Thread with caution while investing in cryptocurrency
There is no way that surviving in the cryptocurrency platform or your life in general is easy. There is bound for you to experience thick and thin, and lots of hussle, challenges and disappointed that you will comes across as you progress along the line. It is just like the narrow road that God described in the bible. He says the road is full of struggle, suffering and tribulation, but at the end, it is full of happiness and enjoyment. When being compared to the wide road that is wide and full of enjoyment. The end of the road is full of destruction, torture and torment. With this you should be prepared for what lies ahead in the cryptocurrency ecosystem. If you are not careful enough you will end up lossing your fund almost all the time.
I have seen alot of loop hole in the cryptocurrency ecosystem which is affecting us alot. I found out that it is even those we called the rich men, otherwise referred as the whales in the cryptocurrency ecosystem that are the one causing such problems for the chain. If you talk they will start nursing hatred for you. All this is common in the centralized ecosystem. You just can't talk and express your self. If you talk and you are a newbie considered yourself in trouble. Mostly are found common in the blog and earn cryptocurrency blockchain. You only have say and privilege to speak if you are rich.
When you are into cryptocurrency or before you decide to key into cryptocurrency you should make sure that you are inquisitive. Always learn to ask alot of questions so that you can be acquainted with what you wants to key into. Some asked but found out that they were deceived by those they though love the system very well. Those people see deceive them that they won't make loss once they invested. They keep deceiving those people because of the percentage of money that those newbie will pays them for their time and effort in which they sacrificed for teaching them. I am not against their charges or whatsoever, I am against the deceit. This is not good at all. Once those things happened, everybody in the cryptocurrency ecosystem or platform will be tagged scammer. So painful that the legit people that will be tagged scammers when such thing eventually happened.
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Deviating to what we have at hand, I will say that in other for newbie to survive in the cryptocurrency ecosystem or blockchain, they are some certain thing that he/she needs to know in other for his/her journey to be smooth in the as they progress. Failure for you to do or knows about this will, it will cause alot of challenges/damages for you as you progresses further in the cryptocurrency journey.
The basic terms you need to know about cryptocurrency include;
- Bull run: It means the market or price of tokens are rising. Any token you are holding will be showing green.
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Bear run: It means people are selling. When this is happening you will see people loosing fund. It will bes showing red unlike bull run that shows Green.
D.Y.O.R: it means you should do your investigation properly. It means do your own Research (DYOR) before keying into any cryptocurrency project so that you don't regret deep along the line.
- Decentralised system: It means a system that is controlled by everybody that are into cryptocurrency i.e it is built for community. Such decentralised system include Uniswap, BSC, Sushi swap, Kyber, Idex, Dydx, etc.
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Centralized system: It means an exchange owned by an individual or a single person, they include; Binance, Houbi, Coinbase, Kraken, Bithum, OKX etc.
Blockchain: Blockchain is like the bank where cryptocurrency are being processed. Since cryptocurrency came into place, we have seen numerous cryptocurrency blockchain launching. Incase you don't know, some blockchain include Tron Blockchain, BSC blockchain, Hive blockchain, Steem Blockchain, Luna blockchain, Scorum Blockchain etc.
Cryptocurrency: Just like what I hinted above, is the fund inside the blockchain. For example we have Tron token, hive token, steem token, Pancakeswap token, Wox token, Bitcoin, Ethereum Token, Litecoin (LTC), Solana token, Montero token etc.
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- N.F.T; It simply means Non Fungible Token. Those that are artist are really enjoying wealth from Non Fungible Token since it came on board. I really love everything about N.F.T, it has really dominated the market and brought more money to it. If you are an artist the time to eat from cryptocurrency is now. Some platforms where you can sell Non Fungible Token include; Opensea, Rarible, Superrare, Foundation, Atomic Market and Mint Market, Battery, Knownorigin, Enjin etc
If you followed what I shared above, by now, you should knows the basic things in cryptocurrency and that can really help you through out your cryptocurrency currency journey. You need this basis and with it you will see that your foundation in the cryptocurrency ecosystem will be amazing. Nobody will tell you lies etc.
Tfame3865
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There is a decentralized finance project currently running. If you want to make good reward from your stake or Liquidity mining you should take a look at this project called Woxdefi . For more information about woxdefi you can check through the below links
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Purchase Wox through this link
- If you love my post, feel free to comment and also support me, it will help to get me motivated. Remain bless as you read the post. Thanks
This is a part that many newbies don't understanding. Whenever they hear that a project is doing great, they just jump into it. Only to lose their funds in the end. Forgetting that they're supposed to do their own research first, before investing. Very nice publication.
Hello @tfame3865
Good topic you have developed and shared with all of us, I agree with you we must be prepared for what is coming in the cryptocurrency market, we must be alert to execute smart moves to keep us away from unnecessary losses.
Best regards, be well.
I would describe this long road of the cryptocurrency market as a road that to be able to travel it and succeed in it, you have to have a lot of patience and wisdom, know how to endure the critical moments and then know how to take advantage of the time to harvest.
Thank you for your post, it was fascinating to read it.
Your post was upvoted and resteemed on @crypto.defrag
Well, this is a great post and it will help the newbies who are new o this world. I also feel people who feel crypto is a get rich scheme can learn a thing or two from this too. Thanks for sharing.
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Investing is risky by it's very nature, because you can hardly ever be 100% certain. You must really invest with caution, especially when it comes to investing in crypto; which is quite volatile. Interesting read.
Failure to carry out appropriate research before making investment is one reason for so many losses while investing in cryptocurrency. The valid way to experience less loss while investing is to, carry out appropriate research before investing.
Hello @tfame
For those of us who are part of the blockchain, we must be very attentive to sudden changes, in addition, we must make decisions that generate stability and manage to choose the best decisions.