Over the centuries, millions upon millions of people have tried to get rich, and over the centuries, many have. On the flip side, over the centuries, the same people have had superstitions and reservations about the new and unknown. We believed for centuries, (and some still do) that the earth is flat. We believed that the universe revolved around us. We believed, and many still do, that the pickle dicks elected to office, along with corporations, have our best interests in mind. We are very skeptical when it comes to change, and is exceedingly difficult to change, which can be good, as it keeps us from running over a cliff like a herd of lemmings.
This is where the crypto curse comes in. It is a new thing, which people are fearful of, but the fact that it took off the way it has, and has a lot of volatility to it, more so than the stock market (usually), it had taken time for people to start warming to it. With inflation rising, people are looking for safe havens to place their money, and unfortunately, the curse of crypto tends to keep many away, not wanting to learn about it due to its history and that it is a new shiny thing.
Over the years though, various sectors have emerged within crypto such as stable coins, lending services, payment services and something that I would consider a stock market / savings account hybrid. People have and do get overwhelmed by what is offered and tend to stay away, it criminals making use of it due to it being mostly anonymous, people will simply walk, and in some instances, run away.
For anyone who is interested in crypto, there are a few simple things you need to know such as:
1 Do not invest a lot of money at first, you’re trying it out, don’t risk what you’re not willing to loose
2 Look around for an exchange to trade in, I do recommend Coinbase and Uphold
3 Do you’re homework, I have already listed some ways to invest, such as coins with an APY such as Cosmos, along with going to sites where you can buy a currency and lend it out for an interest. (Yes, there are lending and payment services ie crypto versions of bank loans and visa cards, 100% be careful here)
4 Do not, I repeat DO NOT fall for celebrity stuff, or follow hype trains, rarely, if ever, do those coins go to the moon, chances are you’ll be buried at the earths core.
5 Do get a cold wallet, these are just like the wallets we see today, you plug it into your pc or laptop, take the crypto off the market and put it in a wallet then the cold wallet. It keeps the currency from being hacked.
Hopefully, this all helps, and that it shed some light on crypto itself. Check out my website Red Dirt Download to find out a little bit more of what I do. Until then, stay happy.
#Crypto #Market #Bitcoin #Cosmos