Hi There, welcome to Cryptocurrency Australia. Today we are going to talk about Bitcoin, What is the worst advice you have ever received regarding Bitcoin? We have all heard the doomsday dudes, the hodlers, the 1 day in to Bitcoin and Chill and the panic sets in.
So, what is the worst advice we have recieved?
Bitcoin is a SCAM bro, sell it and focus on real stuff like, actual things. This bro dude GUY, is usually a retart thats doing nothing positive in his/her life. What I hate about this approach the most is that these people do not understand something and they will hate on it. These people can go to hell. Dismiss them immediateley, Negatives are only good for pictures, not advice.
Some other ones that seem to come out everytime Bitcoin takes a plummet is the Warren Buffet one, yeah that old bastard has a say about everything, even the things he does not invest in. Now, again, Warren Buffet, publicly states he is not on the side of Bitcoin, he prefers and sticks with Wall St Stock Exchanges. This is understandable, The Bitcoin market is worth alot of money, and it is extremely violatile, we already know this right? Extremely volitiole is how big money is made, if your scared about violatitly invest in Gold, it will go up, very slowly though.
Its going to CRASHHHH——SSSSHHHHHHH
Bitcoin did crash, infact it crashes every year around the same time, and usually loses 50% of its value around January every year, this is because alot of bitcoin whales will pull out from the investment and the price will drop, however, its not just whales that account for this, its only 5% whales, 95% FUD (Fear, Uncertaintany, Doubt). FUD is usually created by the mass media and illuminati to make sure Bitcoin never grows and every body will panic sell. This is extremely accurate, except the illuminati part, we are not so sure about that, but we do know the media hates bitcoin. Just google the word Bitcoin, and you will see what I mean.
You should sell everything, and buy this, its a SURE THING!
Invest in RIPPLE BRO!! ITS THE WAY OF THE FUTURE, CENTRALISATION AND SHIT! BITCOIN NEEDS IT, WE NEED IT! This couldnt be further frm the truth, Bitcoin is what it is because of decentralisation, why on earth would you want to turn the precious Bitcoin into a regular centralised POS (POS means piece of shit) no hidden code here.
I am not saying turn down your freinds or internet mates, because sometimes they will have good advice, just make sure to do your research, dont just put all of your eggs into one basket, make sure you diversify your portfolio and shit and hold the old schoolers, and a few of the new schoolers. I am not going to give you advice on what you should buy, every body will have there own choice, we are not here to sway you. But, BUY RIPPLE BRO!! GNA MOON!!, just kidding.
Day Trading Bitcoin and Cryptocurrency is useless, just buy & HODL (hold on for dear life)
Either is fine really, you do not need somebody telling you what to buy and sell, its your own choice, some people will find they have luck, or learned to day trade using courses, books and what not. If you are a beginner, research the coins by jumping to CoinSpot, look at some charts, see the entire history of the coin, if you do not know how to read charts, maybe check out this course. It will give you great insights into Cryptocurrency trading.
Even though, there are many bad advices given about Bitcoin and the Cryptocurrency markets, we cant help but be amazed at the technology, the massive amounts of human beings buying and using this in everyday life.
A few easy tips to remember when buying and holding Bitcoin & Altcoins
I know this has been said over and over again, BUTTTTTTTTTT!!!!! Never invest more than you are willing/able to lose – Bitcoin is a very risky investment and you should keep in that in mind at all times.
After buying Bitcoins make sure to move them into your own personal wallet and never leave them at the exchange unless you are trading with them regurlarly. My personal recommendation is to use a hardware wallet to store your Bitcoins. If you can’t afford a hardware wallet, try a paper wallet.
Make sure to buy Bitcoins only from exchanges that have proven their reputation. Such as CoinSpot Australia
Buy Bitcoins through Dollar cost averaging – This means that you don’t buy all of your Bitcoins in one trade but instead buy a fixed amount every month, week or even day throughout the year. This way you average the price over the course of a whole year. Here’s a short video to explain this concept: