The Ultimate Guide to
Blockchain & Cryptocurrencies
In this guide on cryptocurrencies, you will learn:
- How blockchain technology & crypto works
- The various types of cryptocurrency coins
- The various ways to invest in cryptocurrencies
- Latest applications of blockchain technology such as DeFi, NFTs, etc
All this new trading products are very alien to me and a bit daunting to be honest.
The only product that I traded is only BTCUSD and ETHUSD.
Not too sure about NFTs and tokens…
I have never seen you or anyone trade NFTs in this trading guide. Have anyone actually bought and sold a NFT for a profit?
If you have, how many times have you done it and how are your profits compared to trading crypto?
Should I be viewing NFTs as a long-term investment rather than tradable assets?
Well, I love to share that you have to understand what art is about, understanding what makes a NFT project standout. You can definitely profit from trading NFTs without being part of the mint but you really have to be attentive.
In my experiences, I think the best way to profit from NFTs is to go for “branded” like Cryptopunks, Polypunks, Solpunks etc and to get them at mint price (when they are first launched).
When Metaverse was release, the lowest I have seen is 30 times of the minting price, while the highest I’ve seen is 200,000 times!
It is really difficult to dabble in NFT. You need to be lucky, and your risk is not finding a buyer, and on top of that, high gas fees to transact NFTs.
I bought $60 worth of bitcoins 5 years ago without knowing what I am getting myself into.
It slipped my mind completely that I bought it back in the day.
A quick google search says my mediocre investment is actually worth $12,000 now!
Just wondering whether I should sell it or sit on it for another 5 years?
If you’re really super rich, then do nothing, and buy more.
If you don’t need the money, but also can’t afford more, then sit on it.
If you need some cash, then you can sell a bit (up to half but no more), any more than that and you will be kicking yourself IF it went up in price.
You haven’t explicitly said if you still have access to it. And PLEASE… consider buying a hardware wallet to protect your coins.
It really boils down to your personal situation. Personally, I would keep it as I don’t need liquid cash at the moment.
The fact that you’re asking indicates that you aren’t in desperate need of the money. I would take some time to read as much about the topic as possible then make a decision on how you think it’s going to perform in the future.
Keep on HODLIN.
Why do you sell early IF you don’t need the money?
I have just been buying $100 a week of BTC on one of the popular apps for a year now, dollar cost averaging. I have about 0.25 BTC and some of you here might point out that I should diversify but why should I when I can make more compared to other asset classes?
I’m a 40 year old lecturer who makes decent money and I feel like crypto is the only opportunity to get ahead in this rat race.
I’m so jealous of your achievements. I only have 0.1 BTC but am using my disposable income for beer at the same time. =
Good luck to you and hope to see you at the top!
I think it’s real smart that you’ve dedicated to investing $100 weekly to buy BTC. It’s the perfect amount where you won’t miss it.
No point asking what to do next, since you’ve stated that this is most you’ve ever had and you are dedicated to it. You’re doing something right.
Keep it up!
Slow and steady wins the race.
Step 1: You don’t give specifics about how much crypto you own to anybody.
Step 2: Make sure you’re keeping the seed phrase safe, written down.
Step 3: Ledger wallet.
Step 4: Live your life. Plan retirement. Figure out how to live on the least amount of money.
Depends on your financial objectives. If you need the money for some pre-planned expense — you could DCA out some amount. If you plan on long term wealth creation, continue to DCA, as there is no golden rule what to do next. It completely depends on your objectives. Most importantly, you are doing something to change your life.
Does anyone think that the idea of the Metaverse will fail?
In my opinion, virtual worlds do not appeal to me. Some people are referring it to the “new reality” and the “next internet” but I just see it as an overpriced and over-rated VR game that nobody will pay for.
The amount of money that will have to come out of this will have to be insane. With the amount of money that goes into this, they would end up having to resort to selling high priced gears and equipment used for them to function in the Metaverse. It will not surprised me in anyway IF a player needs to have a certain pool of Crypto to start.
In addition, I can see a hard sell/dump in the cryptos related to Metaverse as the majority have been going up with hype, and I feel the Metaverse will take a longer process than the average investor thinks, which will possibly result in these assets being sold.
I think it’s just a grand ploy to save Facebook since it is going to phrase out. By claiming that he wants to be next big thing, he is putting all in and hope it works!
I have noticed that interest in NFT is dropping sharply based on Statisca. This indicates that the overall momentum of the NFT market is weakening, and supply is catching up to dropping demand. We’ll see fewer $300k Monkeys JPEGs, and things will begin to slow down now that it’s becoming more difficult to flip the NFTs for a bigger sucker to buy in.
It is baffling to me.
How does a lower search count on the word NFT, correlate to dropping demand?
It is puzzling to me that the crypto community doesn’t understand the value of NFTs. This is great news for collectors and investors of NFTs. Most people just think they are jpegs and do not understand the thousands of utility projects that are doing popular. There is going to be a drop off nevertheless. Most influencers that have tried NFTs have been called out for scamming and with increasing scam awareness, only good projects are doing well.
End of the day, NFTs are also highly correlated to crpyto? Why would this be bad news for us? Its your perspective and is subjective to each individual if they choose to dislike it. People can do what they want with their money, and don’t buy NFTs if you think it’s all a scam.
NFT sales ‘have declined 92% since their peak’ and THE MARKET AND INTEREST AROUND NONFUNGIBLE TOKENS LOOKS TO HAVE FLATLINED.
What do you guys think?
I am not surprised AT ALL.
Who in the right mind will want to purchase a picture at a higher price than the previous guy?
To me, it all feels like a Ponzi scheme. The last person to get it is the sucker.
Everyone is just looking to make it big with the next thing! You can expect to see these crypto trends to come and go off and on over time. Everybody is looking for the next bitcoin.
Will you be the first to risk and make it OR wait to be at the end of the trend?
An NFT of the first tweet from Twitter co-founder Jack Dorsey, which was purchased in March 2021 for $2.9 million by Sina Estavi, the CEO of Malaysia-based blockchain company Bridge Oracle, was put up for auction earlier this year and didn’t receive any bids above $14,000.
Now you tell me? LOL
What do you think of the latest USDT depeg and Luna crash?
Luna took a hit to restabilize the PEG as it was designed for. The priority of TERRA is to protect the peg at all costs even if it takes value from Luna.
USDT is an algorithmic stablecoin and it isn’t like fully backed stablecoins (e.g. USDC, BUSD and EEUR), which can be redeemed 1:1 with their underlying assets.
I lost at least 80% of my portfolio in USDT….
It sucks… I tried to diversify and USDT is supposed to be stable… feels like the BTC crash years ago.
I diversify my money into 15 different coins.
I can get into whatever I can. I might be the stupidest person here, but hey, I’m making money even in a down market.
It shocks me that by losing so much in Luna/USDT, its almost my entire portfolio. I could never risk all my money on 2 coins.
Well it looks like it has recovered somewhat… although not as high as it used to be.
The measure of a good stable coin is not about its ability to retain its peg in the short term, but how it is economically structured such that it can retain the peg in adverse events.
Invest in stable coins that proved themselves on these events such as DAI and USDC. In my opinion, we don’t really need so many different ones which are mostly owned by VCs, which are highly centralized in their consensus and operate on fractional reserves.