What's in Your Crypto Wallet?
Hey Steemers,
I'm wondering if I should invest the time energy and resources in learning how to make money with Cryptocurrencies.
Seems like a nebulous question right?, like if there were money to be made then why not, right? I guess because I don't really know where to go for the 'right' information. There's too many self-proclaimed experts on YouTube.
To date I've dabbled around a few exchanges, namely QuadrigaCX and Coin Square. Neither of which I'm impressed with but it gave me a start - and I started small.
So far I hold a few Bitcoin, Ethereum, Litecoin and BitcoinCash (thanks to the hard fork). I've looked into EOS and would like to know more about Monero, but what I really want to know is... how does one make money in the crypto space?
I guess in order to be a Trader, you need to sell the highs and buy the lows. Sounds simple enough and I think I'd have more confidence to do so if I understood ICO's, the Blockchain, Public vs Private Addresses, DApp, etc. and all the other 'stuff' that's so new.
I understand there's approximately 400+ different crypto coins out there now! The vast majority of which must be garbage but how do you tell the shite from the shinola??
I find watching Crypto Tips and other vlogs helpful.
Any thoughts or suggestions would be greatly appreciated.
Thanks in advance.
Hello!
My advice - trust no one, read everyone. Slowly you might start discarding certain sources of information based on your research.
Remember, digital currencies are worth nothing! Their only long term value lies in their use-cases. Take steem for example, we are using it right now.
As for exchanges, you want to look at bittrex and poloniex. I have started hearing that people are not trusting poloniex as much, but we should be keeping any big amount in a private wallet anyway.