As the crypto industry soars, more enthusiasts turn traders and investors are brought to limelight; we take it as a job to guide and educate our community.
The crypto industry requires learning first, before earning. If you skip the learning process/phase because it ain’t bringing $$$ and jump into the earning phase – you may be opportune to grab the $$$ but you will still loose it directly or indirectly to the same market.
The learning process upgrades your finance intelligence, emotional stability and reduces your quest for greed (quick money syndrome). It requires, not just determination, but the core willingness to dig deep in research. Time + Resources (data you’ll use to explore the internet). You may get distracted in various ways, but your vision (roadmap) will be your major guide and inspiration.
Learning process is like early building phase. It requires concentration to achieve good results. While you research on things, be at peace with yourself so as to have deep concentration on what your are reading. You may not understand everything you read the first time, but keep note and return to it later for clearer understanding. Google search, YouTube, Medium, Twitter, Quora, et others can help you a lot.
Learning process might seem boring at first, but with time you’ll find it interesting. Don’t just read to ask questions always. Most things you read are made to take note, return to it later for clearer understanding. And don’t read to argue over everything – your limited knowledge should never represent your universal truth.
Remember, when you are done learning and start earning – invest more in researches too because learning is a continuous process. Be futuristic and open to connecting with others with similar interests.
About 4 years ago, there are many cryptos making waves, but are no longer making waves today. Also, many cryptos making waves today won’t be here in 2 years time, because the crypto industry is beyond the social media hypes you see. Bigger revolution will be hitting the crypto market regularly; always keep an open mind and be learning new things.
Anything you do in Crypto, do it with a clear state of mind on the outcome. Never brag or hit your chest to backup any crypto project whether your analytical skills is overtime logically outstanding – the market can make sharp turnaround and shock you in the twinkling of an eye and the whole thing might be over.
Obey the aforementioned rules to save yourself huge stress over any uncertainty that comes when you trade. Be teachable too, and never allow your limited knowledge to represent your global truth.
Overtime, newbies in the crypto currency market do make enquiry about exchanges where they can trade crypto. Huobi Exchange is recommendable – endeavor to do your research, trade cautiously and responsibly.
Overview on Crypto Exchanges: Brief Lecture for Newbies
For the newbies in Crypto, here’s a brief lecture, as many crypto enthusiasts in our community reached out – seeking to understand what a Crypto Exchange is about.
A crypto exchange is a platform where you can buy and sell cryptocurrency. In other words, it is an online marketplace where users buy, sell, and trade cryptocurrency.
Here’s a search tool… CoinMarketCap – an info, price-tracking website for crypto assets. They dish out reports on the trading activities of thousands of markets but does not directly sell or buy crypto. They are not crypto exchange, but a crypto analytical platform/tool focused to make crypto discoverable and efficient globally by empowering retail users with unbiased, valid information. Their official website: Coinmarketcap.com, from there, you can see many crypto, and also be able to get verified information about the crypto.
Another related platform where you can view crypto prices live, crypto charts, market cap, trading volume, crypto exchanges, etc…, is CoinGecko. Their official website: coingecko.com, you can Google search for detailed explanation of any term/word you didn’t understand to foster your learning.
When you check CoinMarketCap, you will see Exchanges. Tap on it, and you will see all based on ranking. Currently, Binance is the leading crypto exchange globally. So, anyone that interests you there, you can get every necessary information about it and their official website too.
NB: Those Exchanges you’ll see there are termed Centralized. That is, they are like your mobile banking app – whereby you get to do identity verification and in any case you forgot your login details, you can always do forgot password, etc…
“Centralized” Exchanges are the ones who are in charge of your asset’ security. If you do anything illegal (which may be against their policy) on your account, they can as well restrict or freeze your assets. If you will recall, there has been many times that Binance recovered stolen cryptos…, you can Google search for full story of how it all happened.
Centralized exchange may not ask you to generate PrivateKey (Passphrase, Seedphrase as you may call it), because it is not necessary for them… Google search for details about any term you didn’t understand…
So, as a newbie, centralized exchange is best for you. Some of the centralized exchanges we’ll recommend are: Binance, Huobi, Gate.io, Bitmart, Okx. You don’t need to have all for now, just start with anyone you prefer. Remember, go through coinmarketcap.com to fetch info about them and their official website oh – to avoid signing up on a cloned website.
We’ll end today’s lecture on Centralized Exchanges here. Next time, we may talk about Decentralized. You can also Google search to learn ahead. Kind regards and stay informed. #SoazNews