Many people see Bitcoin and cryptocurrency as a wonderful investment opportunity but have no idea how to get started. Four years ago I started to dip my toes into cryptocurrency and I felt completely overwhelmed and had so many questions. What is Bitcoin mining? Do I need to mine Bitcoin? Where do I buy cryptocurrency? How does a Bitcoin wallet work? If I don’t buy a bunch of cryptocurrency now will I miss the boat? Read full review.
I understood that cryptocurrency is the future but I didn’t know how to go about making decisions regarding it. Fortunately, I had some friends who helped me in my journey and I hope this article will help you too.
Personal Finance
I first must point out that I am not a financial adviser and this article should not be seen as financial advise; it’s just my personal opinion please do your own research before buying cryptocurrency.
Buying cryptocurrency is just as much about personal finance as buying stocks, bonds, real estate or precious metals. You should never invest more than you can afford to lose and make sure your personal finance is in a healthy place. Crippling debt and Bitcoin investing go to together like oil and water and not having emergency money could place you in a situation that forces you to sell when the market has dipped. Only buy if you are in a healthy financial situation.
Learning
Understanding cryptocurrency and Bitcoin will take a lot of research. Therefore, it’s essential that you have several high quality sources of information. I highly recommend that you check out the OKEx Academy to read lot’s of high quality articles how Bitcoin works, how to trade cryptocurrency and other cryptocurrency news.
Buy What You Understand
Don’t buy a cryptocurrency if you don’t understand what it does. There are a lot of amazing projects out there that could give you a great return on investment but if you don’t understand it you should stay away. You will just end up selling or buying the coin at the wrong time.
If you love video games check out blockchain game projects, if you are a finance guru check out Defi, and if you love new technology check out different smart contract platforms like Ethereum.
With so much growth in the cryptocurrency industry there really is something for everyone. But make sure you are wise with how much you purchase, don’t give into FOMO (Fear of missing out) there is always time to buy and don’t give into FUD (fear uncertainty doubt) because the only way to make money is to risk it.
