Crypto Currency?

Yes, you read cor­rect­ly the top­ic is Cryp­to but why?

For many rea­sons not the least of which is that many peo­ple are begin­ning to see that per­haps the US dol­lar is not real­ly the best place to be these days.

This is a sad thing and some­thing also that brings up numer­ous issues that the USA faces.

We are in a time and place that has nev­er been before and with any luck will nev­er take place again.

With all of the polit­i­cal upheaval as well as the demon­strat­ed lack of trust in just about every­thing you can imag­ine over the last four years we have seen politi­cians take uni­lat­er­al actions that broke with prop­er con­ven­tion.

Con­ven­tion of the past as well as the present.

Just take one issue the key­stone pipeline, which was grant­ed and then act­ed upon by thou­sands of indi­vid­u­als and many com­pa­nies to the tune of sev­er­al bil­lion dol­lars.

More than one Gov­ern­ment act­ed on this per­mit includ­ing some that you may not even real­ize were depend­ing on this pipeline so that they could pur­chase US refined oil and petro­le­um prod­ucts which would be received and refined in the USA.

Now we have a sit­u­a­tion where more than 50 thou­sand jobs are about to be lost along with con­tracts num­ber­ing in the Bil­lions and Bil­lions between com­pa­nies and sev­er­al nations.

When this kind of thing hap­pens even when it should not hap­pen it brings trust issues which in turn caus­es the dol­lar to be less valu­able.

Fam­i­lies in many rur­al areas were gain­ful­ly employed and were depend­ing on those jobs to pro­vide for their fam­i­lies but now those jobs might be gone and the com­pa­nies that spent more than 150 mil­lion dol­lars on equip­ment to con­struct the pipeline have lost more than any com­pa­ny would be will­ing to write off.

In fact it is very like­ly that a num­ber of law­suits will be filed and just­ly so.

But what to do in the inter­im peri­od?

We have insta­bil­i­ty in the mar­ket and we have trust issues com­ing from peo­ple who live and work here and who pay tax­es here as well.

This is just one issue there are hun­dreds that have been cre­at­ed by fiat.

Nor­mal­ly what hap­pens is that we see pro­vi­sions of gov­ern­ment take place in a log­i­cal man­ner.

In the past this was respect­ed because it brings sta­bil­i­ty to a nation.

When you do not hon­or or respect the past then in the future trou­bles are nev­er far away.

So here we are in a place where the past is dis­re­spect­ed, the present is unknown and the future is in jeop­ardy.

This is a per­fect storm for dig­i­tal cur­ren­cy to hedge against both infla­tion and the deval­u­a­tion of the dol­lar by those who care not about the past or the future.

The thing is that for the most part the aver­age per­son does not under­stand how the dig­i­tal world of cryp­to cur­ren­cy works.

Those that do under­stand it may not com­plete­ly be aware of the many pit­falls that can bring seri­ous dis­as­ter to any­one’s wal­let.

Even if you knew all the traps and all the issues that go along with dig­i­tal cur­ren­cy there are like­ly half a dozen things you may not have con­sid­ered.

Dig­i­tal cur­ren­cy is not like hav­ing mon­ey in a bank.

We know what a dol­lar will buy from day to day and at least in the past it was fair­ly reli­able.

This is like­ly to change because we are fac­ing peo­ple who have no alliance with the 340 mil­lion oth­er Amer­i­cans that live in this nation and that is a real­ly huge prob­lem.

We can­not rely upon this cur­ren­cy and we can­not rely upon san­i­ty and nor­mal­cy to guide us because sad­ly there is no san­i­ty and there is noth­ing nor­mal about what is hap­pen­ing right now.

The thing about dig­i­tal cur­ren­cy is that while BTC might be val­ued at 32,000 or even 30,000 that does not mean that when you go to buy some­thing you can get equal val­ue.

What it can do is to pro­vide a method by which should insan­i­ty con­tin­ue and the dol­lar becomes untrust­wor­thy dig­i­tal cur­ren­cy could bring a cer­tain amount of val­ue to the peo­ple who face irre­spon­si­ble peo­ple who do not make nor­mal deci­sions.

Rather than to try to edu­cate you on every aspect of buy­ing, sell­ing or trad­ing crypt o, I will instead try to focus on some of the things that like­ly you may not real­ize about how the cur­rent sys­tem works.

