The adoption rate of cryptocurrencies is fastly growing. If you compare it to the curve of internet adopter, you can see them rising in a similar way.
While many expert traders are in the market, and made their own fortune, this means that many more are new came. And they are all here to make their one. The first way to do it is to learn for the wiser, and more expert. But what I found is that some of them sometimes are too expert, too familiar, too engaged.
Anything you are interested in (exchange, crypto projects, protocols, APY, APR, gaming) you are going to find tons of informations around. But your time is limited, your wallet small, and your brain is burning. So what?
I have been in crypto for some time, and I have been struggling with the same issues. That’s why I want to share my learnings, address to my mentors, rise my caveat, to help others to make their training more efficient.
My first suggestion is: diversify between what you can — and eventually should — do immediately, and what you should take a little to evaluate.
Here’s some things you can do:
- If you just read that some guys got billionaires with crypto, and your only hashtag to make a search is #crypto, you are not going to get many learnings. Start with the basics: Bitcoin and Ethereum. You need to literate a little, and the best way to do that is to make some research on these two giants: why Bitcoin is a game changer, which are the differences between BTC and ETH, what does “mining” mean, what is a proof of stake and a proof of work, and the main topics you will find on general discussion. If you don’t want to simply google it, you can easily find explanations on the main exchanges (see later).
- major exchanges are platform where you can find valid information. You can easily sign in all of the, for free. But my suggestion is to take a minute before doing that. All the major exchange have referral programs: subscribers are invited to involve new users, and both of them can have bonuses and advantages form the referral. If you want to subscribe to one — or more — platform, use a referral: at leas you are not going to loose a potential benefit the moment you should decide to start trading, and eventually can have some free money/free transaction to benefit from. You can find my referral at the end of the articles for the three main exchanges as from following chart, but the important thing is that you use one — whosever it is.
- social media are relevant: actually, they’re the more complete, update, vital, real time place to literate. You can find valid courses online — we’ll go back on that, and some for free. But social media are the natural first step. Go on twitter and start following the topics you are interested in. If you are already familiar you can pick up some specific keywords/accounts: maybe you are an F1 fan and are interested in crypto.com, or are a game player and are already familiar with Axie Infinity. Otherwise start with #Bitcoin and #Ethereum and the keywords of your first research. What you don’t like or don’t understand is as relevant as what you understand and like: unfollow accounts, profile, tags you are not comfortable with. They can make “noise” in your feed, and you are free to come back later. Do the same at least on Instagram and Youtube.
This is more than enough for the first days.
On my experience, this first steps you are taking are the same that, on a different level, with a different awareness and different consequences, you are going fo keep doing even afterwards.
When are you going to be ready for the second step? That is very easy: when you are ready to explain what you read to someone else. If you are not able to explain in a sentence the concepts of point #1, you should allow yourself more time to understand these topics.
My last suggestion is: create clear fundamentals to understand this world. You’re still early, and perfectly in time to be an early adopter, and benefit from that.
But like any skill, regardless it is professional, sporty, technical, there’s a learning time you need to dedicate.
Enjoy your trip.
Binance: the largest crypto exchange by trading volume: includes a wallet, research tools and a useful academy,
Bybit: probably the best and cheapest place to understand financial ops. Very cheap trades, and hundreds of dollars of incentives and bonus
Coinbase: one of the first and most used platform, at the beginning. Available in many languages. It is used by inexperienced traders, but progressively less by experienced ones.
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