Note: Please be aware of investing all your money in one card – cryptocurrencies, it’s tricky and I don’t recommend it at all. The purpose of this article is to share my excitement about cryptocurrencies and tell you the basics, which I know.
I am not an expert, I don’t know much about cryptocurrencies, but I want to describe my amateur experience to you.
You might have heard about cryptocurrencies or not. Nevertheless, it’s the number one topic nowadays and you should consider reading this article!
I’ve never been interested in normal investing in the funds and etc., even though many clever books about financial freedom talk about it. I realise the importance, but I just don’t want it now.
I can easily understand cryptocurrencies, that’s why I prefer them more to other investment schemes.
The minimum of money you have to invest into cryptocurrencies might be $100.
Cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify thee transfer of assets.
Ordinary characters of cryptocurrencies are:
- decentralization – currency is not under the control of the government or any other political institution.
- transparency – it’s fully transparent, thanks to the General database called blockchain, which shows all the transactions inside the network
- low or no fees for transactions
The most well – known cryptocurrencies are Bitcoin, Ethereum or Litecoin.
Bitcoin used to be mined very much in the history, it’s common as well nowadays, but not so often. It’s hardly more and more of mining Bitcoin, it’s computationally demanding. I know a few people who mined Bitcoin, but then their computer broke and all the Bitcoins disappeared because they didn’t have any backup.
So what’s according to me better now, is to invest in Bitcoin or other cryptocurrencies and trade with it and if you invest a lot of money, store Bitcoin in Trezor, for example. .
I’ve heard a story about Bitcoin beginnings. At one discussion forum somebody wrote:
“Hey, who’s gonna deliver pizza for me? I’ll pay one Bitcoin’’ This was the first Bitcoin transaction, and the most expensive pizza in the history. ($15,047 – December 2017).
And now – my Bitcoin story!
I used to work as a graphic designer teacher and earned my first money $20 in Bitcoins in 2016. I didn’t care about it, I had the bitcoins in my wallet (BitWallet) and one year later, I checked my wallet for fun and found out that I own already $180. Wow! I was so excited, that was the first time I really started to be interested in Bitcoin.
I am not an expert to predict whether Bitcoin will rise or not, but I trust it so I invested more money into it.
It’s very risky investment, so one needs to be careful and don’t invest all your earnings or savings. I take it as a game. I can earn a lot or lose.
A lot of people says that’s just a big bubble. So be careful, once again!
How can you invest?
I will describe my own experience. There are many options on how to invest. I personally use and recommend Coinbase. I invest just small amounts of money, the fees are low there and it’s easy to use.
- Visit website Coinbase and create your profile there. If you click on my link and invest at least $100, you’ll receive $10 as a bonus.
For Example, Everything is completely for free BUT, there are some small fees included. If you invest $100, the fee might be $2 per this transaction.
- You can always send the money to the Euro account and then send it to your bank account and that’sit! I finally downloaded as well mobile app, where I can set up the notifications when Bitcoin rises up or decline.
So I can easily sell or buy Bitcoin or other currencies when it’s necessary with Coinbase.
That’s all for me for now. I hope you enjoyed this little piece. I take it as a game, so if you want to try it! Go for it☺
With love, Linda.