Sirwin
Sirwin
BitCoin over Eye

My Crypto-start?

By Crypto-Noo₿ | Crypto-Noo₿ | 28 May 2020


Hi everyone,

I'm really new to cryptocurrencies.  I heard about them about a decade ago, but I was caught up in figuring out my own education and career.  Now I'm taking a much more active role in managing my investments, and I'm trying to figure out the place that Cryptocurrency has in my strategy.  

This blog will be me sharing my thoughts as I try to figure out if/when/how I want to interact with Cryptocurrencies.  

My Background:

I am trained as Mechanical Engineer, and have been working in R&D for Fortune 500 Medical Device companies for a 10+ year career.  I also have an MBA in Product Development.  I'm going to keep doing that as my day job.  However, now that I'm getting a more substantial 401(k) and other financial assets, I want to understand them better, and position myself better for the future.  I'm looking for financial security and freedom so that I can weather economic downturns and contribute back to society in meaningful ways.

As a Millennial, I've witnessed both the 2008 economic crash and this Covid-19 related recession.  In both of those cases, I saw that significant stock market returns were wiped out in a matter of weeks or months.  I understand that the stock market is a risky place to invest, but it seems to me that the returns in the stock market are a little low for someone who is also exposed to a 50% drop in value nearly overnight.  I might go into this a little more in a future blog post if it is of interest to people.  The short of it is that I'm convinced that there are better ways to make money and prepare financially for the future.

Why I'm looking at Cryptocurrencies

I feel like I have a basic understanding of how cryptocurrencies work.  I learned about them years ago.  Well, I remember learning about Bitcoin.  Being an engineer, I thought it was pretty cool that the creation of the currency was done by computing power.  I also remember hearing that the goal behind Bitcoin was to eventually replace the US Dollar.  Then, it dropped off my radar for about a decade, resurfacing from time to time when it got big in the news again.

In the past year, I've been getting more and more active in my investment activity.  I got more active in my 401(k) and IRA accounts. I starting learning about options.  I opened a Robinhood account (You can get free stocks if you open an account by clicking here: https://join.robinhood.com/westonw95).  Shortly after opening my Robinhood account, I saw that there was an option to trade Bitcoin in that account.  Later, I also opened accounts at Webull (You can get more free stocks if you open an account by clicking here: https://act.webull.com/n/w33NAZOM4q7s/1rm/) and at SoFi (You can get a signup bonus with them too, if you click here: https://www.sofi.com/share/invest/2862851).  

It wasn't long until both Webull and SoFi ALSO started offering crypto trading, and they even offered personalized crypto incentives for opening crypto-specific accounts.

Now I have gathered that cryptocurrency has gathered some steam and become more mainstream.  I'm hoping to relearn the basics of how cryptocurrencies work.  I want to get a better sense for the macro-economic trends that would make crypto more attractive than our existing global currencies.  I see that the number of cryptocurrencies have exploded over the past decade - and I've love to take some time to figure out exactly what the differences are between them.    Stay tuned for more on the story of my crypto journey!   -Crypto-Noob

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Crypto-Noo₿
Crypto-Noo₿

Just now learning about cryptocurrencies and how they might fit into my life. I'm here to share, get advice and ideas, and figure out a better way to deal with money.


Crypto-Noo₿
Crypto-Noo₿

I'm a crypto-noob. This is a record of how I'm trying to shed the noob-ness and decide if investing in Crypto is right for me.

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