Normally, I take this investing in Cryptocurrency with all the enthusiasm and gusto to that of a fish out of water. (Totally out of my element) It's to be expected because I am a Pisces, after all. Still, I seem to be flopping around a lot. Bit by bit, I'm learning whether it's about Bitcoin, NFT, or Ethreum, and the list goes on.
The lingo is strange, but the concept of utilizing 'digital money in a controlled void without ever touching it is refreshing. Bitcoins can be passed anywhere globally without a bank transaction regulating that crypto/token. How long to trust this process is the question, mostly currency, cash, and assets have a long-standing structure, and people have 'learned' to live with the process if not 'trust' in it wholly.
But, unlike services such as PayPal, which utilizes the traditional way to transfer money to accounts set up by financial institutions, bitcoin isn't like that. Bitcoin is tracked on the blockchain, similar to a bank's ledger or log of customers' funds going in and out of the bank. This is intended to record every transaction made by bitcoin. Reliable? Sounds like it.
So having this type of currency available seems invaluable when controlling how you spend and what Cryptocurrency to invest in.
Cryptocurrency has begun its bid on reaching the masses; even big-shot athletes ie. Odell Beckham Jr and Aaron Rogers have both received part of their income in Crypto, jumping on the bandwagon and investing, making the market more intriguing and alluring.
Reading about Cryptocurrency gave me a headache, lol, but I didn't give up.
The idea of this investment journey building into part of my retirement portfolio is exciting enough for me to keep up with the trends and newest ways to increase my investments in Cryptocurrency.
My focus will remain on spot trading - just as it sounds - it's a way to purchase Cryptocurrency at a spot price for immediate settlement. Something that I can do with little or no experience, but it gets complicated with 'contract trading' because it means I would be investing in future contracts that don't pay off or exchange currency immediately. This type of trading is for those who have more resources. I see both trending for the year 2022.
While Bitcoin seems the up-trend for spot trading because retailers like Walmart are allowing customers to purchase BTCUSD. And #Ethereum is the next cryptocurrency to look at because there is no scarcity or is considered limitless while other coins like Litecoin have a purchasing limit. Bitcoins will appeal to the larger masses as retailers integrate cryptocurrency into their markets.
I delved even further into the pros and cons of Cryptocurrency, I couldn't help but notice that it takes a lot of energy to keep afloat. I'm worried that using all this energy will harm our world, but going paperless in currency is a plus. Still, it's not very 'green-minded.
So maybe I take a look at this closer. Everyone seems worried that as Cryptocurrency grows in popularity, the more people that utilize it through the cyberworld will cause a huge spike in energy consumption that will possibly affect our greenhouse environment?
In the meantime, the algorithm exists, which means there's a future in Cryptocurrency. Investing isn't for the faint of heart or the weak. You have to be strong-willed, spirited, and willing to lose to gain, but some luck would be nice along the way.
My wallet is a little empty - if you like to tip me a few coins - please do so; it's appreciated.
Appreciation for all that #Bityard is doing for charity. #BityYard Contest and Giveaway
It's really is all about the journey. My writer's life hasn't just begun, but every journey requires a boost to complete; sometimes, the road is rocky, the way unpaved, but the destination still speaks to the heart. That is why I have decided to push on.
I've jumped on board and created my crypto account, including opening a crypto wallet (which was an adventure).
And so. I started a wallet to send, receive, and get a piece of the pie. That was a process in itself, and by no means am I an expert on which coin wallet to use.
What do I suggest? I'm a beginner, no expert, but I tried coin-based wallets to compare.
#MyCryptoOutlook2022
Until then, be gracious, be kind, and don't forget to invest in yourself!
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