Looking ahead in the future is something we are told. We should do it so we can plan ahead and shape what our lives will be like in the next 10-20 years. This is easier to say than to do it, as there are so many factors that could affect our plans. A prime example would be the current COVID situation, and I doubt anyone thought the world would be shut down by a virus back in 2010.
If we want to plan for our future, we need to have some safety protocols in place like a “break glass in case of emergency” but how do we do this?
The best way to plan for something like this is to have some money stored away. We can use that stored money in the event that we lose our jobs or our business. You also need to think about a possible recession, similar to America in 2009. To avoid both of these happening, we suggest investing to cryptocurrency.
Cryptocurrency is meant to a decentralized currency, so it won't drop in value if our economy does suffer a blow (unless it was a stablecoin like Tether which is linked to the US dollar).
If you are new to the world of cryptocurrency investments, then here is a quick guide to get you started.
What you need
1. A wallet
A wallet is a piece of software that you use to store any cryptocurrency you buy.
2. A computer or phone
You can use websites or "exchanges" to buy your crypto, or you can use phone apps that can be downloaded from the Google Play Store for Android and App Store for iPhone.
3. Knowledge of cryptocurrency
You need to educate yourself about cryptocurrency, which will help you decide when is the best time to buy and sell your crypto to maximize your profit.
Once you have these, you are ready to go.
Cryptocurrency is just like any other investment and may take some time to see any kind of profit. So, it's perfect for someone who works long hours and wants to invest but doesn't have time to be fully get involved. Investing on something that isn't physical requires almost zero maintenance. Unlike if you invested in a piece of property, the situation would be a complete opposite.
Keep in mind though that while some people have made decent money from trading cryptocurrency, and equal amount have lost money due to investing in the wrong crypto at the wrong time. Our advice is to read up on these disaster stories and learn from their mistakes. Use their experience as a road map to avoid any of the pitfalls they fell into.
The last thing you need to do is make sure you track your cryptocurrencies price daily as they tend to change quite rapidly.
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