Getting started with cryptocurrency in 2022
You’ve probably read countless of Beginners Guide To Cryptocurrency and “how to invest in cryptocurrency” posts on dozens of different websites.
If you pay attention, one thing you’ll notice is that all these “beginner guide to cryptocurrency” and “getting started with cryptocurrency 2022″ are almost always very similar.
I’ve tried to avoid redundancy in my understanding crypto for beginners, but at the end of the day the process of investing or trading with cryptocurrency is relatively simple.
A beginner’s cryptocurrency guide can’t be long; it needs to be short and sweet.
I give something a value of $100 if I think it should be worth $100 when I sell it.
Another thing that beginner’s lack is a solid plan for investing.
They get hyped up and invest without thinking things though properly. This leads to hysteria, which then results in huge sell offs.
And who gets burned? The beginner investor who got too excited without doing his or her due diligence
Read more How To Profit on Crypto Bear Market
Cryptocurrency for beginners 2022
Whether you know a lot about cryptocurrency or not, this post is a must-read.
It was written from the ground up in order to simplify this fascinating and revolutionary new field of technology.
In these post, you will discover everything you need to get started in cryptocurrency investing or trading
So keep reading this post on cryptocurrency for beginners!
By now, you’ve probably heard of Bitcoin and the blockchain. But what is it and how does it work? And how can you get involved?
These are all good questions possibly running through your mind right now, and I am going to try to answer them in this beginner-friendly guide post
In a nutshell, Bitcoin is a digital currency that uses cryptography to control its creation and management, as well as to verify the transfer of funds between users.
It’s essentially an online version of cash that allows users to make secure payments over the Internet without having to trust third parties like banks.
The blockchain is a shared digital ledger that records all Bitcoin transactions. It was first introduced in 2009 as a way to confirm digital transactions without needing a central authority, like a bank or government.
It’s essentially a giant spreadsheet that keeps track of every single Bitcoin transaction from person-to-person or business-to-business, allowing everyone to see who owns what and when.
It’s important to note that Bitcoin and the blockchain aren’t one and the same thing. While there is some overlap
For example, both technologies use cryptography to keep track of transactions but they are distinct concepts with different applications and different uses for investors.
So you need to understand them while getting started with crypto
Crypto trading is an exciting new way to make money.
It can be difficult to get started, but with a little research and patience, you can start making money in no time.
There are a few things you need to know before you start trading. First, it’s important to know how to trade.
Cryptocurrencies are traded on exchanges like stocks or commodities.
You buy cryptocurrencies (like bitcoin or altcoins) on an exchange, then store them in a wallet that you have log in and security details.
Second, it’s important to understand the different types of crypto trading.
You can trade cryptocurrencies as a long-term investment, or you can day trade them for short-term profits.
Its very important to be aware of the risks involved in trading cryptocurrencies.
Like with any investment, there is always a risk of losing some or all of your money if the market crashes.
Beginners guide to investing in cryptocurrency
When it comes to investing in cryptocurrency, there are a few things you need to keep in mind.
First, you need to be good with math. Second, you need to know the difference between a coin and a token.
Third, you need to understand how trading works. If you can master all of these three things, then you can start investing in cryptocurrency.
It’s important to note that investing in cryptocurrency doesn’t come without risk
While it is possible to make money by buying low and selling high, that’s not always the case.
The price of cryptocurrency can go down just as easily as it can go up.
This is why it’s important to acquire knowledge on cryptocurrency for beginners to be cautious when they choose to invest in any type of investment projects in crypto space
Cryptocurrency basics for beginners
What is the process for trading cryptocurrencies?
Trust me your search for “beginner guide to cryptocurrency trading” end here today
Here are complete guide to cryptocurrency trading for beginners
They are 4 Things You Must Know as a crypto for dummies 2022 before you start trading.
I will tell you the truth, trading crypto is not about downloading Binance or coinbase on your phone and maybe buying a few coins.
No! It is more than that.
Follow me…..
I repeat “ in crypto is not about registering on binance or coinbase and buying a few coins” you actually need beginners guide to trading on binance or any other exchanges for crypo trading/investing
Number 1
Learn the crypto basics for beginners; This is NOT Negotiable.
I know you want to rush off and start cashing out like your friends, who are making noise every day on their whatsapp status or twitter and facebook profile about their crypto gains or profits
Though you might not want to hear it, I will tell you the truth… If long-term crypto wealth is what you desire, understanding crypto basics for beginners is a must.
People who skip the basic cashout quite alright, but in a short time, they soon lose everything because they jumped the steps to start trading cryptocurrency
I had this guy Femi… he came complaining bitterly to me. He said “It was like someone used jazz on me, the whole money I made just disappeared like smoke”
There was no jazz, he jumped the crypto trading guides and was paying for signals and placing trades by himself. Well, it came back to bite him.
There is something these people won’t tell crypto newbies, because they only want your money…they would tell you ‘’with just signals you’re good to go. How??
What of the basic things like…
A good risk management approach.
Profit-taking plan.
Good Market sentiments analysis… etc
These are the basic things you should know first and it’s nothing difficult at all.
Knowing the basics would save you from lots of headaches and heartbreak, you’re in total control of your cryptocurrency.
Unlike our money in the bank. You’re in charge, if anything happens, there is no customer care to call and shout on… that is why following crypto starter guide is a must, so at least you know how the system works.
