Читать книгу The Book about Cryptocurrency №1. Second edition expanded - Viacheslav Nosko - Страница 11

The purpose of this book is to tell beginners about the crypto market and show that anyone can earn money in crypto. You don’t need to have any special education for this, you don’t need to buy a super-powerful computer for this.

You don’t need a lot of money to start working with cryptocurrency. Your first investment can start from 100 dollars.

Judging by these criteria, yes, it is easy to work on the market.

If you come just to play and then, after losing money, come out disappointed.

However, there can be another way. It is easy to work on the market, but you need to be patient and invest your time in learning and studying the rules of the game.

But first, decide: for what purposes do you need cryptocurrency, what do you plan to do on the market? In general, it is useful to define your goals every time you plan something new in your life.

What can be the goals when working with crypto?

The goal is to save your own funds. To save them from inflation and denomination by the state. To do this, you can make a portfolio of the top 5 leading cryptocurrencies and not worry when bitcoin suddenly goes down.

The goal is to make a quick buck on cryptocurrency. This goal is both realistic and quite risky. Why? The market is alive, it has high volatility, the situation on it can change in a matter of hours, for this you need to constantly keep your hand on the pulse and review the portfolio of coins every day. One should also know the mathematical laws, according to which one should invest in a particular currency. The chances that a particular coin will take off a few dozen times are small. It’s like winning the lottery. Will you be lucky or unlucky? We answer: the lucky one is the one who enters the market professionally and makes a portfolio professionally. In this case «quickly» can be from half a year to a year. Not a month, for example, as some inexperienced hamsters dream about it.

The goal is to become a trader and manage other people’s portfolios. This is an excellent goal, it allows you not to spend your own money, but to take other people’s assets under management at once. However, before going into consulting and portfolio management, you need experience and successful cases.

Goals may change, and that’s okay. You may want to become a trader, realize that it is not for you, but leave some assets in bitcoins and ethers just in case. Or you will enter the market cautiously to have a look around, but in time you will get involved and learn a new profession.

They say that to become an ace, a pilot needs to fly an airplane for 10,000 hours. It may take less time to become an ace at cryptocurrencies, but at a minimum, it will take you a few weeks or even months to begin to understand market movements, keep your finger on the pulse, and see how media reports and tweets can move the market.

Your advantage over where we were three years ago is that you will gain a lot of knowledge many times faster than we did. Good luck!