Basic Crypto Facts you should know

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18 Apr 2022
110

When investing, the first thing you need to remember is to educate yourself and comprehend what you're getting into, whether it's crypto or any other asset. 
Before investing a single dollar in cryptocurrencies, you should familiarize yourself with the fundamentals.
If you don't know what you're doing when investing in cryptocurrencies, you might lose a lot of money. 
Listed below are a few of the fundamentals of crypto money:

  • As a result, it does not exist in any tangible form, such as coins or paper money. Remember that cryptocurrencies may only be obtained online or on a personal computer.
  • It may be applied everywhere. Digital currency may be used in nations and across boundaries. Paying for goods or services in China or Alaska with Bitcoin is possible if you have the money. So you don't have to worry about converting it to yuan or dollars.
  • It's a perfect match. The only way to do a crypto transaction is online. To send digital money to another individual, you must do it online.
  • Decentralization means that it is not centralized. Keeping track of your cryptocurrency is totally up to you. Cryptocurrencies and their investments are not regulated or protected by central banks or financial organizations.
  • It's named "crypto" for a reason: it's "secret." Alphanumeric codes are sent to users. They shouldn't register a bitcoin investment account using their names or addresses.


Also, See: 3 Crypto ETFs to Buy Now

Finally, I'll say this:

As a result, if you decide to invest in these assets, you should be aware that you are ultimately accountable for your own money. 
It's impossible to receive support from your country's central bank or an insurance provider if you have a problem with your cryptocurrency investment.

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3 Comments

B
Joanyxn
Very insightful!
Napes
great post with some great insights for those new to the game
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