I never wrote any articles on this site related to Bitcoin or any other Crypto Currencies, the reason behind was I don’t consider myself as a Crypto Guru yet even after 1.7 years of Crypto trading and learning blockchain technology and every related term.
When I started writing tech articles it took me 4 years of geeking and knowledge that’s why you find my articles unique and useful.
I have seen people who monitor CoinMarketCap for a week and becomes crypto Gurus.
I knew about Bitcoin since 2012 when I was playing CS GO and was offered to buy CS GO skins for Bitcoin but didn’t buy a single coin since I had no idea about cryptocurrencies.
When BitCoin made news during Mt Gox crash in 2014 I started learning about it but went in deep learning in 2016 and bought my first Bitcoin for $1.5K back in April 2017. (I had chance to buy BTC at $650 but had less knowledge and Hard earned money which I didn’t want to put on risk).
I gave so much time in learning, came to know about Blockchain, Mining, POS(Proof of stake) and many other related terms.
Then learned trading did mistakes, lost money, recovered and today I am holding more than 24 Altcoins, Altcoins which have a strong roadmap and they seem to be future proof projects.
If you are new in cryptos and want to buy Bitcoin and Altcoins then I am here to guide you, my learning and knowledge will help you to make a quick decision.
Should You Buy Bitcoin Now?
If you have bought some Bitcoins in 2011 you may have millionaire by now but that time no one knew that Bitcoin will skyrocket in 2017.
But what if you came to know about Bitcoin late?
No problem, Blockchain technology is still an emerging technology there is a very less real-world application of blockchain at this time, it will grow in coming years.
Even if you don’t find Bitcoin a future-proof investment there are several other altcoins and Etherium based tokens with future-proof projects.
Most of the time you need to buy Bitcoin in order to buy other coins and tokens, so you have to buy Bitcoin for Fiat currency because most of the Exchanges offer to buy bitcoin with real-world money.
Although there are exchanges who offers Etherium, Bitcoin Cash, Litecoin and few other Altcoins.
So the main question is Should you buy Bitcoin in 2018?
If you are totally against Bitcoin then no one can convince you, but if you think for the future you definitely want to buy Bitcoin and other good Altcoins.
Let’s go back in December 2017 when Bitcoin and almost every altcoin skyrocketed many people were interested in buying Bitcoin and they all were optimistic about it.
100 Thousands of new buyers bought Bitcoin at that time around the globe by looking at the skyrocketing price.
But was it clever buying? I don’t think so.
It was greed buying when people saw the price is going up and they bought coins so that they can make a good amount of money overnight.
But what? As of now in Feb 2018 BTC price dropped down to $7000/BTC. So did they made money?
Most of them lost it and blaming Bitcoin and not buying when the price is lesser than the half of what it was in Dec 2017.
That is totally wrong move.
Is Bitcoin Really Crashed?
If you compare it to the price it had 2-3 months ago then Bitcoin really crashed.
But, is it Crashed compared to the price it had last year?
NO, Cryptos are not going to make you rich overnight, if you are trading even from 4-5 months you may have realized it. Buy and give it time HOLD till you make a good profit. (Don’t buy scam coins and HOLD you gonna lose it).
Just look at the crash in Jan Feb 2017 and the Highest price.
It was traded at around $1200 in Feb which was the highest price in Feb 2017, is the current price(Feb 2018) lower than the highest price of Feb 2017?
So where is the crash?
It is still 6 times higher than what it was last year in the same time period.
By the time you may have understood that cryptos are long-time investments.
Here is what I have learned trading cryptos and you can apply it too in your crypto journey.
Tips to Buy Bitcoin and Altcoins
- Do proper research before buying any Crypto Coin.
- Read actually read I repeat read their whitepaper or just take an overview of it and check their roadmap.
- Check the authenticity of people behind the projects.
- Look for the team behind the projects.
- Check their technology.
- Check for their community portal and support center.
- Never buy just because peoples are buying it.
- Never buy any Crypto Coin at all-time high price. (You may lose it) Price will go down for sure.
- Don’t be greedy, you won’t get rich overnight.
- Don’t panic if the price is going down.
- Never do Greed Buy.
- Never do Panic sell.
- Buy coins which have future-proof projects.
- Don’t buy shitty coins and useless ERC20 tokens.
- Only buy coins (Projects) which have real-world application.
- Proof of work and Proof of Stake coins are beneficial.
- Last but not least, HOLD and keep Patience. (Most of the people lack this so they lose).
Remember Crypto Market is still to grow much, these dips are not Crypto death.
Did you buy Cryptos at the high price? Not to worry give it time you won’t regret it since there is much more to happen in coming years.
But you bought without doing any research your investment may be at risk.
So this was all about buying Bitcoin and Altcoins in this post, I will write more on cryptos in coming days and I will also do research for you guys to make the quick decision.
I need your opinion as I am thinking to start a new site dedicated to Cryptos, what do you think? Let me know in comments.
Disclaimer – Above suggestion is based on my experience and research, do your own research too before buying any Crypto Coin.
Good read!
In the end, no matter how you look at it, investing in bitcoins is a bit of a gamble.
If you think that way, every investment is gambling. Like you invested in Stock Market, bought Properties etc then what would be the value if a long recession happens.
Well, the risk is there no matter the choice. It’s just that in certain cases it’s bigger.
Good read! Personally found out about Bitcoin 2012 (something like when price per one was 7.5-20€ I remember so having hundreds or thousands of them was no big dea for “normal” person…if I only would have known. Did my research then and was buying and rarely selling since my purpose was to buy specific eguipment in tor based old market/community site. I think I had 140 highest at once and spend them in overall few thousands in years 2012-2014, trading basicly every day without participating in the development, forums or such of it only the value…
Then things changed in the tor site and in personal life and totally stopped reading or using or thinking about Bitcoin. I think 2017 exactly when the huge peak really was going on I got back on track and saw that many people made fortune, life without money problems never again and for their families too if they held by purpose or just “just had in old wallet”. Absolutely still and especially for long term investment if you have something to start of course or steadily adding more, but as for everyone do your research and participate in bitcoin forums and such. Yes chainblock tech has a lot potential in so many things that it’s not gonna just “die” the base of it.
Agree with you, blockchain tech is still to grow.
I always wanted to invest in crypto but didnt want to make any hasty decisions so i geld back although the crypto was to pickup in 2016 as i did not know how and where to begin with. This article for sure helps clarifyin the hiccups i had about bit coins. While i am mulling over the idea of this investment option, please could you direct me to a portal or a website to research on the projects attached to bitcoins and check for the trend of and bitcoin performance over the years.
Having a website dedicated to Bitcoins and Altcoins would really help novices like me; but i suggest give this initiative sometime and check for reponses before you take that decision. As for me I will always look forward to your newsletters.
You can head toward coinmarketcap.com to do the analysis of bitcoin and other altcoins, you can also pull up the historical snapshot there and the exchanges who are selling bitcoin.