How to Invest in Cryptocurrencies - Bitcoin, Reddcoin, Verge, Dogecoin, Litecoin and others!
I was thinking of writing a song, "How Much is that Doggy Coin in the Window," but I'll put that on on the back burner for now.
Anyway - The first thing to know about investing in cryptocurrencies is: DO NOT TAKE ANY FINANCIAL ADVICE FROM ME.
I'm a beginner - just now learning about blockchain and the cryptos - been about a month now. But, it's kind of like a gambling addiction with all of the cool cryptos with their futuristic star-trekky style logos from which to choose!
Do your own research. Look at the Market Cap, the 24-hourly volume, the quantity in circulation, learn about what makes this coin different - what's its special feature, what's the community saying, what do the "experts" say. (And just because they're giving you a video lesson on Youtube doesn't necessarily mean they're really an expert.)
Buying and trading cryptos is really like gambling if you're a day trader. Nothin' wrong with day trading. If you hit the dips and peaks just right you can score big.
I'd prefer to treat them as acorns. Over time, just watch and see if they turn into trees.
I like to keep at least half of mine in bitcoin, ethereum and litecoin. But I got a bunch of others... Reddcoin, Verge, Dogecoin, Mooncoin, bitbay, navcoin, steem, pivix and likely a few crap coins, like mintcoin and piggycoin.
One bit of advice I think I can safely give is, don't spend more than you're willing to comfortably risk.
Now get along little doggy coin!
I"ll take that advice. lol I am just now starting to learn about blockchain and cryptocurrencies. Is both simple and hard. To me the weakest part of it all is the fact that the currency is valuable because people believe it is . To me that is like believing you will get nourishment from taking a bite of Bugs Bunnies carrot. lol
The US Dollar is not backed by gold or silver, as it once was. The US Dollar is valuable - because, as you put it, "people believe it is." Although that value is being inflated away, and people are catching on.
US taxes are demanded in dollars. OPEC accepts only US Dollars.. there is artificial demand. Cryptocurrency is REAL demand. No one is forced to use them.
follow me on twitter for more #crypto news, comments, memes, questions, and shittalking... https://twitter.com/bitchimlying
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