Crypto Noobs : Week 01 (22-01-2018)

Published weekly , this series is dedicated towards new people entering into crypto space . I have been involved in blockchain space for little over 1.5 year . When i started , i had no idea what blockchain or bitcoin or crypto was . Just started out of curiosity .

Fast forward now (2018) i can only say " What a journey it had been !" I am blessed being able to learn so many important technologies and beyond. So i intend to write a weekly cover on my journey(mostly i will cover the mistakes i did) .

Note that i dont have a tech background , passion is only drive force . So anybody who thinks you need to be a tech expert is untrue in my opinion. Blockchain is more of a philosophy than technology.

WEEK 01 : How to get started with cryptos ? (5 Steps guide to newbie)

1. Open up a secured wallet : A secured wallet means you got your own private key , have 2 steps authenticated access for both email and user ID. ( for bitcoins and ethereum i think blockchain.info is the best ) . Popular mistake is to open account in an exchanger first(bittrex, binance etc ).

2. Buy Bitcoins and Ethereum : This step is tricky as everyone is so much focused on financial gains . Please never buy more than 100 USD first time . You cant earn without learning first and for that 100 USD is enough . If you buy more , your focus will be distracted and learning wont happen . Another mistake commonly seen if buying low priced tokens first . Please avoid these and start with BTC and ETH first .

3. Fear of missing out : By now you know about how a pizza could cost millions. And stories about self made millionaires in the crypto space . All these hype is real and it just attacks the newbie in a very bad way . Yes , crypto is fast money but it isnt available to indisciplined . So please avoid any sort of rush/urgency to buy a particular token . Remember " there are couple more years ahead for the whole world to be aware of cryptos"

4. Do not start trading : Never jump into trading until you master the art of HODLING or investing . Trading much more riskier than investing into cryptos . Till you know the blockchains , tokens , icos , platforms , DEX and abcs of derivatives its more likely not suitable for you. Spend time in learning not in wasting energy.

5. Learn from authentic resources : Never trust social media posts , specially facebook posts on cryptos . Use reddits , good youtube videos , official websites , slack channels , discord , twitter ( in some cases) for your orientation and learning about a project.

Leave comments if you have questions for me .
Disclaimer : These are my opinions and not a financial advice.