The Newby at Crypto

A new world has open up the past few weeks for me. Im a young guy looking to make a few extra bucks and decided to look into the buzz word "bitcoin". This is the word that shows up in the adds when I google investment, how to make money or 300% gain.

What is this word Bitcoin? Wikipedia told me its a digital currency. Is that even possible?

This was when I started to explore this vitual jungle. The new terms increased and I felt loss in a world where so many people seems to be at home.

With one thing in mind I tackled the unknown. Bitcoin was an idea to produce a currency independent of any central authority. This meant fees will be low and quick to transfer. The idea shounds great, I should invest. But how? Does it have competitors?

Every questioned I asked led to ten more, but percentage gains on coinmarketcap made it interensting. I started reading about altcoins, ICO's and bonus structure.

But how do I invest? And in what? Bitcoin was now only one word in my ever expanding crypto dictionary. So I did what the majority of people would do. I jumpes on social media, Facebook groups, follow the Twitter experts and watched every video on Youtube I could get.

Wow, what a fun and funny thing have I joined? Until I realized the potential and size of virtual investments.

After following some of the advice on social media I started making a little bit of money. Then came some losses. Then back up to par. Back to the drawing board, the people are talking about Lamborghini's and the moon. I need be there, get my yellow one. Again we start, up and down.

It was after the second roller coaster ride that I realised there are a lot of people like me. They ask the same questions and they ask them over and over again. Will I get my money back? What is the next big alt coin? When will the market turn?

So I decided to set my own rules. I have commited to stick to them and will review them is six months time.

1. Greed is my nr.1 enemy!
2. Read the white papers!
3. Never get over exited and buy on a bullish rally!
4. Only invest in products that makes sense!
5. Choose your sources responsibly! The whales(big players)are not playing around on Facebook the whole day.
6. Only invest what you can affort to loose!(Credit Cards are dangerous)
7. If you buy it, keep it! Do not expect to get rich in a month.
8. Try and understand the people that want the specific coin! Asia is big and they think different!

Now that I have my rules, I can invest and relax. I have discovered the market early enough to make money.

Cheers