Are you not familiar with cryptocurrencies yet and your curiosity finally caught you? The world of cryptocurrencies is vast and is full of terms and practices that can be a challenge for any beginner in the growing industry of cryptocurrency investments.
But while that may be the case, it does not mean that it is impossible to immerse yourself, or continue to succeed in it. If you are willing to do the exhaustive research necessary to invest in a responsible way and ask you some important questions, you are ready to start.
This brief guide provides three key questions that you must answer before embarking on your investment adventure.
Are you willing to run the risk of financial losses?
One of the most important things you should know about cryptocurrencies is that they are an extremely volatile investment. In a matter of days, a promising currency can fall dramatically and lose large percentages of its previous value, or a dark helpless can arise and enrich investors in the blink of an eye.
Of course, as with any other investment, there are some patterns to detect and make predictions based on them. But you have to really know what you do to be able to do this, and even then, nothing is guaranteed. In the end, you never know what will happen in the cryptocurrency market.
Ask yourself if you are ready for risk before compromising your money. If so, one of the main recommendations is always to do your own research and stay updated on the trends and fluctuations of the cryptocurrencies. And, of course, it is advisable to invest only amounts that you can allow you to lose.
How good are you to remember passwords?
For not initiated, this question may sound like a bad joke attempt, but we promise you that we are serious.
Unfortunately, lost passwords are the root of an alarming number of financial losses of cryptocurrencies. People who would be millionaire if they sell their cryptocurrencies simply cannot access or collect their fortune due to a ridiculously small error: they have lost any sheet of paper, word document, impression or note that they kept with the password of their cryptographic wallet.
For example, it is estimated that almost 3.7 million Bitcoin (BTC) could be lost forever because the owners lost the passwords of their wallets. For many, a “trapped” cryptographic purse is simply a cause lost due to the only reason that the cryptographic world does not have an intermediary such as a bank to forward or restore your password.
While this is still the hard truth for most of the “inaccessible portfolios”, some lucky users have seen in recent years Computer pirates to enter successfully and obtain control of their cryptographic wallets. But there are few and distant from each other and in no way always successful, so it is definitely much safer to keep your login data per t or account.
How aware of the environment?
With how integrated computers have become in our lives, it is easy to forget the impact they have on the environment.
But it does not matter how much we would like to forget it, the amount of energy that is needed to have a computer in operation will inevitably result cases is comparable to what some nations use.
Therefore, the purchase and sale of cryptocurrencies is “not so good” for the environment, which is why some important companies still do not invest in cryptocurrencies. The sensation between investors aware of the environment is that it needs to be done more so that cryptomying is even more ecological.
Some companies such as Tesla have even retracted to consider accepting payments in Bitcoin, despite the fact that its owner previously expressed their support for La Moneda. (Tesla bought Bitcoin and has not sold it).
Despite these concerns, the use of green energy for cryptocurrency is increasing as miners resort to renewable sources. It is also remarkable that more efficient more efficient mining forms are available: These cryptocurrencies do not require so much energy to ensure their networks.
So, if you choose to invest in a cryptocurrency, an important consideration could be the impact on the environment.