This blog is active for a few years now, and I never wrote any word related to criptocurrency. Now it is time to do it because everybody is talking about the virtual. I have spent a few weeks investigating, reading and watching videos of this topic, and why not, maybe I would invest in them. The most famous coin is BitCoin, who is being used since 2009, and it is also commonly used in the cibercrimen world. But there are more, like Ethereum, or even OTX octanox (a new coin that it will be famous in a few months), ….
Cibermoney, a high risk market
Although the virtual money started to be used some years ago and they are perfectly “real money”, only a few months ago this virtual money is in the news almost every day (well, maybe you are a freak that you already know about it, but it wasn’t my case!). It is really curious that the group of people that founded and invest in BitCoin, today they are millionaires by only creating a coin with 8 decimals, who’s value reached even 5.000 $ for 1 Bitcoin.
It is a high risk market because the value change a lot … even during single day. This means that today you can buy some money, and maybe tomorrow it worth x/100 or x*5, and you need to be careful, and have no hurry.
By now, I have no money invested on any criptocurrency, because I am already learning the basic lessons of this world.
You car read the next article related to what is bitcoin.
Learn some vocabulary
Let’s begin with the first step: learning some vocabulary related to economy, and even more specific because of the digital world. My recommendation is to watch this video (I have a different video in the spanish version of this entrance):
If you have watched the video, you can understand that the second step is having a referenced web page where you can see the criptocurrency market. My advice is http://www.coinmarketcap.com/ (there are more, of course), and you can see that there are more than 100 different virtual coins.
Patience
I have talked to different people with a lot of experience in this world, economy and finance, ciber finances, and criptocoins, and all of them told me the same advice:
You have to have patience
It must be obvious that investing in cryptocurrencies can be a high benefit activity, but only in the long run. Time has demostrated that cryptocurrencies are “on fire” and more and more people are investing on them, becuase knowing the basic of this world in a must!
Going back to Bitcoin, there is a “cool” documental related to Bitcoin and its history (in spanish, it is 56 minutes but it worth it), and how the digital money is being used in today’s world. That’s a good start!
By now, you have a lot to read and watch, but there will be more in a new entrance.
Read you soon, and happy coding!