NicholasJack-of-all-trades, master-of-none
The following is not financial advice and I have no affiliation to the projects discussed, or the websites included. These are simply my opinions based on my extensive research. That said, as congress continues to devalue the U.S. dollar it becomes increasingly urgent that you diversify your assets.
Crypto is a great way to do this, but you must research blockchain technology if you're going to wrap your mind around crypto currencies. Without getting too technical, it works based on decentralization of information. As we have learned from the technocracy, it can be dangerous for one entity to control the flow of information and blockchain technology is the solution to this problem. Bitcoin is a blockchain that records transactions. These can be purchases, person to person exchanges, etc. Everyone has equal access to the transaction record and it's completely public. For example, person C, can look at the ledger and see that person B, sent person A 0.01 Bitcoin. It gets much more technical, but this summary should suffice for beginner's. So, let's cut to the chase. If you want to get invested in Bitcoin, you will want to know a couple things first. One, DO NOT leave your crypto currencies on an exchange. What's an exchange? Exchanges would include, but are not limited to, Binance U.S., Public, Coinbase, Crypto(.com), etc. Two, you will want to purchase what is known as a cold storage wallet. Cold storage wallets are typically USB-style devices, which have an encrypted password and no internet connection, making them virtually impossible to hack. One of the most popular brands would be Ledger. This is the safest method (to my knowledge) for storing your crypto currency. So, which crypto should you invest in? Bitcoin is by far the safest option, however, this is where doing your own research becomes vital! Personally, my portfolio is diversified across more than 40 different assets, but I'm of the belief that nobody knows which of these projects will be the next Google, Microsoft, or Apple. Any one of them could end up being very successful. As the saying goes, buy low, sell high, or in my case sell very little! I also recommend simply watching the exchanges, before purchasing any crypto. Watch how the markets fluctuate day to day, familiarize yourself with graph patterns, charts, research each coin and try to avoid meme coins. I'm not here to hate on the dog coins, but there are many great projects, such as Cardano (ADA), with very promising futures! I'll include some tracking widgets below, as well as a link to a crypto tracker website. These allow you to see the crypto market as a whole. Coinmarketcap: https://coinmarketcap.com/
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