How Not To Buy Cryptocurrency
I am a latecomer to cryptocurrency.
It wasn’t until Bitcoin broke a $10,000 mark when I thought…
Maybe I should spend a little time and learn more about this cryptocurrency thing?
And so I jumped online and started reading about Bitcoin, Coinbase, Ethereum and blockchains.
I even signed up for a Coinbase account.
Why?
Well… Because everyone else was doing it.
And that’s one of the great life lessons we were taught as children.
Do what everyone else does.
Don’t be different. (jk)
And so I continued my weeklong research into this brave new world.
I eventually got to a point where I felt I understood the concepts and technology around cryptocurrencies and blockchains.
I had the fundamentals down.
While my logical side said wait and see — my emotional side was saying get in now!
You need to get in now!
And so one week into my research I put a few dollars into cryptocurrency.
Tick, tock, tick, tock.
And so there I was a few days later.
Watching and waiting.
Doing as they say I should do. HODL!
It’s been an interesting ride so far.
We’ll see where this thing goes.
Along the way I’ve learned a couple of things.
- Purchasing currency on Coinbase actually takes 4 to 5 days to process.
- The price you see posted on Coinbase is delayed from actual transaction rates. I would assume this is where Coinbase makes their money on top of their transaction fees.
At the end of the day there’s a lot of hype behind cryptocurrency.
Still, the concept of a blockchain is fascinating.
What it can do for society in general is a game changer.
With that said.
Take note.
Investing in cryptocurrency is still a gamble.
Just like the Stock Market or the Lottery.
You can win big or you can lose big.
All from the comfort of your own home.
Invest wisely.
