WHERE DO I START?
1.GET TO KNOW THE BASICS OF CRYPTOCURRENCY/BLOCKCHAIN
Before you invest in anything, you need to have a basic understanding of what you are getting into. Crypto is very volatile. You must be mentally prepared for extreme price swings both up and down.It can be scary, frustrating and confusing, but it can also be fun, challenging and rewarding.I have placed a few links below to get you started. After you have a better understanding of what blockchain and cryptocurrency is, you will be able to decide whether or not investing is right for you.There are thousands of resources available, but here are few that keep things simple and easy to understand. You will also find numerous resources here.Definitely spend time under the Study Resources.
VIDEOS TO WATCH:
2.BECOME FAMILIAR WITH TERMS USED IN CRYPTOCURRENCY.
Cryptocurrency has its own sets of key terms that you will hear repeatedly.Become familiar with them so that you will know what people are talking about. See CryptoTerms/Definitions.It's important to spend some time going through each term, clicking on the individual word and truly learn what they mean.
3.FIND A GOOD MENTOR.
Finding someone who knows what they are doing or who will steer you in the right direction is key. That is why I created this website. There are so many so-called experts in the cryptocurrency space that it can be overwhelming and difficult to find someone who you can believe or trust. Some people will try and take your money, some will steer you toward coins they are personally interested in and some will direct you to their "pump and dump" groups. Some have NO idea what they are doing at all.If you do not have a mentor, join a Facebook or Discord group that will answer all of your questions.See Resources for some groups I have found to be helpful.
If you are a woman, you will find a number of knowledgeable women in the crypto space.Click here for a list of women you may want to follow on social media. Take time to read through their bios and gain insight into how they got started and how they are involved in the world of crypto.You will truly find inspiration. Don't be intimidated as a woman in crypto.I have found that men in this space are more than willing to share what they know and are fun to trade with.
4.OPEN ACCOUNTS AT MORE THAN ONE EXCHANGE
I would recommend opening accounts at more than one exchange.There are several reasons for this. First, you never want all of your money or investments sitting on one exchange. Secondly, not all exchanges offer the same coins.For example, NANO. It can purchased on many exchanges, but not all. If you want to invest in Nano, you will need to sign up at an exchange that offers this coin.If you are unsure of where a coin is listed, you can go to CoinMarketCap, search for the individual coin, then click the tab titled "Markets".(This is also a GREAT resource for finding information on individual coins. ) You will need to deposit money in exchange to begin trading, but only certain exchanges allow you to deposit Fiat (US Dollars) to get started.See Links for information on individual exchanges.I have written a blog titled Getting Started on an Exchange which should help walk you through the process.
5.SIGN UP ON VARIOUS SOCIAL MEDIA SITES
I think we all know that you can't believe everything you read on social media. It is just another tool to use.If you are interested in a certain coin, follow them on Twitter.You will be able to get updates on their developments and news.Most companies, if they are reputable, will keep you updated on their latest news.Avoid companies who do not keep their investors informed.Some of the following social media sites you may want to sign up on are: Twitter, Facebook, Reddit,Facebook, Telegram and Steemit.Give me a follow on Twitter.I try and following reputable people....but don't trust everyone I follow either.
6.BE AWARE OF THE SCAMS/PITFALLS
Before you start investing/trading, you will need to be aware of the scams and pitfalls of crypto trading.If people offer you free coins, it's probably not true. Failing to protect your wallet or making a simple mistake can cost you your coins.See Scams/Take Heed for tips.
7.NEVER INVEST MORE MONEY THAN YOU CAN AFFORD TO LOSE
Crypto is very volatile.Never take a second mortgage on your home, cash out your children's savings accounts or max out your credit cards to put money into crypto.Put in only what you can afford to lose.
8.DIVERSIFY YOUR PORTFOLIO
You never want to have all of your investments in one place Diversify some.Bitcoin is obviously one you may want to hold, but there are hundreds to choose from.There are a variety of coin categories to choose from Gaming, security,
9.STAY UP TO DATE ON NEWS
The world of crypto/blockchain changes so fast. Be sure you keep up to date on events by reading news every day.The more time you spend following the developments, the more you will understand. Often times when news is released regarding a coin, you will see a nice "pop" in price.Sign up for Social Media feeds from news sources but make sure they are legitimate sources.
10.LEARN SOME BASIC CHARTING SKILLS
If you are going to invest in stocks or crypto, you need to learn some basic charting skills. Don't expect to learn this overnight because it does take some time. There is a great resource found here for beginning technical analysis.See Charting/Analysis also. found under Resources.
Airdrops, forks, ICO's....you need to learn as much as you can about them.I have put a number of links under Resources (specifically Study/Learning) to help you become familiar with these topics. Investing in crypto is not just about throwing money in and expecting it to grow.You need to put time in studying.You don't need to become a blockchain expert but you do need to be aware of events that can impact the value of your portfolio as with any investment.