This topic is not what you would expect but it will help you make the best decisions there are available where and what cryptocurrency investments will become the smartest choices to invest in.
So lets start with the basics
If you still have no good intentions for the new year? Do not exercise, clean your house more often and eat healthier, because according to experts, the best investment for 2020 is: learn, learn and learn again.
And that’s where it comes to choosing the best cryptocurrency investments for 2020.
Life goes as it goes. You learn from the age of six to around the age of twenty-two. For waitress, truck driver , civil engineer, police officer, fireman … Afterwards you look for a job and then the rest of your life continues. Work hard to earn enough money. But the successful entrepreneur Michael Simmons finds that’s a ridiculous idea. His principle? Learn at least five hours a week. Because nobody will work non-stop until they are 80 years old. But lifelong learning is possible!
No wonder Michael Simmons is successful, looking at cryptocurrencies the technology evolves every day and you need to learn and follow up on a daily base.
If you want to survive today in the cryptocurrency world and want to flourish, then you have to learn for life. In the industrial era it was mainly about hard work, but that is long gone. After all, blockchain technology is not standing still. Nowadays everything revolves around knowledge. So hard learning is the equivalent for the knowledge economy.
But how exactly do you do that? Simple, make learning a priority, just like you do with exercise or healthy eating. Not learning five hours a week is actually smoking of the 21st century. That can count as a health warning.
Forget the cliché image of the student behind his desk. Just look at Barack Obama, one of the most busy people in the world, who spent an hour every day with his nose in the books while he was in office. Or Bill Gates, the world’s richest man, who reads a book every week.
Knowledge is the new money, and those two American men have known that for a long time. So … you have to read blogs like hostingforbtc.com, view cryptocurrency videos, share knowledge with friends, follow classics courses or seminars, complete online training courses and you will become a winner in cryptocurrency investments.
The handy thing is that you can follow mini-courses anytime and anywhere: on the train, during your break, at the weekend. Even if you ‘only’ read fifteen minutes a day, you will end up at almost 100 hours after a year. So no, you really have no excuse not to have to learn.
Still not completely convinced? Well, learning something new also gives you a lot more than a pile of knowledge:
- Learning something makes your day good. You grow as a person and that simply makes you happy. Being curious is important. If you are not, you will automatically learn a lot less.
- If you learn something new, you provide vitamins for your mind. It is like an antidepressant ..
- Failures may not always be fun, but you do need them to move forward and become stronger. In short: dare to take risks and step out of your comfort zone.
How does this help with choosing the best prediction on cryptocurrency coins / tokens
- By reading daily blogs about cryptocurrencies you will improve your knowledge and understand better the different types of coins/tokens and the technology or potential use cases behind them.
- Watching cryptocurrency YouTube videos is a luxury, here you will learn to read between the lines even. You will easily tell after a while if the person talking about a coin / token holds some of them or not.
- You will start to see that not all high profile people and/or websites in the cryptocurrency world are here to help you make money, example John McAffee that gets paid a $100,000 to hype a coin / token or BuzzFeed that asks $100,000 for 5 articles to be made and posted.
- This will learn you also that there is often a hidden catch when someone promotes/hypes a certain cryptocurrency, often the easiest way to spot is if a referral URL is used while hyping a coin/token. But that’s just one example, like we said above that you will be able to tell if someone holds or not a certain coin/token could also be for pump & dump scenarios.
What resources to use:
Finding the right tools for learning, reading is difficult in this still fairly new investment market segment. The cryptocurrency investments world is still young and extreme volatile. Making predictions even on past history is high risk but that’s not all. It is still also the wild west and the big coins / tokens are dominated by crypto whales.
- RSS Feed readers, like Berminal are excellent for news-gathering. No need to weed through a 100 different blogs, twitter accounts and you get the most important headlines served instantly.
- Cryptocurrency trackers like coinmarketcap and coingecko provide a ton of info also, besides seeing the price/charts you can get much more info, exchanges used, trades happening of a coin, official coin links, white papers, etc
- Youtube, weeding through YouTube videos can be difficult and finding people that have good videos is difficult, here you really need to learn to read (listen) between the lines and compare positive as negative videos of different people about the same coin/token
- Twitter, when you selected a favorite coin you hold or invest in, make sure you follow their twitter account or the account of the person behind. A good coin / token will constantly inform you about development, progress, etc
- Google, the difficulty is here using the right search terms but it can help to find the right info you search for and want to read about.
- Exchanges, never bad to follow the news of various exchanges. Especially the big names like Coinbase and Binance as they have major influence on price of a coin / token when they add or delist one.
- Whale Alert, this is a pretty handy twitter feed and website to follow the movements of cryptocurrency whales
As in everything that involves money in this case digital gold aka cryptocurrencies, always do proper research and due diligence. Making predictions on the extreme volatile world of cryptocurrencies is difficult and learning about crypto’s should help you a lot. Don’t go blind based on a few posts or videos. Hyping of crypto’s is reality and costed a lot of people money.
The crypto world is still in an immature phase, we can not compare it yet with financial giants like VISA, MASTERCARD, SWIFT that are able to process transactions faster than current blockchain coins/tokens.
Lets take VISA as example with more than 150 million transactions per day, which is an average of a 1736 TPS (Transactions Per Second), not a single crypto is at this point able to reach that speed on a world population scale. In fact it’s been reported that VISA servers can handle as much as 56k TPS – but that’s all theoretical.
However there are new tokens in the crypto world that see the daylight that have potential to be winners, example coins that solve problems, anonymous coins or a more recent token segment called dividend tokens. But as with stock investments, same risks apply if not even higher risks.
What are your favorite crypto’s to invest in ? Do you follow up, learn about crypto’s or just follow the hype ? Have you made cryptocurrency investments ? Let us know in the comments below