So I'm very new to the world of Crypto Currency. I've known the word bitcoin and what it was for a long time. I even considered buying one so long ago, but my husband was a skeptic and I deferred to his logic. Boy are we kicking ourselves now.
So here I am today, like many others who are now kicking themselves, delving into this confusing realm.
I started by finding little games/apps to play on my phone that supposedly pay out. You only earn a bit of satoshi here and there playing these games and thus far only one can I prove actually pays out, but they are a fun time waster and at least one gives me a few cents worth of a bitcoin every few days.
Getting these apps led me to Coinbase, because of course I needed somewhere to store these little pieces of the pie. After being on Coinbase for a few days and watching the prices go up, I wanted more of a piece of all three that coinbase offers.
At first I just bought myself a litecoin. Sadly I did not buy it when I should have so I paid a good deal more than I had intended, but I wanted a whole coin. After a couple of days watching that coin go down and up and down and up, I was addicted. I had to buy a bit of a bitcoin and a bit of an ethereum. Of course I'd prefer a whole coin but with prices as they are that isn't going to happen just yet with ethereum and probably never with bitcoin.
Now I'm starting to get interested in a few other alt coins. (see I'm learning) I'm just not sure the right places to go to purchase these coins and do some trading. Coinbase made me feel safe and comfortable. I like their tracking graphs and setup. I am not sure what the other good, trustworthy, well set up sites are just yet.
I did start taking a class on Udemy about cryptocurrency, that's how I found out about steemit, and I think he's going to talk about other places to trade, but I'm still skittish about trying this all. I also learned about cryptocurrency ATMs, which I think is really interesting, and I found out there is one really close to where I live.
I've gotten my husband excited and obsessed with crypto as well and we've both been doing as much research as we can handle, trying to learn all that we can. We haven't yet learned how people make predictions and know the right time to buy or what to buy, but we're working on it.
We listen to the folks who've been doing this a while, but there are often conflicting ideas. Some think bitcoin will rise much higher than it is now, others think the bubble will burst. Some think litecoin is the next big hit, others think ethereum is.
And then the advice with alt coins also tends to vary sometimes a lot more than the top 3 or 5 does. So it's all a BIG learning curve for someone like me, who is not that great with numbers, and for someone like him, who is the king of all skeptics, but I feel like it's time for us to get into the game and see if we can run with the ball for a bit.
I will say this. Lots of folks advise not putting money in that you can't afford to lose and I agree with that for ANY investment. Investments are always risky. We look at it this way. We've spent HUNDREDS on games that we've played only for 3 or 4 months. We easily spent $30 a week or more on going out to eat, which we can't right now because of his diet. So we could put that all into savings and be risk free and pay off bills in due course and blah blah blah, or we can take a chance and spend our normal entertainment/fun money on something that might actually pay off. If it goes bust and we lose it all, we aren't losing our shirt. We'll just pretend it was a really fun game while it lasted.
With cryptocurrency and investing in general you just need to make sure you do your due diligence before you make a big investment choice.
Those words "due diligence" are great and make sense. But for someone so new learning what exactly that due diligence in this arena is the key. I'm still figuring out where to research that is reputable and reliable, what I need to know before buying, and how to fit all that information together.
You should take a look at my crypto course for beginners...that should help you get started. It's free to watch.
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STOPI think it is great that you are taking an online course to learn more about cryptocurrencies. I have been investing in the stocks, bonds, and mutual funds for about 18 years now. That is almost half of my life. I still don't know what going to happen with cryptocurrencies.
Cool! I follow you.
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