What is the best thing a new comer to cryptocurrency can do with a good amount of bitcoin?

in story •  7 years ago 

Gathering.jpg

I am just coming from a gathering with some of friends, we were around 15 sitting around a table talking about different things.

Until we got to bitcoin and I found out that 9 of them did no now anything about cryptocurrency but they have heard a lot about it.

While we were answering some of the usual questions, one of them said I have good amount of bitcoin in a wallet but I don’t have a clue what do do with it.

One of us suggested to mine, trade or both but it seemed that he was talking in another langue.

Another one said, why don’t you buy ICOs token?

But the person which asked the question did not know what the other one was saying.

One of my friends which knows what he is talking about said, why don’t you keep them and find out more about cryptocurrency, this way you don’t have nothing to lose.

Maybe at the end, he continued, you only want to buy different coins and just keep them?

We all could see the light the eyes of the person who asked the question and he said, you know, this is exactly what I was thinking.

On the way home I was thinking about the power of cryptocurrency is such that even if you don’t to anything you can earn from it.

bitcoin-sign.gif

I personally think one should buy one or two coins to start with (as I have done) and the experience that you get with these two will help you when you want to choose another one or replace one or both of them.

There are lots of people in you tube or other sites which earn $2000 to $3000 each day and I know that only a few of them could be true.

But my aim for now is to have an strong structure based on my experience and investments and step by step make progress.

This form of thinking for now, it has help me a lot and even I had to make some changes in my plans but I believe I am on the right track.

This is like learning a language, you only learn 40 to 50% in a class room, the rest is up to each individual to find her or his way of implementing it.

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couple of things.

Research, Research, Research

Don't buy in green always buy in red. Don't join Pump Groups. I don't listen to anyone, but your own instincts.

#3 Never go all in
#4 learn from your mistakes
#5 Be careful
#6 look for coins that use and aren't just crap

Thank you, I really liked what you have written.

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Cash out half, invest the other half! To me that would be a good strategy. Unless u have inside knowledge of a huge down slide, then in that case... Cash the majority of it out, but keep enough in there to buy and your loss isn't so bad. Damn i need to start investing.lol