Don't Be Afraid of Cryptos! Buy Bytecoin!

Are you afraid of sinking your hard-earned money into the cryptocurrency market(s)?

Well, it isn’t as scary and complicated as you might think. I’m not a financial expert, but I’ve done some research on cryptos, and have figured out that – to us low-information end users – the crypto market is much like the stock market. The details of how it works will likely always be murky, but to understand the basics of investing your money, that isn’t so difficult.

The very concept of investing in the stock market is simple – you put in $100 and hope it turns into $150. You do your due diligence and accept the risk. To simply buy Bitcoin, or other cryptocurrencies is nearly identical. Choose and buy. It may go up and it may go down. Selling the stuff can be a little trickier. But if you choose a reputable trading platform, selling will be made much easier. I recommend Coinbase. This is the work of financial expert, Max Keiser. Google that name. He’s the CryptoDaddy.

In December of 2017, when Bitcoin was at $17,000, I bought about $150 in Litecoin, and about $30 in Bytecoin. Bytecoin is a “penny crypto” – trading at about 1/5 of a cent when I bought it. It immediately (within a day or two) went up more than 300%. Litecoin also went up in that time. I was thrilled! But fast forward a few weeks and the big Bitcoin crash happens! My huge gains were wiped out, but I still have what I started with. To me, cryptos are safer than stocks. Of course nobody knows how safe they are, nor their longevity. But for now (and IMHO forever and ever amen), they are a very interesting and potentially profitable endeavor!

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