Cryptocurrencies, often considered the “wild horses” in the financial landscape, involve a level of volatility that remains mainly shrouded in mystery, representing a territory that’s yet to be fully explored, developed, or comprehended by the better part of investors. Like any other investment category, numerous aspects must be understood and tackled before one can call himself ready to buy Bitcoin online and make transactions or trades with it.
However, the last few years saw the popularity of cryptocurrencies, with Bitcoin heading the list, skyrocket to unanticipated levels. Bitcoin, the largest cryptocurrency by market capital, has already hit an ATH of around $68,789 in November of 2021, rewarding those who were quick on the uptake to take advantage of the expanding trend.
You’re into all sorts of crypto-learning resources
Podcasts, books, articles, blogs—you name it! You can use hundreds of resources to boost (or brush up on) your knowledge about crypto, whether you’re a newbie or have just taken a break from the industry that came at the cost of your expertise. From business and finance to the philosophy behind digital money, as well as previous failed attempts and complex technicalities of the system, there’s hardly any topic in this industry yet to be covered by experts and specialists.
If you’re into listening while conducting other tasks or lying with your eyes closed, then here are some of the best podcasts to learn about Bitcoin and cryptocurrency in general, depending on where your needs lie:
The ‘What is Money?’ Show – among the most helpful guides to learn about the philosophy behind the Bitcoin concept
- Empire – a far-reaching podcast aimed at providing general crypto knowledge
- Epicenter – the ultimate podcast for grasping the technicalities involved
- The Bad Crypto Podcast – the go-to for novices in the industry
- The Pomp Podcast – suitable for finance and business advice
- The a16z Podcast – a reliable pick to grasp venture capital
- Unchained – best resource for crypto breaking news.
Consequently, assuming you’re the type of learner that relies on visual memory, then the following examples rank among the most applicable written resources that can help you remove some of the mystery encountered regarding the cutting-edge technology and concept of digital money:
- The Everything Guide to Investing in Cryptocurrency – one of the most dependable resources for newcomers
- Bitcoin Billionaires – a favorite pick for light readers and those interested in learning about blockchain and crypto investments
- An Altcoin Trader’s Handbook – depicting the ins and outs of altcoins like Ethereum and Binance Coin
- The Internet of Money – a written version of a famous writer’s radio shows, live talks, and podcasts
- Digital Gold – a dossier on Bitcoin from its humble beginnings to the boldest cryptocurrency.
Real estate is too much
Although cryptocurrencies are regarded as some of the trickiest and most volatile assets to date, one can’t deny that they’re also the ones that make the most room for returns on investment. An investor can hardly see that kind of colossal reward like more than a one-digit YOY spike in sectors such as real estate like it has been happening with the crypto industry.
With the rising appeal of cryptocurrencies that’s especially applicable for the millennials and Gen Z, the valuation and price of the leading digital coin is justifiably awaited to rise at some point. Most financial analysts and experts place the bet of cryptocurrencies’ prices bettering when the global economic landscape improves and inflation rates lower.
However, for the moment, real estate can be too much of a burden or provide too little of a return to be worth the effort for an ample palette of investors. Due to the low liquidity in the real estate sector that’s out of the table in the cryptocurrency industry, Bitcoin has also risen over time as a more reliable option for investors who are less comfortable with the possibility of being limited regarding their selling time and opportunities.
If you’re looking to cash in on your investments at any moment, specifically in crisis times, cryptocurrency might be your best pick. While a property can take up to several months to be sold at a decent price, your Bitcoin can be exchanged for money online in a matter of moments.
You’re comfortable with risky assets
If there’s a general truth unlikely to be denied or dethroned shortly, it is that cryptocurrencies are among the riskiest assets to date, regardless of their name. Bitcoin, as widespread as it is, makes no exception from this rule, so one thing that you should be comfortable with before deciding to pour money into these assets is to ensure you’re not destabilized in case your capital’s going to waste. Furthermore, it’s equally essential to be at peace with your choices and not experience unminimizable consequences should you not see the expected results after investing in cryptocurrency.
High-risk types of trading, such as day trading, have long proven lucrative for those eager to expand their knowledge, trading skills, chart reading skills, risk management strategies, and other aspects critical for this undertaking. This entails accumulating and getting rid of an amount of crypto on the same day, taking advantage of small upswings in prices. Therefore, this method isn’t for the faint of heart but for experienced and vigilant investors who can keep tabs on their investments from A to Z.
You’re not the type of investor who drops investments impulsively
75% of circulating Bitcoin is held by long-term investors, according to Glassnode, which notes that these account for the better part of BTC holders on the network. And there’s a sound motive behind their unwillingness to drop their assets too soon or their representation as the most stable hands.
Bitcoin, like any other cryptocurrency, is not the type of investment you buy or get rid of out of impulse or under the pressure of feelings like FOMO (fear of missing out) or FUD (fear, uncertainty and doubt).
Suppose you can maintain a long-term investment horizon, adopt a patient, forward-looking approach, and resist the urge to hunt for short-term gains. Then, you shouldn’t be influenced by anything happening in the crypto world, successfully focusing on your future financial goals.
Now that you know what makes a prepared Bitcoin investor, how would you feel about adding it to your portfolio?
