CHAPTER 1. MYTHS ABOUT CRYPTOCURRENCY AND THE
MAIN RULES OF THE CRYPTOCURRENCY MARKET
Before setting goals in the cryptocurrency business, first let’s go through some
common misconceptions around cryptocurrency.
MAIN RULES OF THE CRYPTOCURRENCY MARKET
Before setting goals in the cryptocurrency business, first let’s go through some
common misconceptions around cryptocurrency.
CRYPTOCURRENCY MYTHS
I frankly admit that I also almost got infected with scepticism towards
cryptocurrency at the beginning of my journey, as many people scared me by
telling me that cryptocurrency is a wildcat venture, financial pyramid, or the
like. Such false beliefs often fence many people off from possible success. Only
a small number of sticklers verify such statements about cryptocurrency instead
of just blindly believing them.
I am sure that you have also heard allegations that no country will ever recognize
cryptocurrency so cryptocurrency has no future. To refute this, it is enough to
recall the recent increase in the value of cryptocurrency. Some countries have
already recognized cryptocurrency as means of payment. Thus, this so-called
“entertainment for geeks” has evolved into very real business for investment
bankers and various corporations.
Therefore, if you, personally, still do not earn money in cryptocurrency, it is
most likely because of the large number of the aforementioned statements, which
you may have heard from pseudo-experts.
Let's enumerate the statements that stop many people halfway:
1. It's too risky. What if I invest money and cryptocurrency is banned
worldwide the next day?
2. I do not have any financial education so I wouldn’t know what I
was doing;
3. My friend/brother/neighbor invested money in cryptocurrency and
lost everything;
4. The topic of cryptocurrency is too new and difficult to understand
as it is so I'd better wait a couple of years when everything
becomes clear.
All these statements are merely excuses for your inaction. While you come up
with additional excuses, people all over the world have already built a business
in the cryptocurrency market and are making a profit. Ask yourself: what makes
me worse than these people? If you realize that you are not worse than your
friend/brother/neighbor, who already earns money in the cryptocurrency market,
then ask yourself the following question: why should I enter the world of
cryptocurrency business right now?
I frankly admit that I also almost got infected with scepticism towards
cryptocurrency at the beginning of my journey, as many people scared me by
telling me that cryptocurrency is a wildcat venture, financial pyramid, or the
like. Such false beliefs often fence many people off from possible success. Only
a small number of sticklers verify such statements about cryptocurrency instead
of just blindly believing them.
I am sure that you have also heard allegations that no country will ever recognize
cryptocurrency so cryptocurrency has no future. To refute this, it is enough to
recall the recent increase in the value of cryptocurrency. Some countries have
already recognized cryptocurrency as means of payment. Thus, this so-called
“entertainment for geeks” has evolved into very real business for investment
bankers and various corporations.
Therefore, if you, personally, still do not earn money in cryptocurrency, it is
most likely because of the large number of the aforementioned statements, which
you may have heard from pseudo-experts.
Let's enumerate the statements that stop many people halfway:
1. It's too risky. What if I invest money and cryptocurrency is banned
worldwide the next day?
2. I do not have any financial education so I wouldn’t know what I
was doing;
3. My friend/brother/neighbor invested money in cryptocurrency and
lost everything;
4. The topic of cryptocurrency is too new and difficult to understand
as it is so I'd better wait a couple of years when everything
becomes clear.
All these statements are merely excuses for your inaction. While you come up
with additional excuses, people all over the world have already built a business
in the cryptocurrency market and are making a profit. Ask yourself: what makes
me worse than these people? If you realize that you are not worse than your
friend/brother/neighbor, who already earns money in the cryptocurrency market,
then ask yourself the following question: why should I enter the world of
cryptocurrency business right now?
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