Bitcoin is still a buy – but I won’t touch Dogecoin

Of the rest, I like Dash, Monero and Neo, although I doubt they will ever achieve the returns of Bitcoin and Ethereum. Cardano and Stellar are two that I missed early on and they have rewarded their backers. Of course there have been failures too. Fortunately, my losses have been small and infrequent but one of the worst was Atlant.

And finally, remember that the process to buy and safely store crypto is still not straightforward. It involves registering with an exchange such as Coinbase or Kraken, transferring your money to them, buying coins and then transferring them from the exchange to your private external wallet. For the lesser-known coins the process can be even more complex. If the last few sentences sound confusing, my advice is don’t do it.

There are now several funds and ETFs that offer exposure to the market without the personal responsibility of managing dozens of different cryptos on your own. They’re probably the easiest way to dabble in the crypto world securely and tax-efficiently. However, because of regulatory caution you’ll need to use an overseas broker.

Matthew Morris is a director of a PR agency

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