Ben Yu on the emergence and existence of cryptocurrency in the market
I would like to tell you about the Ben U article, which is dedicated to the emergence and existence of cryptocurrencies in the market. Ben Yu successfully graduated from Harvard, received a Tile Foundation scholarship and is currently a blockchain enthusiast.
“From the moment when the Nas Daily video came out, which told me how I earned $ 400,000, while investing no more than $ 10,000, people from all over the world began to throw questions to clarify how to start invest in cryptocurrency.
Answering these questions, Ben Yu noted three main things:
“First of all, today cryptocurrency is very popular, which can not but make me happy. I am sure that cryptocurrencies to buy and blockchain technologies may well fundamentally change the existence of our world. All these changes remind me of the appearance of the Internet in the 90s.
Secondly, the question of investing in cryptocurrencies should be treated with full seriousness. At the moment, this is a very risky investment, as it is still at the initial stage. Not a few speculators and dei-trades wasted a considerable amount of money trying to trade in cryptocurrencies. And I was no different from them when I started doing it myself. The first $ 5000 invested in cryptocurrency was immediately reduced to $ 500, which is at least 90% of the net loss.
Thirdly, all that I am talking about is only my point of view, and not any objective truth in the world or opinion for the perspective of any other person or subject. I devote all this only to tell about my personal approach to cryptocurrency and about what has benefited me personally in studying this area. ”
Ben Yu is of the opinion that it is not worth investing in something that you have no idea about. In order to devote the most detail to that area, he divided his article into 3 conditional parts:
In the first part, he proposes to get acquainted in detail with the general concepts and what Bitcoin and cryptocurrency are. It is rather the theoretical part, which reflects the following points:
– the history of the emergence of Bitcoin and its background in earlier years;
– the advantages of cryptocurrency, namely: the ability to divide the currency into any number, the anonymity of transactions, transfer speed, no need for intermediaries for both transfers and storage, etc.
– a positive impact on the economy;
– The negative side of the sale of Bitcoin and the arguments against them.
– comparison with the already existing currency (paper money and gold).
According to Ben Yu, in more detail with all the information can be found in the book called “Digital Gold”, which describes the entire history of the emergence of Bitcoin, starting in 2015.
After a detailed dedication to the theory of cryptocurrency, the second part will deal with his personal philosophy of investing in the direction of the crypt. Ben Yu will cover the following topics in this section:
– The most common mistakes with examples from his personal experience;
– advise how best to avoid them;
– what you need to pay attention to before buying;
– will make a small bitcoin comparison with such cryptocurrencies like Laitcoin and Efiruim.
In the final part, he will be able to demonstrate step by step how to start investing in cryptocurrency. Describes in detail about how to purchase cryptocurrency and possible storage options. Each section will be clearly marked, so if you wish, you can skip what you are already familiar with.