DON'T JUMP INTO CRYPTOCURRENCY

samstickkz (65)in #cryptocurrency • 7 years ago (edited)

Some people just want to jump into cryptocurrency whenever they hear its going up or whenever they hear the price of BITCOIN is going up.

Most times some of these guys go into cryptocurrency Trading without any basic knowledge or guidance from an expert or amateur.

I've met so many of these kinda people in the past few months. They jump into cryptocurrency Trading and it's amazing that the first question some ask is "if I invest $1000, what will I get in a week or a month ?" they just want quick money.

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They just want quick money. Maybe 30% every week or month.

As far as I'm concerned cryptocurrency investment is a long term investment, but you can get some very good returns in a short time.

Yes. Some cryptocurrency grow as much as 1000% in 24 hours .yes 24 hours

In The screenshot below, the first coin grew by over 1000% in 24 hours.

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There ever 800 tradeable cryptocurrency, don't just jump in seek guidance.

Always seek guidance from cryptocurrency experts before buying any cryptocurrency. dont just buy a cryptocurrency because someone says it will grow, it could be a "PUMP & DUMP", so your own research and consult expert.

I always tell people "even if it means paying a friend to teach you the basics of cryptocurrency, pay to learn what you need to know"

how much will it cost you to learn what will change your life?

Paying your friend will motivate him to even show you some of his personal skills or strategy.

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But if you find a friend that will teach u for free, learn it, but be wise to say "thank you" with money or gifts at the end, because that friend spent hours and probably money to educate himself so he can teach you.

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Here are some cryptocurrency terms you should know in cryptocurrency Trading

Whales: these are very wealthy trader, they move the market. Whales on Steemit can make you cry (tears for joy) when they upvote your post. Lol

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Image source: Google

TA : this means technical Analysis. TA could be methods or tools used by experts to analyze and forecast the market.

REKT: bad day in trading. You lost.

FOMO ( fear of missing out): you heard bitcoin was $1900, you didn't buy, now it's going up, you're rushing to buy

Image source: cointelegraph

PUMP: when the price of a cryptocurrency is moving up 🚀.

DUMP: when the price of a cryptocurrency is coming down

HODL (holding): a term used to for not selling off a particular cryptocurrency.

BULL / BULLISH: positive price movement

BEAR / BEARISH: Negative price movement

ALTCOIN: any cryptocurrency other than bitcoin.

DYOR: this is my favorite. It means "DO YOUR OWN RESEARCH". Don't just go with what anybody said. Do your own research.

cryptocurrency investment is profitable . If you're reading this, you're already in the biggest cryptocurrency community (STEEMIT) . Interactive and make friends and you'll find great contents when you make use of the "search"