I am not a financial advisor so any information here is just my own opinion and not financial advice. Talk with your own advisor for recommendations. The information on my site is for entertainment purposes.
It’s not to late to get started in cryptocurrency! Even if there is a lot of volatility in the market, one thing is certain is that cryptocurrency is not going away and is being more widely accepted as time goes on. As it goes mainstream, the value of coins has been going up.
From Bitcoin, Ethereum and alt-coins like Cardano, VeChain, Doge, they’ve all seen an increase in value over time. New coins like Cardano and VeChain are still low in price and will see gains in the near future. I tend to stick to coins that are in the top 50 market cap. I use the site Coinmarketcap that shows this information and trends.
Coinbase, Binance, Kucoin, Kraken, are examples of a few exchanges where you can purchase cryptocurrency. In the USA, verification with an ID and other personal information is required.
- Learn how the exchange you are purchasing from works, and the basics of buying and selling.
- Learn how mobile or desktop wallets work and use them instead of keeping coins on exchanges.
- Learn about Market Cycles.
- Don’t chase hype and listen to every youtube video or tweet that says their coin is the best and will turn you into a rich person.
- Invest only what you are willing to lose.
- Long term investments should be a high priority instead of get rich quick schemes.
- Patience and a plan.
Even though Bitcoin is hovering around $56k USD right now, even owning .05 of a Bitcoin is better than none. You don’t need to own a whole coin of Bitcoin or Ethereum, just fractions is a great start. Coins like Bitcoin have a finite cap when it reaches 21 million coins, new coins will not be created.
Some coins are called stable coins which follow the cost of the US dollar. Tether (USDT) is one of those coins. These are great coins to use to purchase goods like the ones that I have in my shop! Don’t forget to check it out!