There are many ways to buy and many ways to sell.

In fact you might be sur­prised at how many ATM machines are already in place even in small towns.

The ATM is prob­a­bly the least desir­able method because it has a cost asso­ci­at­ed that is high­er than what you could buy it for online.

So, like­ly the pri­ma­ry use of an ATM would be to con­vert or trade with some­one in your local com­mu­ni­ty.

It is still not real­ly the best way and also just about every method of buy­ing and sell­ing Cryp­to has a cost asso­ci­at­ed with it.

There are Exchanges, like Coin­base and many oth­ers, some of which are so dif­fi­cult to under­stand how they work that you feel like pulling your hair out.

Avoid those.

Even if you find what looks like a decent deal that is when you need to look around to see what the hid­den costs are like­ly to be.

The biggest trap I can see is that even if the mar­ket shows a price of 32000 That may not be the actu­al price, the actu­al price might be 31000 and that is a big prob­lem but one that you can look out for.

When you see a price it is usu­al­ly a price with a spread because the price changes lit­er­al­ly ever sec­ond and it can vary from .50 cent to sev­er­al hun­dred dol­lars all in a mat­ter of sec­onds.

To try to hedge against this volatil­i­ty of the mar­ket­place almost every place online and off line will almost nev­er give you the price that the mar­ket is actu­al­ly at.

For exam­ple on one web­site the cost for a buy was 400 high­er than the actu­al price at mar­ket.

You can go to a larg­er mar­ket­place and find a clos­er match say 200 plus or minus.

But then they have a fee which is nor­mal­ly about a half a point to one per­cent some­times less if your lucky.

The thing is even if they give you a bet­ter price that is clos­er to the mar­ket price it is still going to be high­er than what you might like to see.

The thing about Cryp­to is that even if you buy today at one spe­cif­ic price the next day it might be up by 1200 or more.. Also it could go down as well.

Over Time though the changes con­tin­ue and if your obser­vant you can sell and buy with a lot more reli­a­bil­i­ty.

The most impor­tant thing to remem­ber is that this is not a place for some­one that is broke and needs the mon­ey to feed the fam­i­ly.

Hav­ing said that it is impor­tant to real­ize that when you buy Cryp­to do it with mon­ey that you do not need.

Some peo­ple can make mon­ey buy­ing and sell­ing against the mar­ket price but they can also loose mon­ey so its impor­tant to real­ize that these prob­lems can hap­pen and that you should nev­er attempt to buy some­thing with mon­ey you can­not afford to loose on the chance that you might make mon­ey…

That is just com­mon sense right?

You bet it is but you might be sur­prised at the num­ber of peo­ple who dream about things like this with­out real­ly hav­ing the abil­i­ty to be in a posi­tion finan­cial­ly to do these mar­ket place pur­chas­es.

Like­ly by now if you are still read­ing this then you are ful­ly aware of all the pit­falls or if not then take this bit of advice.

Research.

Research.

Research.

Make sure that you know what your doing and if at any point you are not sure what you are doing is the right thing or you are con­fused about some detail.

STOP what you are doing and go back and do more research until you know what will hap­pen when you click the but­ton.

Vol­ume is still like­ly the way that most peo­ple actu­al­ly make mon­ey with this type of mar­ket approach.

The thing is that most peo­ple do not have the resources to do a vol­ume trade with­out blink­ing nor should you.

Even if you have plen­ty of mon­ey to play with smart peo­ple still take into account a strat­e­gy when it comes to buy­ing and sell­ing.

Just Watch the prices, know the terms, do your research and know what you are will­ing to spend and stick to it.

Coin Base is prob­a­bly one of the best places to get start­ed.

More so if you know very lit­tle about how Cryp­to works.

But should you decide to get start­ed just know that none of the things that I just told you are pub­lished at any exchanges.

They do not real­ly want you to real­ize the small details.

None of them do because they make mon­ey on the spread.

So. Get edu­cat­ed and as always do more research using dif­fer­ent places, Do not trust Google or Bing they can be fine places to learn but most of the search results will bring up web­sites where google is more like­ly to have an alleged advan­tage. They might deny that but it is more true than you might at first real­ize.

So be sure to look around and read a lot of dif­fer­ent sources.

This way you have a bet­ter chance of avoid­ing the pit­falls and get­ting a bet­ter cryp­to edu­ca­tion in the process.