225. How To Approach Cryptocurrency

225. How To Approach Cryptocurrency

Many people are investing these days. Thanks to technology, investment options and information are so much more abundant and accessible than ever before.

A popular investment option is “cryptocurrency,” such as bitcoin and dodge coin. From my research, investing in it is similar to investing in commodities such as gold that fluctuate in price. But it is more speculative as its digital value is hard to quantify in real life. So investing in it may not be wrong in and of itself, but there is a great danger we need to be aware of. And that is “greed.”

Greed is difficult to see in us but easy to see in others. We might call it “investment,” but others can see that we are approaching it as “gambling.” Putting money into something and hoping it to make a huge jump to cash out big money is not only unlikely but could be a sign that the heart is gripped by greed unknowingly.

Jesus said our heart will be where our treasure is. (Matthew 6:21) Investing is necessary if we want to be prepared for retirement and not lose money. (through inflation) However, the desire to get rich “quick” almost always opens the door for greed to take hold of our lives, resulting in anxiousness, fear, and anger.

So, here is some guideline that can help protect our hearts from the control of greed while investing.

First, give first before investing. Apostle Paul said if the first fruit is holy, the rest is holy as well. (Romans 11:16) What became holy is protected from corruption. As we give to God first, we protect our hearts from idolatry and recognize God as our ultimate provider, not our wealth. Then greed loses its corruptive grip on us.

Second, invite the Holy Spirit to invest together with you. God is not against us making money. But if money has the potential to win our hearts, we should seek the Holy Spirit to guide our investment decisions and ask for his help in protecting our hearts. He cares not only for our soul but our financial future.

Thirdly, try to stay away from “speculative” investments that promise quick profit. They only cause our hearts much trouble and leave us vulnerable to temptations. (1 Timothy 6:9) Instead, expect to gain a reasonable profit from investments over a long time while working diligently to serve more people.