It usually starts with a bit of curiosity.
A desire to know more. For me it started with the discovery of Bitcoin.
When I was younger I had many ideas of what I wanted to do to make money when I grew up, and Bitcoin was one of those things I heard of.
I didn't know exactly what it was, but I knew that it was a source of income for a lot of people, and that was enough for me.
I put it on the list of things to check out when the time came.
The Boy Becomes A Man
I grew up.
I was getting ready for college and I knew I couldn't depend on my parents forever. I knew I had to go make something for myself.
That's when I started looking back on all those ideas I had over the years.
In the course of my research I eventually got to the Bitcoin part, and I read article after article learning the abc's of Bitcoin, cryptocurrency and the blockchain.
I dived into the pool and started earning some crypto while learning more about the system and how it worked.
I discovered the next thing and the next thing, and after a while I found myself a full time crypto enthusiast.
What Is A Crypto Enthusiast?
A crypto enthusiast is essentially someone who's active in the crypto space (i.e someone who owns crypto assets or is involved in the crypto community).
Being a crypto enthusiast is a whole new lifestyle with its pleasurable moments and challenges.
There's a lot you need to know especially if you're a newbie without much experience.
The first thing I'll tell you is to;
- Lower your expectations
A lot of people get into crypto with very high expectations. Especially those who signed up because they saw an ad about a guy who used $50 to make $6000 in a month.
While it's technically possible to make such a profit in crypto, it's not as easy as it sounds. Market conditions have to be just right for such a pump to happen.
Also, the crypto market is highly volatile. Swinging up and down wildly and unpredictably.
You most likely won't become a millionaire overnight, but there's a couple things you should know to increase your chances of making a buck.
Talking about knowing things;
- Information Is Your Friend
In order to survive in crypto you need knowledge. Lots of it.
Be around here long enough and you'll come across terms and concepts like, buy low, sell high, bearish and bullish trends, hodling etc.
Your understanding of these concepts will determine your success, so take the time to do your own research (DYOR) and never stop learning.
- Stay Safe And Invest Wisely
Cryptocurrency can be very lucrative and as a result it attracts a lot of people. Both the good and the bad.
There's a ton of scammers all around the cryptosphere looking for an opportunity to make off with your assets. So there's a couple of safety tips you should keep in mind.
Backup your private keys and never reveal them to anyone.
- If you do, your assets can be wiped clean by a scammer.
Do your research on the authenticity and viability of a coin before investing.
- There's a ton of shit coins out there and you don't want to waste your money on them.
If an offer is too good to be true, then it probably is.
Beware of phishing links.
It's not advisable to leave your assets on an exchange, because exchanges can get hacked.
- It's preferable to store your assets in a wallet you own the private key to, and transfer assets to an exchange when you need to make a trade.
Only deal with trusted exchanges.
If you see something that piques your interest, do some research, read some reviews and get informed before doing anything else.
Closing Thoughts
The life of a crypto enthusiast has its peaks and valleys. It's fun and rewarding, but can also be frustrating and downright depressing at times.
Despite all the challenges, if you're smart and you put your mind to it then you can make something for yourself.
That's all I've got for you today. Stay safe be creative and have a good time, because I'll be seeing you in another post.
Until then. Adios.
Image credits Pixabay