Beginners Catalog For New Crypto Investors.
Hello fellow Cryptonians and Non-Cryptonians.
First off, I will have to be excused for my fairly poor english. I'm from Denmark... And secondly, none of this is financial advice. It is only a helpful guide through video-links I found helpful in my journey.
Third but last; Don't invest more money than you can afford to loose!!!!!!
This post is actually aimed at the people who is flirting with the idea of putting in a few bucks(or alot) and don't really know where to start or what to do. But also aimed for the people who just got in, and still are a bit clueless.
Well.. It is a complicated landscape this cryptoland. I have learned through mistakes and losses, that what you read and hear on reddit or similar communities cannot be trusted. Not without your own research and gut-feeling.
But it is extremely satisfying to both see gains on your investment, but also find projects and companies that you really believe can change the world, or atleast change parts of our everyday lives. BUT!!! DYOR (Do Your Own Research)
First off. If you don't know what Blockchain is, I can recommend two links which are very educational and for me, generated alot of excitement.
-
These two videos sums up pretty good what, how and why blockchain technology is so interesting and potentially groundbreaking for the entire world and it's industries.
Another new phenomenon that correllates with Blockchain technology is; Internet of Things.
Here is a few links for brief understanding of what it is. It is by far one of the most interesting things I have learned so far.
Big industry-players and famous people are starting to see what Blockchain can do.
Companies like BOSCH, Apple, Microsoft, Tesla, Sony and people like Elon Musk, Bill Gates, Jay-z are acknowledging this technology.
There are roughly(a bit harsh) two different types of cryptocurrency-traders.
The ones who invest and look back in a year or two.
And there are the ones who daytrade.
I do a mix, but mostly just invest and live my life and take care of my job.
If you want to get started right away, Coinbase is the most user-friendly exchange. I started with that one. It only contains 4 currencies, and got higher fees than some other exchanges. But you can here deposit from your creditcard into Bitcoin and the 3 other currencies. Where you now can transfer them to the more extensive exchanges with more currencies.
Exchanges:
- https://cryptocoincharts.info/markets/info
I personally feel most comfortable using Binance, Kucoin, Huobi and Cryptopia. And I am waiting for new registrations on Bittrex.
I prefer easy interfaces, easy management and security. The exchanges offers different cryptocurrencies. For example, Cryptopia got alot more currencies than Binance, many of them are startups for example.
So I personally like to diversify and be able to access different exchanges.
If you transfer to lets say Binance, then there is 50-100 currencies.
Now coinmarketcap.com would be handy to research whatever coins you like.
All these different cryptocurrencies makes you confused. What do they do, what can they offer, should I invest or not?
This site is a BRIEF examination of what the different coins do.
- https://cryptflix.com/videos/cryptocurrencies/
You can here see short videos that explains them, one-by-one.
Wallets:
Wallets are like your real-life wallet, a place to store your funds. There are alot of different types of wallets, for specific cryptocurrencies. You can't store ALL kinds of coins in for example a bitcoin wallet.
Youtubers:
There are a few youtubers who I have learned a great deal from.
These are not financial advisors either.
- https://www.youtube.com/channel/UCI7M65p3A-D3P4v5qW8POxQ
Crypto R Us are my go-to-guy. He is so helpful. I can recommend watching ALL of his videos. - https://www.youtube.com/channel/UC67AEEecqFEc92nVvcqKdhA
Crypto Daily is more fun to watch. Its got fun edits and still manages to cover daily events in the crypto world.
The MUST-HAVE-BOOKMARKED-SITES:
- https://coinmarketcap.com/ (Where you see price charts)
- https://coinmarketcal.com/ (Calendar)
- https://www.coindesk.com/ (Cryptonews)
- https://cryptovest.com/ (Cryptonews)
- https://cryptflix.com/videos/cryptocurrencies/ (Short and brief knowledge)
- https://www.tradingview.com/markets/cryptocurrencies/quotes-all/ (Extensive trading-analysis tools)
Which communities?:
Telegram
Discord
Reddit
Steemit
Bitcointalk
.... These communities can help alot. BUT BUT BUT! Never trust blindly what you're told. I learned that the hard way by loosing 40% of my initial investment because I thought that when reddit exploded with news about a coin, then it would explode in price and go UP. It didn't. So be careful and research and research and research.
And the MOST important rule of all I will say again; Don't invest more money than you can afford to loose.
That was all. Hope it will help in some sort of way! And if not, youtube, communities etc. probably can answer any questions that I didn't answer.
I will drop a few other video-links that I found interesting, educational and inspiring.
http://pumperspicks.com/ultimate-altcoin-buying-strategy/
Netflix-documentary : Banking on Bitcoin.
Thanks for reading.
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