I once had a funny idea about cryptocurrency.
How will I just download some funny coin mining apps and begin to search for coins that aren't lost and probably make me a millionaire?
"Bro log on to your browser now and check for RFX, the token is one of the best. You will not regret owning one" - a close friend, Maxwell said, via an early morning call.
I was like is it really necessary to own a token.
Down the line, I discovered cryptocurrency is more than just trading coins.
Have you ever had money on you and just didn't know how everything disappeared?
Crypto is said to be for the strong-hearted, little wonder DYOR is a major trade mark for crypto merchants but the FOMO won't allow the faint at heart let it slip by.
The mouth-watery gains of cryptocurrency are too tempting to let go. The first thing you would surely learn is to hodl as long as you can, no matter the dip.
Though the danger is you might get rekt that's if you disregard the DYOR siren.
On a lighter mood, I see crypto having a more positive influence on the psychic of individuals.
Most people don't know how to invest or do believe that investing is synonymous to time wasting.
Not in crypto, you will learn how to hodl like your whole life depends on it, even if the dip goes deeper.
Whales know about this, and they aren't scared to tag along because they know every dip will surely rise.
Investment in the banking system is almost similar to investing in coins.
The only difference is the astronomical increase your coin investments can give when the value reaches an ATH unlike your investment in the bank, it moves at snail speed.
The danger is some shit coins can turn you into a bagholder leaving you wet in muddy waters but the safe mode is swap before it's too late.
The 'pump and dump' system is risky but what isn't risky, even banks do go bankrupt and fold up leaving investors screaming for money lost in the ocean.
The whole idea behind cryptocurrency is actually funny because you really don't know the importance of these coins but one thing is it will surely teach you how to invest for long term.
If you are into it, keep it up, you might just become a whale one day.
You never can tell, that mining you are doing today might turn you into a millionaire tomorrow.
I am mining though even till the end of the world.
⛔ DYOR - Do at your own risk.... It's a risky business but I don't mind
⛔ FOMO - Fear of missing out..... The gains are too tempting to let go.
⛔ HODL - Hold on to for your dear life.... A drunken misspelling of the word ‘hold’. Now people use it when they say they are going to wait and hold a cryptocurrency.
⛔ REKT - Slang for ‘wrecked’. It implies that the user lost a lot of money on cryptocurrency.
⛔ WHALE - An entity that can move large amounts of cryptocurrency in one go. When they do this, it can have a big impact on the market.
⛔ BAGHOLDER - Someone left with a cryptocurrency after a pump and dump.
⛔ PUMP AND DUMP - A scam where people - usually the creators who own a large share - encourage others to buy their cryptocurrency to artificially pump the price.