I want to invest in cryptos, where do I start?
I am sharing this topic because recently I have been reading some research papers of studies in which they analyze what are the reasons that make some people invest in cryptocurrencies, and I have gotten interesting some data that I have been able to see, therefore, I would like to share my thoughts on this aspect.
There are many people who simply do not believe in this new Blockchain based financial world, there are others who are literally blinded and see this is totally the future, there are midpoints about it. I particularly believe that the level of credibility that one has towards this financial movement and the vision for the future that we may have is what will ultimately determine our level of risk in relation to the investments we make.
But, when it comes to investing, it is important to have many things clear, especially if they are people who are just getting into this financial world, therefore, it is best that we can educate ourselves first before putting money into something, I think it is more elemental.
I have seen too many people make a first investment just because they have seen that someone has had a stroke of luck and managed to get a hefty sum, but the reality is that it is not the story of the vast majority, and the truth is that most end up losing at the beginning, and even when studying, the chances of losing money are never set aside, that is part of the risks.
I would say that we should start by knowing how to buy cryptocurrencies, how to operate in an exchange like Binance, Poloniex, huobi, Coinbase, among others: It is also very important that we know how to move with wallets like Metamask or Tronk link, as this opens a wide range of interactions and investments.
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We cannot leave aside security, because in this type of economy, practically the responsibility of our money is on ourselves, once we make a transfer there is no turning back, there is no one to complain to, unlike traditional banking, therefore, I consider this point a fundamental part of every person who wants to get into the crypto world.
I could mention some more things, such as "study a project very well " before investing, this implies knowing where to look for information, knowing about the existence of pages like coinmarketcap.com or Coingecho. com; But, in order not to make this post much longer, I would like to invite each of the members of this community to share in a comment or in a particular post, What are those first steps that every person who wants to enter in cryptocurrency investments should take?, it could be something very useful for us, as well as for new users.
Greetings @josevas217 😊💕
What an excellent publication! And I must say I've really learnt a lot from your write up most especially when it comes to making the right crypto investment.
Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead 😊💕
Thanks to you for your support.
If I did give a newbie advice where to start from in crypto I would advise on in-depth research, quest for information about what he's venturing into, truth is without proper understanding of what blockchain technology is one can't develop knee interest on the technology.
Best regards.
Starting from the base, from what I can guess, that seems to me a good recommendation.
Thank you
Your welcome buddy.
Greetings @josevas217, I share your opinion of studying cryptocurrency projects in depth and depending on the needs of the investor to decide whether to invest in stable projects or looking for luck in projects that can be volatile but it is a high risk, I am particularly looking for information about the benefit that the blockchain can provide, the market capitalization among other details that may be of interest.
So long, have a great week.
This is a very solid post. Investing the cryptocurrency requires a lot of things like the knowledge of how exchanges (DEX and CEX) work, how to buy and sell cryptocurrency, then one can progress into use-cases and all. For a newbie, one must first know the fundamental basis of cryptocurrency investment as you have explained in the post.
Thanks for sharing buddy
Thank you very much for the contribution my friend.
I keep saying the same thing, the important thing is to learn first, before investing, because in the end it would be like leaving everything to chance.
This is such a valid write-up buddy, a lot of newbies have lost hope in the possibility of the blockchain simply because they expect some type of fast route to get things done. As you have advised, getting appropriate knowledge based on research is more than necessary.
I believe, I am convinced, that there are no fast route here, I agree with that, unless there is a stroke of luck, which is not usual.
You know, someone asked me this question today "where do I start to invest in crypto?" and I just directed her to this post.
Oh, thanks. :-)
Well, you did a great job highlighting where to start whenever a newbie wants to start the crypto business. Doing your own research is key
Thank you a lot for your comment, and yes, doing a good research Is very important.
Hi friend
I believe it all starts by way of studying and understanding the concepts before jumping in and putting the money.
I guess there is no substitute for doing some good old research
Nice post buddy
Have a nice day !
I think most people start the other way around, put money in and then go on the road after losing.
yes that is the perfect recipe to gain the experience at the cost of losing money.
There is no place to start from when it comes to cryptocurrency, just make sure you have wider knowledge of what you are investing into, that is all you need for you to be able to grow when it comes to cryptocurrency.
I also believe that there is no specific point to start with, definitely, what may work for me may not work for someone else. But you have to learn, little by little.
I agree with you even if I am new in cryotocurrency investment> But I know what is good for other investments is true for crypto too. Like when I invest in share market, I read about company's net worth, growth rate, bonus paid and their balance sheets. The same way I should read about developers, its white paper and most of all the platform it uses for transaction. Thanks for such an in-depth study and sharing it with us.
Thanks friend for participating in this post with your comment, you always bring good contributions. And just as you say, you have to go to the white paper, that sheds a lot of important information about the project, actually it is the base.