After the bitcoin crash end of 2017 I always assumed that bitcoin’s days were over and that crypto would be dead. This was a reason I would never bother with crypto. Also I was first unfamiliar with the crypto world. This changed after I was offered a free introduction training in bitcoin and the crypto world in general. In this blog I cover my personal journey into this interesting cryptoworld.
My first introduction to the crypto world
As stared above during the first introduction training I learned that bitcoin price folled a market cycle and that it is far from death. During the training it was also possible to purchase first bitcoin. This purchase marked my starting point into the crypto world.
Increasing my crypto investments
Short after my first crypto investment I started to slowly increase my investments in crypto and since the bullmarket started to kick off I made nice profits which I used to invest in more coins. Soon I realized that the crypto world is very expansive. Not only are there many different coins, also security and new developments in crypto world are the case. I realized it was a wise step to learn more first.
Enrolling in masterclass cryptocurrencies
The next logical step was to enroll in a masterclass about crypto currencies. The class is very expansive and all relevant topics were covered. It helped me to increase the necessary knowlegde I needed to expand my confidence and knowledge to invest more in crypto currencies. Also scams, security transactions, different exchanges and passive income were covered. Even airdrops were covered and a proper training with transactions were covered. After finishing training I realized how many possibilities there are with crypto and blockchain.
Storing your crypto safely
One of the essential things I learned is that storing big crypto on an echange is a bad idea. Unless you are trading or staking it is wise to store crypto in wallets where you own your private keys. On an exchange you don’t own the private key and I keep in mind that when it’s not your keys it’s not considered your crypto. Also strong passwords via a password manager and two factor authentication are recommended.
My passive income with cryptocurrencies
During and after the masterclass I started to discover possibiliities of passive income. First I started staking on Bitvavo but also on Binance. Binance has a lot of possibilities if staking both flexible as fixed and locked staking and I use them all now. After centralized staking I also started to discover defi staking, liquidity pools and crypto mining. When you find the right websites it can result in a nice yield.
Participating in airdrops
Another way of obtaining new coins are airdrops. Via airdops you can obtain new coins and tokens for free. My experience is evaluating critically that the airdrop is legitimate. Some airdrops ask to send money and coins first to send double back. Chances are big that they take money without delivering the tokens.
My participation in faucets
Another way I obtained small amounts of crypto are participating in faucets. It is a nice way to get some crypto currencies but it takes long to have enough crypti coins to send it to your wallet.
My final conclusions
Whoever wants to start seriously with crypto investing should folllow my steps to learn first about all aspects about the crypto market before investing deeply. Otherwise someone can lose large amounts of money investing the wrong way. It is not hard to find someone who lost a lot of money to invest in crypto without having a proper training.
