JessePinkmanBB
Junior Member
- Jul 13, 2020
- 162
- 217
I've noticed that many people feel like they missed out on Bitcoin "it's too expensive now", so they typically lean towards "new" projects (referred to as "shitcoins").
Here's why you shouldn't touch those unless you're an experienced trader or you're here to gamble.
1) Bitcoin has 10-100x potential. Decentralized & most secure network, the only Store of Value, 12 years of uptime & network growth. It's the preferred Crypto for institutions. 10x on your investment is excellent, you shouldn't really wish for more.
2) Furthermore, you should focus on generating an ACTIVE source of income and invest savings after expenses. Dollar-Cost-Average into Bitcoin, buy every week.
3) Only invest in what you thoroughly understand. Be smart, do your due diligence. Don't be tempted by others flaunting their high ROI trades. Don't be greedy.
4) Realize that the world is adopting digital currencies further, go with the most dominant cryptos as they're most likely to be here in 20 years.
5) Opportunity-cost. The time spent going through all these shitcoins could be spent on building income sources for yourself or sharpening your skills.
6) Many rug pull scams. Don't buy into extremely small and new coins, scammers are trying to monetize the crypto trend.
That's it. The markets would be more healthier and stable if everyone would follow these points. Investing is an amazingly useful skill to build so don't gamble your savings, learn to INVEST so you can repeat it over and over - that's the true art.
Here's why you shouldn't touch those unless you're an experienced trader or you're here to gamble.
1) Bitcoin has 10-100x potential. Decentralized & most secure network, the only Store of Value, 12 years of uptime & network growth. It's the preferred Crypto for institutions. 10x on your investment is excellent, you shouldn't really wish for more.
2) Furthermore, you should focus on generating an ACTIVE source of income and invest savings after expenses. Dollar-Cost-Average into Bitcoin, buy every week.
3) Only invest in what you thoroughly understand. Be smart, do your due diligence. Don't be tempted by others flaunting their high ROI trades. Don't be greedy.
4) Realize that the world is adopting digital currencies further, go with the most dominant cryptos as they're most likely to be here in 20 years.
5) Opportunity-cost. The time spent going through all these shitcoins could be spent on building income sources for yourself or sharpening your skills.
6) Many rug pull scams. Don't buy into extremely small and new coins, scammers are trying to monetize the crypto trend.
That's it. The markets would be more healthier and stable if everyone would follow these points. Investing is an amazingly useful skill to build so don't gamble your savings, learn to INVEST so you can repeat it over and over - that's the true art.
