Before I start writing about this post, I am not an stock expert or a expert on cryptocurrency. Please do your own research on the stock market and on cryptocurrency. I know a lot about the stock market but not so much in the cryptocurrency space but I do own some cryptocurrency.
On the blog, I love taking about the stock market and I love making passive income. But as time passes I wanted to put some money in different places. I was not really into cryptocurrency until my wife keeps telling me about cryptocurrency and I should start looking into that.
At the time she told e, I was very deep into the stock market so I didn’t have time to research any cryptocurrency. My wife brought some doge coin and when everyone was talking about it, the price went up and she made some money. Now I should have just invested $200 into doge coin but I missed out but my wife made some money off of it. So I took a small break from the stock marker and started to look at cryptocurrency and I am still leaning but here are some things that I have found.
What are the advantages and disadvantages of investing in cryptocurrency compared to regular stocks?
So to star with cryptocurrency, right off the bat, it’s hard to understand the tech behind some of the cryptocurrency and the blockchain. I still have a hard time telling people how the blockchain works. It was much easier to explain how a business or company makes money than how t cryptocurrency token works and how to make money from it.
Trying to understand how a hot and cold wallet works takes time and learning how some token can be used to buy things takes time to learn as well. I don’t know all the ways to make money with cryptocurrency but I do know a few.
You can buy cryptocurrency that you think that will go up in price based on what’s it’s backed by and what the token do. Different tokens do different things and there are always new cryptocurrency coming out all the time. So sometimes cryptocurrency can work like stocks with the buy low and sell high.
Then there is staking or earn more cryptocurrency if you just hold your coin or lock them up for a certain amount of time. Something like a CD from a bank where you place some money into CD for some time and you will earn more money but in the cryptocurrency space you will earn more of that cryptocurrency.
Next is mining where you can mine cryptocurrency from your laptop or buy something that can mine for you. I don’ know a lot about mining cryptocurrency but that is something that you can have look up for yourself.
