TheFinanceSpot
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TheFinanceSpot

Blog 17: Buy Some Doge Immediately!!!!, I’m Not kidding!, Also how Crypto Investing Works!

Photo by Minh Pham on Unsplash

So you think I’m joking, about the Doge thing? Not even close, the thing about Doge is that it doesn’t require infrastructure to itself to grow, all it really needs is some one to push it, but there is a given set of infrastructure not pushed by the creators of Doge but by companies like Robinhood Crypto, Coinbase, Crypto.com, and others.

When I say Doge requires minimal infrastructure, I kind of lied, it needs the basic infrastructure like a blockchain, a validation host, a source host and a contract all of which make the crypto exchangeable. Now we’ll get into that in a second but first, allow me to introduce myself.

Introducing ME!!!

Photo by Don Stouder on Unsplash

Before we dive in allow me to introduce myself, My name is Akshith Konda. I’m a 21 year old College Student and I am the CEO, Writer, and, Author, and Editor of The Finance Spot. It’s just something I do for fun, I’m also the CEO, Main Host and Business Director of the On Your Own Two Feet Podcast.

About the Blog

So the Finance Spot Blog is designed to be as easy to understand for any age group it also goes over topics like Real Estate, Crypto, Negotiations, Buying a car, Investing and more. I also as part of the Finance Spot post a weekly Watchlist on Sunday at 9PM CST or Monday Mornings before Market Open(8AM CST). Blogs go Live at 9PM CST on Saturdays and Quote of the Day or QOD’s Are on daily and one Quote of the Week Weekly.

OYOTF Podcast!

If you wanna know more about the Podcast here’s a summary.

On Your Own Two Feet is a motivational/sociocultural podcast in which we dive into the big topics of human, cultural, and philosophical lifestyles, making it engaging, entertaining and easy to understand for today’s youth and Tik Tok Generation. OYOTF seeks to inspire a new generation of Entrepreneurs and Visionaries to tackle the issues of modern society. Join us as we talk with new Entrepreneurs and discuss their paths and the difficulties they faced.

Our first episode Has aired only on Spotify. We ran into issues getting it on to other platforms, Episode 2 may not air till after May 13th and will be available on other platforms, we are working on getting EP 1 on other platforms as well now that finals are done.

All members of the OYOTF team are college students so yea we’ve got our first Vibe Check with a couple of Entrepreneurs and we can’t wait to show you what’s next for OYOTF! Our next episode will drop some time in the near future, when I say that I mean sometime next week! I swear…. We were all just too busy to do anything but we finally got it done.

Buy Doge Immediately!

So its well known that Twitter Trolls such as Elon Musk can control the price of Crypto but to be honest he doesn’t entirely control the price, think of Elon as a sort of suggestion box that actively tweaks the price based on those suggestions, now really its up to the Blockchain to determine if those suggestions are actually feasible. If they are feasible, then the Blockchain will determine with zero input from humans, mind you, how low or high the price will need to be to accomplish these suggestions as we’ve put them.

Since about Monday, Doge price ‘Suggestions’ have simmered to new lows so this allows Doge to hover at the 0.30 mark but this morning Twitter blew up with an exact time and date of when the coin would hit a dollar with an analyst recommendation as well.

Now I don’t give out financial advice but this is a big suggestion and not officially sanctioned advice. So I’d recommend you put some money into Doge and other Cryptos while they suffer a temporary low because they will rise yet again. They are like the Reckoning, it’s a little more confusing though because unlike stocks, cryptos are traded 24/7, 365 even on Thanksgiving, Christmas, New Years and Memorial Day and the 4th of July, so there’s infinitely more risk but with out risk there can be no reward.

Crypto Investing 101:A How to Invest in Crypto Guide.

Photo by Pierre Borthiry on Unsplash

Crypto is an unstable asset class and involves a lot of digital infrastructure to mine and to even exist.

So first lets go over the infrastructure of the asset.

Like stocks, there is a contract.

The contract is a statement which says that this coin is now tradeable and the contract determines the opening price of the crypto.

There’s a blockchain to keep track of the addresses and the amount of transactions as well as maintain the value of the coin. The Blockchain is ever expanding ledger and can expand to a near-infinite number of addresses and wallets given enough computing power and energy.

There’s a source host, which in layman’s terms is a mining source or a valid source, this ensures that the mining port is valid and is a proper mining source. Mining is also a contributing factor to price as Supply and Demand.

There’s the Validation Host that allows us to verify whether the coin is valid and not corrupted, like gold, basically you wanna see if you have a real unit and not a fake, the Validation Host does that as well as identify addresses and proper Hosts to expand the blockchain to as well as aid in storing crypto in the correct wallets and Validation Hosts are a big reason there are very few mix ups in the crypto marketplace.

Addresses and Wallets: The method of Storage

Photo by 30daysreplay Germany on Unsplash

Storing a Crypto is pretty simple, to be frank, it couldn’t be any easier.

Once purchased it goes through the validation host and then to the blockchain to be recorded, then is verified against the contract and once mined is placed in an wallet which has its own address.

An Address is a way to use the crypto, so that it can be used in day to day life. All cryptos use or have Hexadecimal Addresses, which means they are a combination of numbers and letters, these addresses are some of the most secure and can be directly integrated into banks to funnel cash or buying power to the exchange similar to an investment account.

Investing with or in crypto

Photo by Maxim Hopman on Unsplash

Investing in Crypto is pretty simple and requires little time and effort though from personal experience is kind of hair raising and is not for everyone.

Cryptos are traded round the clock 24/7, 365, and never takes a break regardless of the issue. Most investors use a technique in the investing world known as Dollar Cost Averaging.

Dollar Cost Averaging in Crypto

This is a technique in which most liberal portfolios participate in, the concept states that once an assets price goes down, you are likely to buy more of an asset, but if the price is going up you are likely to hold that asset and concentrate on other assets, the use in Crypto is very heavy as that asset class is consistently changing on a very frequent basis.

Terminology Corner

Photo by Anne Nygård on Unsplash

Dollar Cost Averaging(DCA): The technique in which most liberal portfolios participate in, the concept states that once an assets price goes down, you are likely to buy more of an asset, but if the price is going up you are likely to hold that asset and concentrate on other assets.

Conclusion

The End

Before we go, I need to say thank you to all my followers on Medium. Please Like, Share and Follow.

If you liked my content, Check out my blog and other content with all the links are below. Check out my other content, like my Instagram and YouTube, and my other social media.

The link is below. As are all of my social media and so is the pod!

Find me on Instagram and on Twitter and do DM me about questions to talk about and write about in my blogs and videos.

Listen as well to the On Your Own Two Feet Podcast. EP2 will be on other platforms, we’ve got a great interview coming your way.

The On Your Own Two Feet Podcast will be Available where ever you listen to podcasts Episode 2 will drop sometime next week. Please check out my links to get access to all my social media including the podcast and please check the pod out as well as it takes longer than the blogs to make and edit it as well as more man hours to do as well.

Links

Thank You and see you next week.

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Hi!! My name is Akshith. My primary goal with this blog is to create a centralized community of investors around not only the US Stock Exchange but also around concepts like Venture Capital and Real Estate Investing.

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Akshith Konda

Akshith Konda

This is gonna be fun!!

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