New gTLDs and Bitcoins are changing the Internet investment landscape, like it or not, it’s happening. As I’ve said before many times, I see a ton of growth in .COM prices on the horizon but I also see some very solid opportunities with both new gTLDs and Bitcoin. Like most investments there is an element of risk and if you’re someone who likes to play it safe, just stick with .COM.
Okay, so I’m not someone who likes to play it safe. Throughout my life I’ve always been comfortable taking financial risks. I literally lost tens of thousands of dollars when I started in the domain investing world. Fast forward to three years after that I was making more with domains than at my full time job. Taking risks sometimes means losing money in the short term and if you don’t have money to lose, don’t take risks.
There are some big risks that come with investing in new gTLDs. Nobody knows what is going to happen but I think we all know that some will take-off, most won’t, and it probably will be only the most premium names that move. That being said there are without a doubt opportunities to turn a few hundred dollars into thousands or tens of thousands of dollars, and those are the opportunities I love.
Here’s the catch. You have to take a risk. If you have a big mortgage, rising bills, and very little in savings please don’t take this risk. If, on the other hand you have nice savings, good cashflow, and money left-over every single month it might be worth the risk. Don’t spend any money you aren’t prepared to lose, and if you are afraid to lose money like I said just stick to .COM and you’ll be safe.
The same is true for Bitcoin. Nobody can predict where the Bitcoin market is going, there’s a lot of risk involved, but some people are going to make a fortune. Once again, if you’re struggling to make ends meet please don’t put your life savings into Bitcoins. However if you have an extra $10,000 coming in every month that you normally throw into a money market account, maybe you can afford to take a risk and put 25% of that into Bitcoins.
Don’t forget. Back in the 90’s everyone thought that people buying domain names were wasting their money. Nobody got it, everyone thought domains would be worthless and a huge waste of money. Some people took big risks in the 90’s, we all know their names and we all know those risks changed their lives forever. Now it’s time to decide, are you willing to take a risk?