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.