Congratulations, you have bitcoins discovers! A fascinating world opens up to you, but you soon discover that there is much to discover. So much so that you probably have the feeling that you can no longer see the forest for the trees. Today we won’t tell you what you should pay attention to, but we will give you three points that you shouldn’t look at at the start.
Technology
The first point most people often stumble upon is technology. Although bitcoin is extremely fascinating from a technological point of view, in principle you shouldn’t pay too much attention to it in our opinion. Ultimately it depends a bit on your background, for some people with a more tech background it’s okay to dive in from this perspective.
However, for most people it is better to first understand why Satoshi Nakamoto invented bitcoin. Once you understand the economic and social side of bitcoin, everything about bitcoin immediately becomes more interesting. Speaking of which, it’s best to first understand the reason for the decentralized nature and sheer scarcity of 21 million bitcoins it is so special compared to the traditional financial system.
Your phone
People who are just starting to invest in bitcoin tend to constantly check their phones to see if they are already rich. We can be very clear on this right off the bat. Bitcoin won’t make you a millionaire in 5 minutes and it won’t make you happy. Bitcoin is extremely volatile and it’s not exactly reassuring to see your wealth constantly moving up and down. One moment you’re up 10 percent and the next moment you’re flying off 5 percent.
For your state of mind, it is best to teach you the rates check as little as possible. After all, you’re investing for the long term, not to cash out next week with big bucks. If that’s what you’re looking for, you might as well head to Holland Casino.
Focus on the big ones
Another important tip is not to get lost in all kinds of small coins that have yet to prove themselves. It is best to first understand bitcoin and make the leap into other currencies from there. First try to lay out for yourself exactly what bitcoin is and why it might be an attractive investment, before you start betting on smaller ones. altcoins which involve much more risk. It’s very tempting, because the profits are potentially huge, but people often come home from a very cold fair.
