An Amateur’s View on Bitcoin and the Cryptocurrency Market
Disclaimer* I’m not an expert, nor someone who has truly learned how all this stuff works. I’m an amateur investor and hold some financial investments into various coins available. This is not a advertisement of any kind, simply my views on the markets and why I invest in them.
So, a few years ago I learned about and decided to begin investing in various cryptocurrencies as a way to increase my income and savings and because it seemed like an interesting way to make money. I had some early successes and made some financial increases until the bitcoin and other markets crashed a year or so ago. As I’d been dealing with some financial issues, I stopped my investments and waited a while til I felt that the market had reached its lowest point and then cautiously began making small investments into coins I felt had potential. This has seen some benefit and reward as one of my accounts is now in the green and I’m seeing a net increase in my financial holdings.
I really don’t know how the mathematics work and the terms are still incredibly confusing, so this isn’t a technical article in the slightest. Personally, I believe that this type of investment has merit and is worth putting a little of your extra into. Don’t put what you can’t afford to lose, obviously, and be willing to do a lot of research first. This will help you keep from losing everything and may translate into extra income for you. I have also written a blog on cryptocurrency and if you want to read it you can learn how to claim free coins and make a little bit of extra money that can end up making even more over time, but that’s not what this article is about.
What are my favorite coins to invest?
Personally, I love dogecoin simply because it’s very low valued and you can buy a lot with a little bit of money. This translates into high earning potential as the coin raises in value, but also can cost if it drops. I’ve found the trick is to try to pinpoint the raises and drops in price and sell/buy as it peaks and dips. I’ve made a little through this method, but it requires a lot of sitting at the computer and making educated guesses on when it’s high and when it’s dropped to its lowest. Another coin I like is Basic Attention Token as I was able to buy on a low price and watch it double my cost to purchase it. There’s more than that, but those are two main ones I love to watch and invest in.
Why do I love the market?
It’s the uncertainty of the whole market and whether it rises or drops. In some ways, it’s like gambling, so I can get my adrenaline rush in without really losing everything. I never sell every thing I hold and make sure that I’m only using money that I don’t mind losing, so I haven’t lost anything yet. That helps a lot. Another thing is it’s very mathematical. I find myself making calculation after calculation that actually translates into earnings that I can physically see. Eventually I’ll learn how to really read the charts, but for now as a hobby it’s just fun to make the predictions and see how close (or totally off) I get to what the market does.
What’s the point?
It’s got potential to provide for my needs without having to keep and hold onto a job, it’s fun to watch and invest/sell, it satisfies my need for risk and adventure, and it’s not financially harming me in any way. I’ve made money and I’ve been able to cover accidental expenses by saving/selling coins when I needed to. I feel that the bitcoin and cryptocurrency market is here to stay and will end up creating a lot more millionaires than other types of investments. You never know if you don’t try and I have enjoyed gaining the knowledge and skills to survive in this type of financial market. Who knows what will happen in the future, but I love what’s going on right now.
So what IS my view?
Bitcoin is cool, blockchain technology is awesome, and this type of investment is here to stay and totally worth learning about. I hope you at least learn something about it as I don’t think it’s going anywhere in the future. You may end up rich, or you might not. You never know!