Thread: Crypto 101?
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Old 01-11-2022, 01:29 PM
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AMSOILGUY AMSOILGUY is offline
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Default Crypto 101?

I followed Investing 102 for many years and credit Greg Weld(RIP) with helping me get my first brokerage account, custodial brokerages for my kids, recognizing that I could get in the game without paying administrative fees and doing it myself. I don't remember the topic of crypto currencies being talked about. Maybe I missed it or at the time it wasn't relevent to 101. I feel like things have progressed positively since 101 began for crypto. You can earn all kinds of interest and build lots of passive income.

Let's get a crypto 101 going so we can learn from each other in this space!

I bought my first crypto about 2 years ago. It took me a long time to look at what was going on. I had a good friend telling me you need to get in the game. I hated the idea of the whole thing"electronic money". With his persuasion and doing lots of research into blockchain technology and the politicians trying to regulate it rather then destroy it I dove in. My only regret is I didn't do it sooner. Who knows what's to come and yes I know I'm late to the Bitcoin train but I believe that is just the tip of the iceberg. I started out on Robinhood like lots of people do but quickly learned you never own the crypto because you can't remove it from the app. Their hand was really exposed with the whole AMC AND Gamestop fiasco. I would not buy Crypto there because its not really yours.

I then transitioned to Coinbase which is a great platform and still use it today. I then learned about Coinbase Pro which has way less fees then regular Coinbase. I have moved most of my crypto over to Crypto.com because that is where I found the best interest for lots of what I was buying previously. I got their debit card which pays me rewards in crypto for all my purchases."I can explain more about this if you have questions"

Most of the exchanges offer free crypto for downloading the apps and referring. I did include mine but really am more interested in learning what you all have been doing in Crypto.

What exchanges are you guys using?
What defi wallets do you recommend?
What NFT projects are you watching/hodling?
What NFT exchanges are you using?
What tokens/currencies are you earning passive income from?
What security protections are you using and why?

Yes I know some people probably think its all a scam or a phonzi scheme and if you have information we should all know about those things lets here them also. It's definitely a big boy playing field as in if you make a mistake it may be irreversible.

I can share some stories from people I know who lost money transferring it in formats the receiving exchange/wallet didn't except.

Definitely be careful and do research like any other investment but I feel like it's here to stay. Many of you probably figured this out long ago and have reaped the rewards. If you will share your story I want to hear about it as do others I'm sure.
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Last edited by AMSOILGUY; 01-14-2022 at 03:51 AM.
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