Advise to Crypto user.

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Avatar for Excelord
2 years ago

Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It is a peer to peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money carried around and exchanged in the real world, 

Cryptocurrency received its name because it uses encryption  to verify transactions. This has to do with advanced coding in storing and transmitting cryptocurrency data between wallets and to public ledgers. The aim of encryption is to provide security and safety.

Cryptocurrency sometimes called crypto-currency or crypto, is any form of currency that exists digitally or virtually and uses cryptography to secure transactions.

Cryptocurency is a big time investment, in which almost everybody in the world is involved, some countries have even legalize the use of crytocurrency for transactions purpose. And they are several cryptocurrency in which one can invest in, example, bitcoin, ethereum, smart chain, tron, solana etc. cryptocurrency are created through a process called mining, and Users can also buy the currencies from brokers, then store and spend them using cryptographic wallets.

Cryptocurrency is a good business to invest on, because it very profitable and at the same time very risk, and it has to do with patience.

Many people often venture into cryptocurrency all in the name of making quick money, without even knowing fully well that they is risk involved in it.

This article is to explain to everyone who want to venture into cryptocurrency, things they need to know before investing in any crypto or before buying any coin either for holding sake or for selling sake.

1) it involves taking risk: cryptocurrency is not as smooth as you think it is, before venture into crypto business, you must know it is risky, although everything about life is risky, no body can make it in life without taking certain risk. So in cryptocutrency taking risk is essential. The more the risk the more your return likewise your loss.

2)it involves patience: cryptocurrency involved patient, you must be a person who has patient, because some time, some coin spend years or month before they will fully mature, so if you are not patient, you might end up selling at low price, for instance in the case of bitcoin at first the price was very low, but as at last year the price was high, so those who have patient to hold a coin tend to gain more from the coin

3)Dont borrow money to invest: cryptocurecny is a risky stuff, that is why I often advise people dont to borrow money to invest on it, or better still dont use money meant for something else to invest in it. (Like school fees money, rent money and others) because you might end up losing all your money or even gaining more money. It a risky stuff. Alot of people have invested 50$ and ended up get 300$, while some invest 50$ and end up seeing 5$ so it depends

4)once your coin fall definitely it will rise back: this is where alot of people are having issues, cryptocurrency often fall and rise. One thing is certain once it falls it must definitely rise, but some people who can't be patient will quickly go and withdraw their money from it and when it definitely rise back they will be regretting.

cryptocurrency is just like bet9ja and also like any other beting platform because both of them involve taking risk, and the higher the risk the higher the profit, like wise the loss.

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Avatar for Excelord
2 years ago

Comments

Yeah right 😊

$ 0.00
2 years ago

ya..your right,crypto is very risk and we need a lot of patients here otherwise you loose your money..

$ 0.00
2 years ago

Yes. Just like the proverb, patient dog eat the fastest bone.

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2 years ago

Yes. And it the only business where u can have millions of coins and yet the value is not even up to 1$. Especially when u get the coin through airdrop.

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2 years ago