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Cryptocurrency Investment: Easy Money or Not?

Is investing in crypto easy money? Many have been lured into investing in Crypto because there are so many influencers out there telling people that they have earned a lot of money by investing in crypto. But what is the truth?

Investing in Crypto: Easy Money or Not?
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For the short answer, investing in Crypto Currency is not an easy thing to do, it requires learning and experience. Don’t just believe those people who have shown you videos of their earnings, Im sure those people will never share their losses or else you wouldn’t watch their videos.

Why many people are Lured into Investing In Crypto?

First, let’s talk about why many people are easily lured into investing in crypto. Here are some of the reasons why I think people are easily lured into crypto investments:

  • It Looks Easy – Unlike other investments out there, investing in crypto was promoted as an easy no brainer investment by many influencers and articles. Most articles and videos tell you that all you need to do is buy, hold, and wait for your investment to grow its value.
  • The Investment is Low – Crypto was promoted as a low startup capital investment. you can invest for as low as 10 dollars and you already have a crypto account, unlike other investments that require lots of money.
  • High Rewards Promise – Many cryptocurrencies promise a high reward making it a very promising investment.

I think these are the top reasons why people get attracted to investing in cryptocurrency.

Why Investing in Crypto is Not an easy money

Investing in crypto is not an easy money like how it is portrayed in online Social Media, you need to learn a lot of things before you put your hard earned cash into cryptocurrency.

Investing in Crypto: Easy Money or Not?
Image by Jan VaĊĦek from Pixabay

Here are some of the things you need to understand and learn first:

Cryptocurrency: The Hardest part is choosing which crypto to invest your money in. There are tons of cryptocurrencies out there but which one should you put your money into?

The truth is most of them can give yield if the timing of in and out is right. but we don’t want to gamble on that kind of luck and chances don’t we? So the best thing to do is to have a basic knowledge of crypto first. 

The next hard part is understanding the use of platforms and software that you need to use to cash in and cash out.

Technical things you need to learn are the following

Crypto Exchanges:  you need to learn how to use this so to know which crypto is performing well or badly. In exchanges, you will also learn how to convert one coin to another. And of course, you will learn how to CASH in and CASH out. The most trusted exchange that I use is Binance. I’ve been using it for more than 3 years now, and I can say that it is one of the best and most trusted exchanges that crypto enthusiasts can use. If you don’t have a Binance Account yet, Click here to register

Crypto Wallets:  Learning about crypto wallets is a must because this is where you will store your crypto. Learning crypto wallets includes learning about crypto addresses and their network.

Don’t just throw your money into crypto without understanding the crucial factors related to it. Jumping in without learning about it will surely give you a headache and rattle you.

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