Why Get into Crypto?
Why Get into Crypto anyway?
This may seem like a silly question, but a lot of people really don’t know where to start or even why to get into crypto. When everyone is talking about it, it’s usually time to get out, but the reality is, they’re just talking about it. The number of people currently invested in crypto is minuscule. There is a huge swath of world population that thinks they’re either too late or think it’s a fad. I would argue that these are mostly the same people. It’s like thinking you were too late for the internet in 1998, just totally wacko. Yes, there was a big correction, which was followed by the most growth an industry had ever seen. What do these people think will happen with crypto? Those thinking it’s a fad or not backed by anything, look at the US Dollar, neither backed by anything nor initially believed to last for long as a fad.
Why Get into Crypto now?
Beyond the fact that crypto is at the precipice of exponential growth, why not throw some gambling money into something that could be bigger than Microsoft & Google combined? Forego dinner out for a week and let it sit for 5 years. Seriously, what are you waiting for? Imagine hearing about the new horseless carriage and thinking what a silly fad it would be. If you’re not at least putting some spare change in, I’ve got to think that you love being poor or you’re afraid of technology and shouldn’t be using the tech required to read this. Make no mistake, within the next decade crypto currency will be as common place as high-speed internet.
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Want to start into crypto safely and easily? https://www.coinbase.com/join/58ddbace00724d025c1fea6b
Securely store your crypto with a Ledger Nano S: https://www.ledgerwallet.com/r/89e7
Need to do a crypto exchange: https://changelly.com/?ref_id=55cbe27dc0e1
A VPN is surprisingly important, support the show and start surfing securely. https://www.linkev.com/?a_aid=12788962
Check out Binance, one of the most diverse exchanges on the market: https://www.binance.com/?ref=12091725
Why get into Crypto when there are so many bad stories?
Let’s be honest, there are always bad stories about everything, that’s just what gets views, sales, like, etc. If you focus of the fact that as I’m writing this, Bitcoin is down 14% for the day, you’re missing the point. Every market has ups and downs & they’re DEVASTATING for traders and those timing the market for a ton of different reasons. If you play it smart and safe, you’ve got nothing to worry about. Bittrex shutdown new trading accounts for a while, maybe this leads to some investment advisers getting into the business to manage your money for you. Or maybe you go over to Binance, or jump on the ICO for Next Exchange https://next.exchange/?ref=Y2Q1NjhiMjFlZQ (and support the show). Bottom line, there are options for trading and getting your first pot of crypto. These big drops are that opportunity, take advantage of all the fear selling and buy your crypto today.
I constantly ask people if they take it as payment and they ask why get into crypto, if it’s a giant bubble. I mention a correction and they laugh and ask about it finally crashing. I’m baffled by this need to validate their regrettable decision to not get involved. Don’t be one of those people that refuses to get involved because they weren’t there at the very beginning.
Why get into crypto & what crypto to get into?
We’re seeing a ceiling to what the Bitcoin & Ethereum block-chains can handle. The transaction fee for me to put about $900 in an exchange was $37, would have been $45 if I wanted it faster. That’s is offensive, this is why I’m looking to finally liquidate the rest of my BTC holdings. Ether is about tapped out because of congestion on the chain. The sheer number of crypto platforms and currencies built on top of Ethereum is terrifying and likely a leading contributor to it’s congestion. I like BitShares, but I think they’re mischaracterizing their strength over ETH when they brag about their speed and ability to handle more transactions. They don’t have so many platforms and smart contracts interacting on them. That being said, I’m no longer holding any significant amount of Ethereum because it has become so congested. I have a great deal of ETH based tokens, but they’re all at risk if the Core team can’t figure out how to scale, quickly. There could be a lot of tokens out in the cold and near worthless if these problems aren’t quickly resolved. That would be the true Ethereum killer, half the market essentially dying due to congestion and uses abandoning. I hope the many platforms using the ETH blockchain are prepared at a moment’s notice to convert to a different blockchain. I know it is not short order of work to do, but it as prudent as running anti-virus software and not clicking on links messaged to you. I love PROOF Suite, but I’m afraid they’re missing the boat and focusing on their product while neglecting a plan B for making it work on a usable blockchain.
Interested in getting started with Bitcoin or Crypto in general?
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Originally published at Building Crypto Today.