How to Get Started In Crypto? #23
This week we focus on the topic that many of our listeners have asked - How to Get Started In Crypto?
Welcome to the digital money revolution! This isn’t just a financial revolution, this is the next generation of technology being built right before our eyes. There is a lot to learn, with both legal and technological situations evolving constantly. You can wait until the dust settles, or you can try to maximize potential profits now. Either way, it’s an exciting time to be alive!
When doing anything with money, the first and most important question is, “Who can I trust?”. With crypto being a “environment of trust” from its very foundation, this is a philosophical problem everyone must overcome using some form of rationality. The most important thing you can do in the beginning is just to learn and watch for a while before breaking into your bank account.
Here is a list of things we think you need to do to embrace the world of cryptocurrencies:
- Research - The most important thing you can do in the beginning is just to learn and watch for a while before breaking into your bank account.
- Take Time and Invest Wisely - Take some time to find a project that you find interesting, and that you want to succeed. Find a good team that seems like they know what success looks like.
- FIAT into Crypto - To make your first investment, you need to convert your money into cryptocurrency (Exchanges with better reputations and no-so-great reputations).
- Security and Safety – NB! If you lose your private key, and don’t have it backed up, you will lose your money. There is no-one who can recover it for you, so keep it secure
- Repeat - Now that you’ve successfully invested in cryptocurrency, it’s time to do it all over again!
Even the greatest technology, with the smartest team, and the most fervent community doesn’t always last. There is always an even better project around the corner, with established partnerships already waiting to use their platform. So, keep researching, learning, and investing in more things. But keep things in line, don’t go out there taking a mortgage on your house to invest in crypto. Only invest what you can afford to lose.
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