Oh God, another one of these posts
Yes, It's completely necessary! You, dear reader are most certainly watching the price of Bitcoin change dramatically every week. Whether you know what you signed up for or not, you must be prepared to lose before you win. This is something I knew right when I purchased my first fractions of Ethereum coins. Since then, I've gained and lost money that I was prepared to lose in the first place.
Coins depending on which you buy have large and/or small returns. Every ICO has the possibility to earn you an insane amount of money. However, the first thing I decided was that I was going to avoid almost all alt-coins that haven't proven themselves in the arena.
Bitcoin The "Crypto Core"
Bitcoin is the original blockchain that we all know of. It is the Sun to our solar system. All coins eventually are pulled into Bitcoin's gravity. If you invest in BTC, you are likely to lose or gain very quickly. It is also notable that investing in Bitcoin is generally a good idea to do after you've studied the charts for more than a few weeks. However, as prices just keep going up, is there such a thing as a bad time to buy.
Buying Coins and Gas
Buying coins usually come with fees that rise depending on the amount you are investing. Note that also sending coins between wallets cost gas. This is common knowledge. However, if you aren't playing with much of a kitty... These get expensive if you aren't making anything. As Bitcoin is purchased more and more, that gas, becomes more than just USD cents to send.
What About STEEM(it)?
I bet you've seen this gif a million times
I like Steemit's platform (STEEM), but the coin isn't doing very well these past few months. Has STEEM been losing STEEM? Yes. I think that it is ambitious to say that Steemit will replace Facebook or Reddit and frankly insane. The only difference between Steemit and Reddit is the value of your posts. However, Steemit needs to find a way to fill a different gap that Reddit and Facebook don't already fill.
I think what Steemit lacks is a real incentive to use the platform. People don't use Reddit or Facebook because they care about making money from their posts. They just want a large and dedicated soap box to stand on. I know this may sound rude to those who deeply believe in Steemit.
If you still use Reddit and/or Facebook, then perhaps you should consider what it is that draws you to them. Steemit is a carbon copy of Reddit. I really hope the developers find a way to improve the platform, otherwise they've been cheating us this entire time.
Conclusion
Buy Bitcoin, but watch the charts. Research altcoins and how they plan to improve the future. Play with a kitty and not your savings, but play with enough to not lose money on paying for gas. Steemit is a powerful idea but still lacks a real difference between Facebook and Reddit.
P.S. Thanks for reading, let me know your thoughts and let's argue about what can improve!