HELLO STEEMIT!
Today I want to start by introducing myself to the community and launch a short project that I have had in mind for a while now. My goal is to help people make sound decisions when investing or trading cryptocurrencies. In the past few years I have witnessed people lose a ton of money by dumping their savings into projects that turned out to be duds, scams or were on the wrong end of a pump and dump. I am starting this on steemit because while I am assuming that many of you have a fairly good understanding as to how this all works, this should be a good guide for new people that are attracted to this space given with how hot the market has been over the past few months.
If there is enough demand. Over the next 2 weeks (M-F) I will be posting strategies that I use to make sound decisions in this space. I will highlight a few points here so that people are aware of what to expect starting on Monday, June 26th, 2017. If the community feels like this might be useful information to many entering this space let me know below!
1 - I am not a financial adviser. Only spend what you can lose. Don’t trade away your lunch.
2 - I don’t predict prices and I will explain why this is a good thing later on.
3 - Every day I will try to make it a point to link to useful resources I use frequently.
4 - I will not be naming individual cryptocurrencies until the very end of this 10 part project.
5 - RELAX and have fun, there is an incredible opportunity here for us all.
WHY I STARTED LOOKING INTO CRYPTOS
I believe in the blockchain technology and that is what initially was lost given the explosion of a particular crypto that started all of this madness (BTC - Bitcoin). To understand how cryptos can help shake up several industries it is a good idea to do your homework and understand the underlying aspects of what you are going to dump your money in. Here is a fantastic video uploaded by the Milken Institute that anyone interested in this space should take a look at. The panel talks for just over an hour and you will gain a healthy dose of knowledge in a single sitting. It is highly recommended if you have very limited knowledge of how all of this works. This is just a starting point and it is about a year old, but it is a great one to start with.
WORRIED THAT YOU MISSED THE BOAT?
STOP WORRYING! We are still very early and still figuring out how this new technology is going to shake things up across the world! In fact, I would say that now is most probably the best time to jump into cryptocurrency trading given it’s liquidity across the board compared to how things were only a few years ago. The volatility is still extremely high, but things have been stabilizing a bit over the past 2 years or so. Look at the extreme volatility as an opening you can take advantage of rather than a deterrent. There is a term that I would like you all to keep in mind and that is called “Dumb Money”. Do some homework if you have the time or look for my future breakdowns and understand why you do not want to be in that group.
Now you might be asking why I am just talking in general without getting into specifics. The simple answer to this question is because for the most part the people who have accumulated an extraordinary amount of wealth did so by taking the time to really understand what it is that they are doing. Sure I can just tell people to put money into Bitcoin or Ethereum and watch the price go up a bit as new money continue to come in, but it is lazy and I like to make recommendations with some substance behind it.
Shortcuts are tempting, but the true reward is knowing what you are doing to alleviate some of the initial fears you may have had. With smart and informed decisions you have an incredible opportunity here to have your investment grow exponentially in the coming years.
Lookout for PART 01 on MONDAY.
Great article
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