The cryptocurrency market has grown exponentially in the last few years. With over 1,500 cryptocurrencies available on the market and growing, it can be difficult to navigate this rapidly-evolving landscape. Here’s what you need to know about invest in cryptocurrency before it’s too late.
What is Cryptocurrency and how does it work
Cryptocurrency is a digital currency that uses cryptography to generate and verify transactions. Cryptography is a method of protecting data, such as the transfer of information in Bitcoin’s blockchain. The blockchain allows users to track every transaction ever made on the network, and it cannot be controlled by any one person or organization.
Cryptocurrency is not linked to gold or any other physical commodity; rather it has value because people believe it has value. Its price can fluctuate wildly based on supply and demand, but its real strength comes from being decentralized rather than centralized like most national currencies today (like the U.S dollar).
The Plan by Dan Hollings makes investing easy.
The Plan is an online Crypto training course that is designed to help you learn everything you need to know about Cryptocurrency. The Plan was created by Dan Hollings, who has been involved in Cryptocurrency since 2013 and has been investing in it ever since.
The Plan covers everything from understanding the basics of blockchain technology to learning how to read cryptocurrency charts, set up an account and buy or sell cryptocurrencies on an exchange.
You can also learn how to use different hardware wallets for storing your coins offline and how to keep them safe from hackers. If you want more advanced information about trading then there’s a section on crypto exchanges like Binance and Kucoin where you can trade one coin for another without having access to a bank account or credit card.
You can learn without the pressure of investing
If you’re interested in learning more about cryptocurrency and want to get started, there are many free resources you can use. For example, Youtube has a lot of videos from experts on how to get into cryptocurrency investment. You can also find these experts at conferences across America open for everyone to attend (and even meet them afterwards). It’s important to note that it might be best not to invest your hard-earned money until you have thoroughly researched all aspects of the market before making a decision.
You can get started even if you don’t have much money to invest
The good news is that you can get started with a small amount of money. In fact, you don’t need to be a millionaire to invest in cryptocurrency. You can make a little bit of money a lot of times by investing a small amount at first and then waiting for the value to rise before selling it again.
This strategy works well if you have time on your side; as long as you have patience, it doesn’t matter how much time passes between buying and selling or when the price changes dramatically (like during an ICO). If this sounds like something up your alley or if you think that crypto might be right for your financial future, there are plenty of ways both online and offline where people are willing to help newbies learn about cryptocurrencies without having too much cash upfront so don’t delay.
You won’t be overwhelmed by confusing financial jargon
You don’t need to know how to read a 10-Q or an annual report. You don’t have to know the difference between a stock and a bond, what a credit default swap is, or what the Federal Reserve is. You don’t even have to be able to decipher your own bank statement—though that’s probably not a bad idea.
All you need is some basic knowledge about cryptocurrencies and the ability to use an exchange like Coinbase or Gemini, which are user-friendly enough for all but the most distracted person.
The reason why investing in cryptocurrency isn’t difficult at all is because of its underlying technology: blockchain—it’s basically just a ledger of transactions with no central authority that can manipulate it. Blockchain has been around since 2009 and has grown exponentially ever since; over 1 million people now use Bitcoin payments worldwide every day.
You can start investing with a small amount of money
There is no minimum amount required to invest in cryptocurrency, so you can get started by contributing a small amount of money at first. You don’t have to wait until you have $1,000 or more before getting involved in the market.
Just like any other investment, there are risks associated with cryptocurrencies—but if done correctly and with careful research and planning, the potential for reward is great.
So, is it too late to invest in cryptocurrency? It all depends on your risk tolerance and the amount of time you want to wait. The bottom line is that there will always be risks when investing in anything, but if you’ve done your research on a particular coin or token and feel confident about its future prospects, then it might be worth giving it a shot.
About the Author
Monica is a passionate writer and content creator. Her interests include outdoor activities, fitness, technology, entrepreneurship and everything in between. Say hi to Monica on Twitter @monical_lee.