Hi! I’m Jennifer, and I’m a crypto newbie who’s decided to take the plunge and learn crypto – and I hope some of you out there will help me on my journey.
As a crypto newbie, I’m probably in the same boat as many of you when it comes to how to learn crypto. We’ve likely heard popular terms like “Bitcoin” and “blockchain.” And we’ve probably heard how anyone who invested early in Bitcoin is a millionaire by now. (If only I had a time machine…!)
My journey to learn crypto began with a lingering curiosity to dive behind the headlines and gain a deeper understanding. And as I’ve researched and learned more about crypto over the past few weeks, that curiosity has grown even more. That’s why I’m beginning a seven-part series to document my journey learning crypto. Over the next few weeks, I will be posting every Monday about where I’m at in the process and I’ll be asking for your help for what to do next. That’s what friends are for, right?
This week, I’m sharing a little bit more about why I decide to embark on this journey and what I’m hoping to learn. See you soon!
The appeal of crypto
As a newbie to crypto, I was content to simply read the headlines in the news and not think much of the crypto world. Will cryptocurrency really catch on, or is it just a passing fad? After all, how could I believe that something called Dogecoin, which started purely as a joke, would ever be worth investing in? I guess it’s a part of the crypto community, but I have a lot more questions about these dog-coins.
Well, as I’ve already begun studying crypto, I’ve seen that it is appealing to people for many reasons. Perhaps the biggest one is that it’s not dependent on centralized control. There are no governments artificially setting the currency’s value and no banks acting as middlemen in your transactions.
This sort of decentralized structure has the potential to disrupt the financial system and banking industry as we currently know it. The current system is based on trust: you have to trust that the government won’t artificially inflate the currency and change its value. You also have to trust that your bank will hold on to your money securely for you.
Crypto creates a secure, trustless system that gets rid of any need for that. The fact that the system is not under any single entity’s control gives power to everyone rather than concentrating it in the hands of a few. The decentralization of cryptocurrencies like this is an exciting prospect.
What I'm hoping to learn about crypto
I have a few goals as I begin to learn crypto:
- Familiarize myself with the culture surrounding crypto and learn what popular cryptocurrency terms mean.What exactly is a Bitcoin? What are altcoins and memecoins? What does it mean to “HODL”? What is “mooning”? What is Which ones are reliable, and how can you tell? Are there any ways to tell which ones will become big? Is it even worth investing in memecoins, or would it just be throwing money away?
- Create a crypto investing strategy that fits with my financial goals. Ok, so say I’ve decided on which coin to buy. But what will my strategy be for protecting and growing my investment? Do I need to be checking the crypto’s value weekly? Monthly? Even less? Should I just buy and hold and check in again far in the future? Or do I do a mix of long-term and short-term strategies? Should I try staking my crypto?
- Learn about the technology behind investing (exchanges, wallets, etc.). Should I simply sign up for an account on Coinbase and be done with it? Or should I move my crypto into a separate wallet? If so, should it be hot or cold? And what type of exchange should I join? Centralized or decentralized?
How I plan to approach my journey
Like any potential crypto investor, I still have some remaining skepticism. Is crypto here to stay? Is it a worthy investment? Is it better than investing in traditional stocks? How will crypto impact the financial markets? What does its future look like?
Crypto enthusiasts will tell you yes, crypto is the future. But there’s still enough doubt from voices on the other side of the debate to give one pause. However, what I’ve already learned about crypto has piqued my interest and encouraged me to approach this journey with an open mind.
Based on everything I’ve learned so far, I already think that investing in at least a little crypto is a good idea, and I’m definitely interested in doing so. Especially when it comes to the bigger coins, it seems like crypto is around to stay and that it’s only a matter of time before it becomes even more mainstream. Will you follow along as I learn crypto?
- Bitcoin
- Ethereum
- Tether
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About the Author
Michael Hearne
About Decentral Publishing
Decentral Publishing is dedicated to producing content through our blog, eBooks, and docu-series to help our readers deepen their knowledge of cryptocurrency and related topics. Do you have a fresh perspective or any other topics worth discussing? Keep the conversation going with us online at: Facebook, Twitter, Instagram, and LinkedIn.
