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posted ago by JoyousMischief ago by JoyousMischief +15 / -2

Crayon eating mongoloid here. I'm diversifying a bit right now and want to try some investments in crypto currency. I'd very much appreciate any sources/channels you think would be good for learning about crypto, especially given how often financial sources are shill of one form or another. Thanks.

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Qanaut 5 points ago +5 / -0

The best thing you can do is to begin researching the top 100 cryptocurrencies.

Study their history, study the teams behind them, study what these projects aimed to accomplish, and how they gained their success.

Realize that it can take up to four years for a cryptocurrency project to get off of the ground.

Understand your risk margin. Certain cryptos like Bitcoin, Ethereum, and Binance can be considered safe investments, but ultimately not as lucrative anymore due to their limited growth potential compared to altcoins that are just getting started.

I cannot stress enough the importance of researching every project you invest in. DO NOT invest in hype. This is a good way to lose your money. Many of the hype coins are what can be called "shitcoins." They have no project behind them, they have no goals ahead of them, and they have no purpose in the marketspace aside from being get rich quick schemes. When the hype dies down, these coins will all bite the dust.

Look for coins with good fundamentals. Look for coins that aim to actually innovate in the crypto space. A good example of this is the coin Revolution Populi. They are aiming to create a cryptocurrency clearing house in support of a decentralized layer-1 blockchain for decentralized applications like social media sites. Coins like RVP have a purpose behind them, and excellent use cases.

A great site to begin your research into crypto projects is coinmarketcap.com. This site lists nearly every cryptocurrency in existence, as well as the fundamentals and market information on these coins. Your best strategy will ultimately be to buy and hold. Find a crypto project with strong fundamentals, do your due diligence and research, and only then should you invest, and invest ONLY what you can comfortably lose.

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JoyousMischief [S] 1 point ago +1 / -0

Thank you very much for the in depth response. I'll be sure to check out coinmarketcap and go over the fundamentals of the currencies I was considering.

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ShowMeWin 3 points ago +3 / -0

coinbase.com has tutorials that pay you a small amount to complete.

Trade via pro.coinbase.com instead of coinbae.com. You can move assets to pro for free and trading fees are lower.

I enjoy coinmarketcap.com but I think it is owned by CCP (I could be wrong).

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JoyousMischief [S] 1 point ago +1 / -0

Thanks. I already used coin base earn but accidentally locked myself out halfway through by opening a pro account before I watched all the videos lol.

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TrumpsTower 3 points ago +4 / -1

Buy the hype. Shibu and doge for example. Get in while its hot.

Dont wait for Coinbase to list something. Use other apps.

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JoyousMischief [S] 2 points ago +2 / -0

Thanks for the advice. Unfortunately I'm in the NY so most crypto traders aren't available. Seeing what I can do to get around that lol

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DitchingDollars 2 points ago +2 / -0

Nord VPN

Kyc will get you tho

Kyc stands for know your client

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Qanaut 1 point ago +1 / -0

HORRIBLE advice.

If you follow the hype, you will follow it off a cliff.

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TrumpsTower 1 point ago +1 / -0

Well be smart dont toss thousands.

I put 35$ into shib and made 300$. Not bad right? Do what you can afford to gamble.

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Busker3000 2 points ago +2 / -0

I feel you. Still a noob myself and its hard to find sources that make sense. So many youtubers and tutorials, it all becomes the same monotone white noise.

I found one guy by chance I like: Crypt0Jack (not Cryptojack, different guy). He only steams on twitch twice a week and one a week YouTube videos. He is the only one that isn't white noise (to me) I actually learn something every time he posts.

I'm still looking for other places myself.

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JoyousMischief [S] 1 point ago +1 / -0

Thanks, I'll check it out.

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MobileDev4Trump 2 points ago +2 / -0

Chart Logic Technical Analysis Handbook by R.S.Varnes. I also like InvestAnswers on YouTube.

It's also worth reading The Bitcoin Standard, Layered Money, Crypto Assets Investing in the Age of Autonomy.

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JoyousMischief [S] 1 point ago +1 / -0

Thanks for the recommendation. I'll look into them.

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CaptainButthurt 2 points ago +2 / -0

Something simple to do once is read the bitcoin white paper. I think its only like 9 pages and useful insight. Its a quick read for anyone that wants to better understand the technology and ideas behind cryptos.

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JoyousMischief [S] 2 points ago +2 / -0

Thanks. I'll make sure to do that.

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TopHat213 2 points ago +2 / -0

Not sure if they mean anything, but I watch content from Tyler S, altcoin daily, Lark davis.

They tend to talk about fundamentals and whatnot.

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JoyousMischief [S] 1 point ago +1 / -0

Thanks. I'll check them out.