adds that his knowledge of cryptocurrencies explains why the recent volatility hasn ’ t put him off the asset class : “ I couldn ’ t be happier , and I would love it to go lower because it gives me an opportunity to buy more .” James also points out he doesn ’ t borrow money to invest , and always pays the bills first , so while it wouldn ’ t be a pleasant experience if he lost everything tomorrow , it wouldn ’ t be catastrophic .
“ Completely confident ” James considers himself a long-term cryptocurrency investor , but he does plan to take profits once his holdings
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