I believe sharing knowledge and information is necessary for a society to grow. So although I don't have money to invest in Steemit right now I will post from time to time and encourage those who can invest in Steemit to do so and not to think abut fast money. Not that fast money is not good or should not be pursued.
So I listened to Crypto Investor talking about Coinbase and how some investors got hit hard with charges they should not have incurred in the first place.It actually caught my attention because a lot of people are focused on trading and making money and charts but few are looking at charges which is very important and a area I need to understand in order to invest.
Yes. I know hats what I am supposed to understand. And there are people who ant to make money from educating you on everything. That's not my style as I believe in helping people and helping has a cost you have to pay.
But anyone getting into Crypto currency and investing their money must pay attention. to every single transaction which is not easy. I once had a trading friend who argued don't worry about'fees. "I make so much money I don't have to worry about fees," he once told me. But eh also admitted he lost thousands of dollars also. And those losses would also have included fees.
Fees can usually be found in the fine print or written where most people would not find them.
Example :What impact has the Lightning Network and Segwit had on fees? What are fees now and what were they before? How much faster is the Blockchain now compared with a month ago?
The Crypto currency market is dynamic and volatile which is why it is exciting and costly.
Not everyone or few can afford to have a dedicated accountant to keep tabs on charges.
So we have no alternative but to pull out a spread sheet an be diligent.
Happy investing!
Hallam Hope
Always sunny Barbados.
@caritel on twitter