Crypto Currency
I've invested into crypto currency for over 1 year now and I have learned so much when it comes to trading, researching and even making income through mining opportunities. In this quick guide I will share with you a couple investments that I've made and what I'm currently doing to invest in these crazy times.
Investing can be hard especially when dealing with income you don't really have and then it feels as if you're gambling with it. Right now crypto is like the wild wild west and soon by end of year it should be regulated. SEC is in a battle with a couple crypto currencies which XRP being the major buzz. Hopefully after this year we will get an answer to what a crypto is and how we can invest.
Right now there is currently 19,000+ crypto's and many more coming if regulations don't happen this year. You can see them here at coinmarketcap also see the different exchanges that offer to purchase them. Keep in mind that ALL of these crypto currencies have not "officially" been regulated but if you do a little digging you'll see that there is crypto adoption EVERYWHERE.
During my first year of investing I probably lost about 1500 in day trading, fees with different exhanges and even getting scammed but also during this year I also managed to double my portfolio and learn A LOT about crypto currency. There is a couple things you need to learn about crypto before starting.
1. You need to have your own Digital Wallet. This will require you to write down 12-24 words. These will be a security measure just in case phone, tablet or computer is lost. This is to make sure that you own these currencies and no one can steal them "unless" your on a local wifi network and someone hacks your phone, you are still logged into a dapp or application with your wallet and that app/dapp gets hacked or some one sends you magical money to your wallet and you try to do something with it.
Notice how I said your money can still get taken aka HACKED... yes this is one of the biggest and scariest things going on in crypto and you need to know that it's there. You can see that anything can happen in crypto and these past days we've seen some pretty raw things happen like Terra Luna and the UST de-pegging from the dollar. So many people lost money and it's one of the worse things that happen in crypto in years... that's another blog for another day lol
So basically you need to be VERY careful on what you connect your wallet to and then you need to have OTP Auth set up for all your apps. Make sure to have signed transactions for all transactions under settings, this will make sure if your wallet does get hacked that they still can't take money because it'll require you to put the password for the transaction. I've heard stories and would hate that to happen to anyone.
There are only a few crypto currencies I personally invest into only because of regulations and what to expect in 2023+
Remember that this is what I invest in and I'm not a financial advisor but I do a lot of side work and furniture flipping. I do this so I can make a extra 500 a month to INVEST into these coins
there are many more that are ISO20022 compliant but I stick with these 3 as my top 3 and anything more that I make from mining I put in other investments. This exchange is actually regulated as securities in the United States and has a handful of crypto's that you can start investing in. This exchange is called INX.
Mining is another thing you can do with crypto that in my opinion is less riskier. I'll do a blog on this next week and what to expect/ where to start. I do have a quick link for a FREE one which is still available here.
It's called Helium and is going to be leading the new internet in Web3