Don’t let anyone fool you into anything, which would be difficult if you’re patient enough to just learn the basics.
Talking about understanding crypto for beginners – below are some terms in crypto you are supposed to know, so you don’t get lost when people are discussing crypto.
Number 2
Thing you need to know before investing in crypto
Know the cryptocurrency investing basics: Buy low, sell high with proper risk management, so you don’t lose everything.
There are some basic things crypto gurus on internet won’t teach you.
And thats having plan about your investment strategy that suit your need
Hence, you will know when to know and the right time to sell for profits
Number 3
Have financial discipline:
Have financial discipline! Invest in coins only when you know it is the correct time and have potentials (this is what the understanding of the market is all about
Don’t invest because you have some money or someone recommends it.
Don’t be like a tree; the wind blows to any direction it wishes, be disciplined!
This is the hard truth, but I must say it, I want you to understand these things.
4. Youtubers? Don’t take it: I have warned all my students against listening to everybody on the internet.
The wrong information is more dangerous than NO information at all.
Youtubers go with the trend. They will say and write anything to get you to watch their videos. But there is a hack I use when listening to crypto YouTubers;
I discover the reliable ones and don’t take their suggestions. Then, I watch out for something… And that is how they make conclusions. That is a great hack
Best Way To Get Started In Cryptocurrency And Become An Expert In Shortest Time
Yes, it’s possible to become a crypto expert in a short time even as a newbie
Anybody that says it’s not possible, is simply going about it the wrong way.
But experience comes with consistently learning, studying the market and placing trades and investments.
When you follow tips for beginners in cryptocurrency I’m going to show you in this beginners guide to crypto, in 3 months max, you can become an expert investor.
I know because my students do that and in 3 months they are already doing great and making good profits for themselves.
NUMBER 1: STUDY
Study the cryptocurrency market:
You should Know this; To become an expert in crypto in a short time, you have to understand how to study the crypto market… this simply means, understanding what moves the price of crypto.
This singular knowledge has made me an expert in the crypto space and made me a lot of money using without wasting time on chart like others
With the knowledge of the market, you almost never lose money.
And the funny thing is… It’s very easy to understand, but people don’t know it.
Crypto price is determined by how much interest there is on the market in buying them – that’s called demand – and how much is available to buy – that’s supply.
The relationship between the two determines the price.
Do you understand? Read that again!
One thing I observed from studying the market was that when ever a market experiences a very sharp rise in price within a short period of time, it is usually followed by a consistent decline.
I understood it to mean that people start taking profit and they don’t want to lose out on the profit so they sell the crypto asset
If there is significant demand for a particular coin, but the currently available supply is limited or small, then the price increases.
It’s very important to understand the cryptocurrency market if you’re interested in profiting big time from crypto and even before you choose the Bitcoin or Altcoins you want to invest in.
Number 2: THE PLAN
Create a plan: Start by assigning a budget for trading and sticking to it.
This is the first exercise I do with every one of my students.
It’s compulsory for every one of my students to have a Trading Plan and so together we create a Watertight Trading Plan according to each person’s budget.
Anybody that claims to be an expert and doesn’t know how to create a plan… as a matter of fact, only a few people know how important this is.
That is why you should be very careful when choosing a mentor The cryptocurrency market is always fluctuating, that’s why it is important to stick to your plan.
Cryptocurrency is a high-in-demand digital currency that works as an asset (your own property) with the potential of greater gains.
And it’s not going anywhere. However, if you understand the basic know-how, work according to a plan and follow the above steps, you can become a Cryptocurrency expert in a short time.
NUMBER 3: THE COMMUNITY Join a Result Driven Crypto Community
As a newbie, it is also important you join a crypto community, where everything they talk about is crypto.
But you need the guidance of your mentor to direct you into the right community, so you don’t saturate your mind with the wrong information from a community of fake experts. That’s how I learned.
NUMBER 4: The Mentorship Invest in a mentor who trades and invests.:
The worst thing that can happen to a newbie is trying to gather information about crypto online.
You would. There is plenty of information on the internet that you would get so confused, your brain would cry for help.
Different people with different tactics and formulas.
You need a mentor who doesn’t just teach, but trades and invests to hold your hands.
For example; I have been on this path for a long time, I have made lots of mistakes and I have learned a lot of market hacks and strategies along the way
Things you can learn only by actually trading and investing My students don’t have to make those mistakes I made again, they don’t have to trade for 3 years to learn those hacks and strategies, because I would pass it on to them.
This would push them up the expert ladder in a very short time.
They won’t have to rely on guesswork or trial and error.
Having a real mentor is just like going to a strange city for the first time with a map.
You wouldn’t waste your time stopping at every junction asking for directions… you wouldn’t miss your way because of the wrong direction.
With a map, you can get to your destination in a very short time without unnecessary difficulty.
You can now agree with me that getting a correct mentor is the most important thing you must do as a newbie to the crypto space.
Congratulations, if you have read to this stage!
If you are crypto enthusiasts (crypto passionate) who is read to profit daily from crypto space
Incase you are someone who is ready to learn and implement till you start getting result
Are you someone who have capital invest to build wealth for yourself in cryptocurrency space
Then, join my network to learn more about cryptocurrency updates from me on my email newsletter and whatsapp status
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To your success
Durodola Bolaji
Crypto Investor Coach
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