Over the past few weeks, Bitcoin has been gaining huge media attention. There have been both negative and positive articles, interviews, and investment advice published on small and large media outlets. This has resulted in a dramatic price increase in not only Bitcoin, but other alternate currencies as well. So, I’m starting this blog to help my family and friends navigate the world of cryptocurrency. Whether your goal is to just gain a basic understanding, turn it into a hobby, or learn technical and fundamental analysis to begin generating income, I will be posting guides, tips, and giving you insight as to how I trade and make sure that I am maximizing my profit in this highly volatile and risky market. Before we begin, I want to lay down some ground rules:
- NEVER invest more money in cryptocurrency than you are willing to lose. In fact, you should just consider your investment gone as soon as you invest it. If you are going to begin investing in crypto, you need to have a clear mind and not let emotions get in the way of your trading. This is harder than it sounds, so don’t invest an amount of money that will affect your happiness, financial well-being, or overall mood.
- I will not be held responsible for any losses accrued during your cryptocurrency journey. These markets are highly unregulated. It is truly the wild-west of financial markets. During your time you will experience scammers, hackers, phishers, market manipulation and more. There are no repercussions for people that do this, and there is no authoritative body to report them to. In this environment, everybody is out to get you, and almost nobody is there to help.
- The investments and transactions that I make here publicly are based off of my personal opinions and analysis. I am NOT a certified financial advisor. If you wish to copy me, you may do that, but you assume all risk when you choose to do so.
- Cryptocurrency markets are open 24/7, unlike traditional markets. I will try my best to update my positions via blog posts as they happen, but sometimes you will miss an entrance/exit. I often make trades in the middle of the night. If you aren’t awake during that time, you’ll miss the blog post. I will try to tweet out my positions, but again, they could be at any time of the day. My recommendation is to just observe until you get a feel for how everything works.
If you understand and accept all of this, we can move on. The first step of investing in these markets is understanding what you’re actually investing in. My next post will explain what Bitcoin and other alternate currencies are, where they come from, and what makes them valuable.