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Five things to know before investing in Bitcoin and Crypto for absolute beginners

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The year 2020 was tough for everyone and 2021 is even worse for some, as the second wave of COVID-19 hit the country so badly. The economy is still yet to recover. Businesses, especially retail, offline services, hotels, and tourism are still struggling. People who have lost their job and source of income realize the importance of having an investment. Even when our schools and colleges are still shut and events are closed, there is one thing that is making a loud noise. The financial market is making a crazy and dramatic run. You have probably heard of how people are making huge returns from the stock market and crypto. You have seen the news that ultra-rich people are adding billions to their net worth, a random guy making his first million or even billion in lockdown and you are probably wondering how you can also do the same.

Whether you are in your early 20s or your 30s you have this crazy idea of retiring early and pursuing your passions. You have bigger goals and ambitions but you need money. Also, you indeed need money to make money.

While you are searching for ways to make money, you have heard of bitcoin and crypto, you have also seen your favourite celebrities posting about bitcoin or even dogecoin. Before you put your hard-earned money into this so-called ‘Bitcoin- The new digital gold’, let us tell you five things to know before investing in bitcoin and any other cryptocurrency. Here, we will emphasize more on bitcoin as it is the king of cryptocurrency and the first & only truly decentralized financial system.

Sometimes it’s better to seize the opportunity right away instead of wasting time thinking about it

In life, you are presented with many opportunities at many points in time. You often miss them not because you are incapable but because you overthink them. You experience doubt, confusion, and fear if the opportunity is right for you. Bitcoin has already proven itself over and over again. Once you buy some Satoshi, you will feel the concern of knowing more about it. You will want to know where you are putting your money into and this will push you to unveil the beauty and the wonder of bitcoin innovation. When you take too much time thinking if this is right for you, the market is moving on and you may miss some fun.

Bitcoin is universal, you don’t need to go to America anymore to become a millionaire

Human civilization started more than 5000 thousand years ago and it has proven again and again that our very instinct has a desire for wealth and richness in all forms. The tool we have, money, has transformed our way of life for ages. To live rich in ancient times you either need to have been born to a royal family or you are born a great warrior. This is not the case anymore in our modern life. We live in a free society, in a humanist world that advocates a free-market economy, the right to vote. In the last century, everybody dreamed of America, where anybody can become rich and powerful. Today that American dream can be found everywhere. The world financial system is no more concentrated in New York or London, but it is right there on your smartphone. You have your bank which is operated and controlled by yourself. For the first time in human history, we have a monetary system where anyone in the world can participate in the economy.

Don’t get wrong, Bitcoin is not a get-rich-quick scheme

I got you. You are interested in bitcoin and crypto because you want to get rich, you want to make money quickly and Bitcoin has indeed become the best returning asset in the last decade. It is also true that you are attracted to bitcoin mostly because of its monetary gain. Well, there is nothing wrong with it. The returns bitcoin and crypto give you in one year will take more than ten years in the stock market. But, don’t get it wrong, bitcoin is NOT a get-rich-quick scheme. In one month you may see your asset with a 100 percent return and lose everything the next month. You will experience ups and downs along the way, you will hear lots of noises. FDU- Fear, Doubt, and Uncertainty will come before you. But what may come, remember to stick to the principle — to the foundation the bitcoin has laid down for you which is to be a truly decentralized financial system allowing fast and free transactions across the globe.

You don’t have to buy full one bitcoin, you can start with a fraction of it

Humans always have this thinking of getting into big things directly without getting the small things done. We always want a big job right out of college, big money for the first paycheck, setting up a big business without learning from small ones. The fact is we jump off the steps. There is always a saying, ‘there is no shortcut to success’, and this is true for bitcoin and crypto too. The truth is, this industry is very young and no one knows what the future holds. At the time of writing this, one bitcoin cost INR 34,09,233. But you can start as little as Rs 100 at Unocoin. To know more about how you can start small, we recommend you to read this blog which explains everything you need to know for buying bitcoin. Don’t buy bitcoin, Buy Satoshi. You don’t have to be great to start, but you have to start to be great ~ Zig Ziglar.

The more you learn about bitcoin and crypto, the more you will benefit from it

Bitcoin started as the result of the failure of the modern financial system. Ironically, the bitcoin whitepaper, ‘Bitcoin: An electronic peer-to-peer cash transaction system’ was sent to a group on an email list exactly 45 days after the collapse of Lehman Brother, one of the famous banks in Wall Street, New York. If you connect the dot, there is something to learn from why bitcoin started. So, the more you learn about the traditional financial system, the more you will realize why you need bitcoin and crypto. Bitcoin is not only about money, it’s all about freedom and rights. Bitcoin is such a revolutionary innovation, the rich elite avoids it, institutions shun it, the bank and wall street dislike it.

In conclusion, have patience and give time to your investment, be generous and share the wonderful opportunity of bitcoin with your circle and keep growing.

Unocoin is India’s first and the most secure bitcoin trading app. This exchange app was founded in 2013. You can buy and sell bitcoin instantly using the Instant Buy and Sell feature. Not just this, you can also buy ETH and Sell ETH in no time. With more than eighty-seven coins listed on this best cryptocurrency exchange in India,
you can also accept bitcoin from your friends from any location. You can also know which cryptocurrency works best for you with the price ticker and notifications. The most popular cryptocurrencies like Bitcoin (BTC), Ether (ETH), USDT (Tether), BNB, Ripple (XRP), Cardano (ADA), Solana (SOL), Binance USD (BUSD), Dogecoin (DOGE), Polkadot (DOT) and other popular altcoins can be traded on the go. The new Android and iOS applications make Unocoin the best cryptocurrency app. With the unique feature of the Systematic Buying Plan, you can buy and sell bitcoin and Ether periodically. What more? You can start your crypto journey using SBP for as little as INR 10. With another exciting feature called Crypto Basket, you can diversify your crypto portfolio based on market capitalisation (Market Cap) or Volume. These two excellent features make Unocoin the best cryptocurrency platform.

Love Crypto Coins. Love Unocoin.

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Disclaimer:

Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).

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