I've been following the cryptocurrency world for a few years, but 100 days ago, I decided to take the leap and start investing.
Here are a few of the lessons/experiences:
Good things happen to those who wait. Don't expect a 0.0001 priced coin to turn into a $100 coin overnight. Learn about market cap, regulation, blockchain technology, and historical data. Additionally, don't Google' Price prediction for x Coin' or join in on the Group Chats where individuals ask 'Sir, what price next month?', or 'When are we going to the moon?'
Ignore the Groups
These are full of delusional individuals who would vent their frustration at the developers if the price dropped or expect their $100 to return a 1000x return in one month. This behavior isn't good for anyone. I follow the Official Announcement channels for the latest information direct from the team behind the coin but have learned to laugh at 99% of the comments on group chats.
Bitcoin took years to hit $100. Therefore, relax, and understand that Cryptocurrency and Blockchain technology will become increasingly adopted around the world. But these changes don't happen instantly. Countries, companies, and governments will one day acknowledge this technology in various ways, but they also have voters, shareholders, and alliances to maintain first.
Do Your Research
Read about the project on Medium & Social Media. Find the names of the developers and looked them up on Linkedin. Anyone can create a coin. Therefore, do your research before throwing money at something. This is general life advice.
I could quickly launch 'Aaron's Coin' as nothing more than a meme coin of my face and people to throw money at it. It's a cowboy world out there. Be careful.
Only invest in coins with a genuine future with business goals and plans to utilize the Blockchain fundamental technology for a reason. E.g., Providing financial loans powered via…