What Is Considered The Best Way For Beginners To Start Their Crypto Journey?
2022-04-29 15:41:47
The Best Way To Enter The Crypto World Might Be To Buy Bitcoin.
There is no doubt that cryptocurrencies are gaining more and more credibility among institutions and ordinary people, especially because of the continuous developments in terms of usability and security. Just four years ago in 2018, general skepticism was still the dominant sentiment, due to the sudden drop in prices following the 2017 bull run. Many of us could never have imagined that companies like Tesla or Mastercard would join the party with crypto payments and adoption. Now, the narrative has changed and we are only at the beginning of something big. According to a research conducted by Crypto.com, the global crypto population increased by 178% in 2021 rising from 106 million in January to 295 million in December. The growth was aided by the significant increase in bitcoin price live. Crypto.com also stated: “If we extrapolate a similar rate of increase in 2022, we are on track to reach 1 billion crypto users by the end of 2022”.
Unfortunately, as adoption increases, so does the risk of running into scams or flawed projects. That being said, it would be appropriate to state: “Do your own research before investing”. A good practice for beginners is to start studying Bitcoin and its fundamentals, as it was the very first fully functional cryptocurrency and still the industry leader today. Knowing how it works and the purpose why it was created is crucial in order to understand all the other cryptocurrencies in circulation.
There is no doubt that cryptocurrencies are gaining more and more credibility among institutions and ordinary people, especially because of the continuous developments in terms of usability and security. Just four years ago in 2018, general skepticism was still the dominant sentiment, due to the sudden drop in prices following the 2017 bull run. Many of us could never have imagined that companies like Tesla or Mastercard would join the party with crypto payments and adoption. Now, the narrative has changed and we are only at the beginning of something big. According to a research conducted by Crypto.com, the global crypto population increased by 178% in 2021 rising from 106 million in January to 295 million in December. The growth was aided by the significant increase in bitcoin price live. Crypto.com also stated: “If we extrapolate a similar rate of increase in 2022, we are on track to reach 1 billion crypto users by the end of 2022”.
Unfortunately, as adoption increases, so does the risk of running into scams or flawed projects. That being said, it would be appropriate to state: “Do your own research before investing”. A good practice for beginners is to start studying Bitcoin and its fundamentals, as it was the very first fully functional cryptocurrency and still the industry leader today. Knowing how it works and the purpose why it was created is crucial in order to understand all the other cryptocurrencies in circulation.
Price Volatility Can Be a Good Catalyst to Increase Interest in Bitcoin
Deciding to start investing in Bitcoin can be hard, since it has been repeatedly denigrated by several politicians, bankers, and journalists in the past, especially because of its price movements. The extreme price volatility of bitcoin can be scary for newbies, but it is probably only a temporary consequence of the market’s young age. On the contrary, it could be a good reason to enter the market and to understand its dynamics through bitcoin, like so many people did. For those who have not studied the fundamentals, the idea of getting rich with bitcoin in no time is very tempting. This is a misconception that can encourage people to make serious mistakes, which could eventually compromise their funds. Therefore, the idea should be mitigated into more long-term plans, such as adopting your own investment strategy based on your needs.Ultimately: Is Bitcoin a Good Investment For Beginners?
Just the fact that bitcoin is stored and adopted by institutions around the world should make us understand that we are dealing with a solid, functioning and innovative asset in many ways. So, why should it not be the reference for crypto newbies? Nowadays buying bitcoin is very easy and there are several ways to do it. The important thing is to always try to rely on stable and safe services, with proven longevity in the industry. One of these is certainly Gate.io exchange, which operates since 2013 and is now one of the most important crypto platforms in the world. There you can find all the information you need to take your first steps.Popular News
