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The Ultimate Beginner's Guide to Cryptocurrency Investing

 Beginner's guide to investing in cryptocurrency

Table of Contents

Educate yourself or acquire knowledge

Knowledge is very important here, make sure you know at least the basics of cryptocurrency before going to invest. There is fun in doing what you understand because even if something goes wrong you can figure out the causes and try not to repeat the mistake. it can also help you understand the crypto market behavior during engagement. But if you don’t know what you are doing or you’re just following what someone is doing, you cannot be successful in the long run even if you are succeeding currently. 

As a beginner, you can learn everything about cryptocurrency on this blog or you can start asking questions of what?, when? and how? Google and different sites will answer your questions, try learning as more as you can if you want to be an expert.

Learn books about cryptocurrency to gain more knowledge, you will discover the secret that most of the mentors and YouTube channels don't tell you, you will know everything about cryptocurrency and the technology behind it which is blockchain. I have learned a lot of books from different authors about cryptocurrency and blockchain, and today I am proud of being the best cryptocurrency analyst and investor. I will post here the best books to read about cryptocurrency and blockchain

But remember, knowledge itself cannot help you succeed, instead, knowledge that is placed into practical application is more valuable, so get the knowledge skills, and practice to turn your knowledge into real-life application. By doing so, you will become consciously aware and subconsciously experiencing what you’re aware of.

Start Engaging

After acquiring knowledge it’s time for you to engage in the crypto market by socializing, following news release sites, registering accounts on crypto exchange sites, interacting with different people who do the same cryptocurrency business, listening to YouTube videos about cryptocurrency, analyzing the chart, depositing some money and try buying, selling, transferring and trading.

By doing all these, you learn practically what you learned theoretically. When you practice in reality, you even remember what the theory was saying. By doing this engagement repetitively you will become naturally experienced and your mind will be part of the business. This is how people become experts and experienced in a certain field, they become experts because they have been learning and doing the same thing for a long time repetitively.

Create a plan

After you have engaged in the market, and grasped a lot of knowledge and materials about the market, now is the time to create a plan that works based on who you are, based on your goals, based on your lifestyle, based on your capital, and based on your ability to tolerate risk. 

You need to plan how you are going to invest in cryptocurrency, this involves having a strategy that guides you on how to buy, sell, and trade cryptos, when to buy, sell, and trade, and how to conduct both fundamental and technical market analysis.

 You need to have an investment strategy that works based on your lifestyle conditions. Don’t just copy other’s strategy and use it because it will not work for you.

 For example, a person who wants to be a Bitcoin day trader by trading BTC/USD with an initial capital of $2000 and doesn’t have another job to do cannot have the same trading strategy as a person with an initial capital of $100.

So, before starting to invest in cryptocurrency conduct individual analysis like capital, environment, family, and risk-bearing capacity because will help you to prepare a strategy that fits you.

Be systematic and consistent. Your investment strategy should be simple, easy to understand, and updated.

Back-test your plan

Backtesting is the process of applying your strategy by looking at the past market price data in comparison with the present or future data that has been reacting.

Backtesting helps you to know if your strategy will work as expected when applied in the market. Through backtesting, you are trading in a real active market and you must involve your actions as if you are running real trading.

Backtesting is good if you have created a trading strategy.

Have a list of some special mentors, education sites, and news release sites 

Have a list of some special mentors, education sites, and news release sites that you will be following and guiding you sometimes when you encounter problems and you need help or when you want to learn about something new that seems to be missing in your strategy. 

These tools are very important because we are not perfect always, we learn every day from different people and from different resources, so do not think you have mastered everything because the market changes every day, so if you don’t change as well with the market you will remain behind and start wondering why the strategy that was making me successfully last year is not working today.

Be positive even in negative situations

Some people become successful from the time they enter the market for the first time, and some people fail when enter the market for the first time. 

One philosopher said, “Failure is a massive part of being successful”. If you are trying your best to do what your heart desires and you are failing most of the time, you don’t have to complain or give up on what you do, you just have to keep going, and keep doing because the more you fail the more you learn and the more you become close to success.

If you go and ask many people who seem to be successful and experienced investors and traders in forex, crypto, and the stock market, you will find that it took them a lot of failures and struggles to get where they are today. Why they are successful today because they didn’t give up on what they were doing and believed.

Be patient.

When you join the crypto market learn to be patient because success is not an overnight process. You need to keep experiencing the market, learn the market behavior, and learn what drives the crypto market price up and down until you become conscious aware, and subconsciously experienced. 

Cryptocurrency is a good investment market if you believe in the future. It yields a lot of returns on investment, but the problem is the difference in time between the time you invest and the time you get a return. Those who don’t tolerate or don’t have the patience to wait to close their investment earlier before the crypto skyrockets. This is one of the biggest problems with many investors who join the crypto market by believing that it can give profit faster.

Be careful with scammers

When you learn and fully grasp the knowledge of cryptocurrency, the chances for you to be scammed are very minimal because you will be doing many things alone with only your mind as a guide. 

There are many people out there who act themselves to be best traders or investors, they persuade people to take their money and deposit so that they can trade or invest on behalf them and give higher profit which at the end of the day when you deposit your money to them they disappear and leave you alone complaining and nowhere you can report due to the anonymity of cryptocurrency industry and it's uncontrolled nature.

Do not believe anyone who comes to you and promises to give a high return on investment, they are all scammers. A good investor or trader will teach and guide you on how to do and what to do and do not want you to give money so that can do for you. 

Learn to do it yourself or have a mentor who guides you on what to do and how to do it.

Now you’re on the way to go

Start investing, trading, buying, selling, transferring, earning, learning, and making money online with cryptocurrency, and enjoy your life as an educated, experienced, and successful crypto expert

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Beginner's insight about investing in cryptocurrency


       “Invest yourself in knowledge first before you invest your money”

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