INTRO 2 CRYPTO
Basic Tips to Get Started
Cryptocurrency is a form of payment that can be exchanged online for goods and services. Many companies issue their own currencies, typically called tokens, and these can be traded specifically for the good or service that the company provides, or even real world items. Cryptocurrency is digital money.
Blockchain is a decentralized technology spread across many computers that manages and records transactions.
Think of it as a global public record. You can also view it as a public bank statement. The individuals are completely anonymous, only showing their cryptocurrency address.
Decentralization is the process where decision-making is distributed between multiple parties/individuals. Instead of having one center of authority, not one person or group has absolute power, making it fair for all individuals that are partaking in crypto. Cryptocurrency being decentralized, brings freedom and equality to individuals and their finances.
Follow Crypto Platforms
Follow crypto project developers, crypto companies, trusted crypto enthusiasts, and crypto news pages. Your timeline has to be busy with crypto content to keep up with the industry. Social Media is your tool to access opportunities early within the crypto industry.
Crypto is its own culture and it expands pretty vast in regards to the information within it. Study the actual details and not just what the graph shows you. You will gain a perspective as those that think highly of crypto because you start to see where opportunities lie, giving you the motive to act upon it. Just like anything in life, you have to learn it to see it’s value.
Be Patient In The Crypto Market
Don’t be so quick to invest your money into something without understanding what it actually is. Understanding first, brings confidence so you can have peace with yourself and where you placed your investment. Apply investing into what the company or project does, before what you heard or see on a graph. It will help keep you on the winning side long term.
Utilize Online Resources
Utilize online mentors, people you may connect with on social media, an online course, an actual teacher, etc. There’s a bunch of people you can learn from online, and this is how most people find their way into crypto. Who to Follow? Definitely a process of elimination depending on who you are. Follow those who will expand your mind and who you can learn from with ease.
Know The Differences: Coin/Project/Company
Understand that every coin you see in Crypto represents a project of some sort, which is also considered a company. They issue their own coin that you can invest in and use to access their services. (Example: Cardano is a company and they use ADA as their currency to pay for/utilize their services.)