Which things we should know about cryptocurrencies?

[Ayeshabashir]

Mostly beginners who recently joined this forum and recently taking interest in cryptocurrencies should know some important things about cryptocurrencies are that crypto is a digital currency so if someone wants to buy crypto firstly he should be make sure that the coin that he wants to purchase what it is market price and whether it will give you profit in the future or not before buying getting information about that

 

[Chibson]

Anyone who wants to venture into cryptocurrency must understand that it is a digital currency and at the same time it is decentralized. over the years many people have capitalised on the opportunity that cryptocurrency has presented to make a whole lot of money on the internet sitting at the comfort of their homes. It is very well understood that investing money is now simpler than ever because cryptocurrency has brought this opportunity to a whole lot of people. Around December last year, there are people that invested in some cryptocurrencies like Shiba Inu and today they have become millionaires and some made thousands of Dollars. This is one opportunity that cryptocurrency presents in the sense that you can make lots of money and at the same time stand a chance of losing huge amount of money but it depends on your level of knowledge and your ability to manage risks. there are many ways of making money from cryptocurrency such as trading on spot, futures trading and cryptocurrency staking and so many of them like receiving airdrops from new project.
One of the major factors that someone should look at for whenever he or she wants to invest in a cryptocurrency is the team behind that project and their track record and also the market cap of the project. market cap helps you to estimate the amount of profit we are going to make from such a project because low market cap cryptocurrencies tends to make a whole lot of profit for people on the long run.

 

[btaliat]

There is much need to know what crypto is all about before venturing into it. At least ,this will prevent loss of money. There is need to know what it is entailed, before starting it. So, what is crypto?


Crypto is.a digital currency that runs on Blockchain network, meaning it is not centralized. This is what distinguished it from the CBDC, which is somehow centralized.

Having been exposed to what crypto is, there is need to know how to identify a prospective coin that will be profitable in the future and capable of yielding high profit. To be honest, it is not possible to know this, but there is tendency of predicting close to perfection especially if there is knowledge of technical and fundamental analysis skills .

Having chosen the right coin, there is need to know whether someone should trade or invest his coins. Thenfsct is that not all coins are tradable neither do all coiks need to be invested on. The volatility knowledge Weill help a lot ik doing this.

A crypto enthusiast that has chosen to either invest or trade needs to know how to control his emotion. There are fear and greediness which serve as bane to a successful trader and investor. So there is need to know how some trading platforms are used to mitigate loss.

 

[Skysaint]

There's just a lot of things a newbie should know about cryptocurrency trading and investment and maybe it will help minimize how frequent they make or encounter losses.
One is that cryptocurrency is actually a digital coin or currency and so it's not like the fiat type that is physical and I guess it was made to be anonymous in nature.
Secondly is that the cryptocurrency investment and trade is actually a lucrative way to earn money and if you truly learn all you need to know about it, you won't be having a difficult time trying to earn from it as it has made a lot of people rich and still has the potential to make a lot more rich.
However, we should also note that the idea is not a get rich quick scheme and the amount of profit you earn is proportional to the amount of money you invested. For example, if Mr a should invest $10 in a particular coin and Mr B should invest $100 in that same coin and the coin happens to increase by 10%, Mr A will only make a profit of $1 while Mr B will make a profit of $10. They will also lose same amount also if the coin should go down by -10%