Dogecoin Creator Offers Key Crypto Investing Advice

Billy Markus, creator of popular meme cryptocurrency Dogecoin, shared his number one rule for investing in digital assets: never risk more money than you could stand to lose completely.

In a recent thread, Markus warned that crypto should be treated like Vegas. Invest only what you're willing to gamble away, just as if it could literally burn up in a fire.

Beyond that core advice, Markus named his favorite crypto tokens. Unsurprisingly, he singled out top coins Bitcoin and Ethereum. And despite creating Dogecoin as a joke, he still views it fondly, calling it "Bitcoin in a dog suit."

Markus was less enthusiastic about Ethereum-based assets known as ERC-20 tokens, which he does not personally invest in.

The comments provide sober wisdom for newcomers lured in by promises of quick wealth. While cryptos like Dogecoin can produce big rewards, they remain highly volatile assets with considerable downside risk.

By only wagering funds one can afford to lose, investors can enjoy the market's upside while limiting their exposure. That balanced perspective has been notably lacking during much of crypto's carefree rise.

Of course, with currencies like Dogecoin down 8% , perhaps a more cautious mentality is finally setting in. Only time will tell whether traders take Markus' advice to heart or repeat past excess when the bulls return.