The Wealthtender Guide to

Crypto Financial Advisors

Should You Hire a Crypto Financial Advisor Specialist?

Do you own Bitcoin, Ethereum, or NFTs? A financial advisor specializing in cryptocurrencies and non-fungible tokens (NFTs) can help you make smarter money moves with these digital assets. You’ll likely find dozens of financial advisors in your community well-suited to help you reach your money goals with a personalized plan. But it may be more difficult to find a financial advisor comfortable working with people who invest in cryptocurrencies.

Fortunately, many financial advisors offer virtual services so you can meet online no matter where you (or they) live. This means you can choose to hire a financial advisor who lives hundreds of miles away if you decide their knowledge about cryptocurrencies could help you achieve better investing outcomes.

Use this guide to find financial advisors on Wealthtender who specialize in serving clients interested in cryptocurrencies and digital assets.

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What Questions should Crypto Investors Ask a Financial Advisor?

If you’re thinking about hiring a financial advisor to help you with cryptocurrency investing, it’s important to first understand their comfort level and experience with crypto and digital assets.

We asked Houston-based financial advisor and cryptocurrency specialist Ryan Firth what he suggests.

Ryan Firth

Mercer Street Financial

Q: What do you suggest investors consider if they are brand new to investing in cryptocurrencies?

Ryan: “What is your view on cryptocurrencies? Do you think cryptocurrencies should be a part of my portfolio? If so, what percentage? If not, why do you think I shouldn’t invest in cryptocurrencies? Do you invest in cryptocurrencies yourself? If so, which one(s)? How do you decide which projects to invest in? How long have you been following this space? How do you keep abreast of what’s happening in the cryptosphere?” 

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What Crypto Credentials Can Financial Advisors Earn?

You’ll find an increasing number of financial advisors pursuing specialized education to demonstrate their knowledge of cryptocurrencies, for example, the Certificate in Blockchain and Digital Assets (CBDA) and Certified Digital Asset Advisor (CDAA) designation.

The Certificate in Blockchain and Digital Assets (CBDA)

The Certificate in Blockchain and Digital Assets (CBDA) designation is designed by advisors to help financial professionals incorporate emerging blockchain and cryptocurrency assets into their practices. Famed financial advisor Ric Edelman has championed the notion of increasing industry knowledge in this new ecosystem. There is a desperate need for more education and understanding of cryptocurrencies and blockchain technology in the wealth management community.

The CBDA seeks to provide that added layer of expertise so clients can feel comfortable bringing their digital currency assets to a trusted wealth manager. (Learn more.)

The Certified Digital Asset Advisor (CDAA)?

A financial professional who has earned the Certified Digital Asset Advisor (CDAA) designation understands blockchain technology and cryptocurrencies like Bitcoin that are built on the blockchain. They know several valuation methods and theories around Bitcoin and digital assets. And they can help clients make more informed and educated decisions when deciding which cryptocurrencies to invest in, when to buy and sell, and the considerable risks of investing in this emerging asset class.

As crypto exchange-traded funds (ETFs), mutual funds, and related investment offerings come to market, a CDAA can help their clients understand how these products work. Finally, a CDAA advisor can perform due diligence on digital assets and investment opportunities with a keen eye and technical knowledge not commonly found today among financial advisors. (Learn more.)

Should I Hire a Crypto Financial Advisor Specialist? 

You should consider hiring a financial advisor who specializes in cryptocurrencies if you already own or are interested in owning significant digital assets like cryptocurrency. Advisors with crypto experience and knowledge can explain digital assets, crypto, blockchain, stablecoins, and decentralized finance (DeFi) and help you make more informed and educated investing choices.

How To Find The Best Crypto Financial Advisor For You

While there are more than 300,000 financial advisors in the US, only a small percentage of advisors have begun to incorporate cryptocurrencies into their practice. Use this guide and the related articles on Wealthtender to understand the questions to ask your current financial advisor or to help you find an advisor who can help you develop a personalized plan for your individual needs.

Reader Questions Answered:

Q: I am looking for advice when it comes to selling cryptocurrency. I have invested some money in cryptocurrency on the exchange Coinbase and the currency I’ve invested in is skyrocketing. It is not quite at the point where it’s made a difference yet, but I would like to be prepared on what to do if it gets to that point where I am dealing with a significant amount of money. Such as, how to sell without being hit with the highest fees and turning the crypto into USD before it comes volatile. Obviously, if it comes to that, I will be requiring financial assistance to plan and make the most out of my financial windfall. Any advice on what to do if it comes to that point would be greatly appreciated, as my internet searches have come up empty. Do you have my knowledge on the subject of how to sell crypto? Or at least can you point me in the direction of talking to someone who has experience in this matter? I know it seems like I’m putting the cart before the horse but I just want to be 100% prepared to make the move if I want to and the opportunity presents itself. Thank you for your time, Shawn K.

Ryan Firth (October 6, 2021): Hi, Shawn. Thank you for your detailed question. I recommend that you develop a plan to sell your crypto in batches when the price reaches specific price targets; similar to dollar-cost averaging. For example, let’s suppose you have 5 bitcoins (BTC). If BTC reaches $60,000 you sell 1 coin, if it reaches $75,000 you sell 2 coins, etc. If you use Coinbase Pro, you can set limit orders so that specific amounts of crypto are sold when the price in U.S. dollars reaches a certain point. If you aren’t on Coinbase Pro, the retail version of the Coinbase app can send price alert notifications on your mobile phone, but I don’t believe you can customize the notifications to a specific target price. You should also be aware that Coinbase has notoriously bad customer service and the website and mobile app sometimes get inundated with network activity to the point that you can’t place trade orders when there are significant price movements, which can be quite frustrating. Also important is to be aware that if you sell your crypto for a gain (i.e., you sell it at a price that is more than what you paid for it), you will owe taxes on those gains, so be sure to set aside money so you can pay the tax come filing time. If necessary, reach out to a tax professional. I hope this helps. If you have any additional questions, please feel free to reach out to me.

Q: My husband has bought Ethereum, NFT’s, UNIswap, and Shiba. I don’t understand the crypto world, I’m just wondering if ‘BUYING’ those, is the same as ‘INVESTING’ in them? Or are they 2 different things? If so, how are they different? – Christine

Ryan Firth (October 14, 2021): Some view cryptocurrencies skeptically as mere speculation; a mania driven by the greater fool theory. While others hold (or should I say HODL?) cryptocurrencies in high regard; their enthusiasm can appear to border on fanaticism and cultism. I think a moderate approach between these two views is healthy. It’s good to be excited about investing, but it’s also wise to have a good deal of emotional detachment, which can be difficult for many investors because we’re humans with feelings, not robots. I think the question to ask your husband is what prompted him to acquire his crypto? What does he think about his purchases? Perhaps some questions along these lines will open a dialogue that will reveal the answers to your questions.

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Related Articles


Where can I learn more about professional crypto designations?

We encourage you to read these two articles about professional credentials for financial advisors specializing in cryptocurrencies:

I’m a financial advisor specializing in crypto interested in being featured in this guide. How do I get started?

Visit this page to learn how you can join financial advisors specializing in crypto on Wealthtender who are strengthening their online reputation and attracting their ideal clients. We hope to welcome you to the Wealthtender community and feature you in this guide soon.

About the Author
Brian Thorp, Founder and CEO of Wealthtender profile picture

About the Author

Brian Thorp

Brian is CEO and founder of Wealthtender. He and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.

With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.

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