Crypto Investing: Beginning The Journey
If you're anything like me, you probably are just becoming aware of the incredible opportunities in investing in digital currency. I am at the very beginning of my journey, and I thought some people might find it helpful to hear about my experiences or perhaps want to share their own. If there is one thing I have learned it is that I have to be willing to ask questions and listen in order to figure out how it all works. Please don't feel intimidated by what you don't know. Empower yourself by asking questions and doing your own research. Every journey begins with a first step into the unknown.
Like most people, Bitcoin was the first crypto I heard of although I had no real idea what it actually was. If you had asked me a couple months ago I probably would have said "digital money", which would have been correct except I now know there is far more to it than that. Block chain technology was a term I had not yet encountered.
I first stumbled across Bitcoin on a website and was intrigued by the fact that the merchant was offering a sizable discount for using it as a payment method. I wondered why...what was his incentive to offer me a discount? I just assumed it cost less on his end to process the payment and was therefore worth his while. I soon came to find out that Bitcoin and other cryptos are long and short term investments; that $100 in BTC could very easily become $250. Of course it could also lose value as well, just like any other investment. But the whole thing captured my interest. I ended up purchasing a small amount on Coinbase (the best site for newbies, mostly because it is user friendly and allows you to purchase crypto with USD) and decided to begin researching what it was all about. Not long after that I discovered ethereum and began watching countless YouTube videos explaining how ETH could literally refine how the entire world interacts in terms of business, government, contracts, healthcare...the list goes on and on and the possibilities are endless. I quickly realized that this was perhaps a once in a lifetime investment and began to buy as fast as I could afford to.
After joining some groups on Facebook, a friend contacted me after seeing that I had liked a post on a page from a group he belonged to. We began to chat and he told me about Bittrex. I struggled figuring out how to navigate the site, but he showed me the ropes assuring me it was the type of quality exchange you want to interface with. He encouraged me to use my BTC to buy other coins that are much cheaper because of the profit potential. He recommended a few coins like XDN, DGB, STEEM and a few others. I invested in those as well.
Currently my portfolio is around 6k and I am loving the daily process of learning more, studying the market and getting the feel for how it moves. I plan on steadily increasing my positions into the future. Most recently I invested in NEO (formerly ANS or Antshares). I am very optimistic about the potential for growth in what is being called the ETH of China. It is still very cheap as of the date of this post, and it may very well take off in the near future.
Please shoot me a message if you are new and need some help getting started. I am totally convinced that there are incredible opportunities in crypto. If you have any advice or stories you'd like to share please don't hesitate. Let's all learn from each other and grow our wealth together!
Remember; nothing ventured, nothing gained!
Happy investing!!