For some time I was thinking about writing a short post about my experiences and beginnings with cryptocurrencies and share some general thoughts…with which some may agree and some may not :) The fact that I am not a native English speaker, however kept me back from that idea. But still I somehow found the courage to do anyway :) I am just warning you in advance...please bear with my grammar :)
I have read about and Bitcoin for a first time around 2013. At that time, I did not take it seriously and did not pay much attention to it. Then in 2014, I have bought my first 0.1 Bitcoins. I did not want to risk too much, because at that time, I still mainly believed it to be a hoax of some kind, but I still gave it a chance.
Now at 2018, I am sure that cryptocurrencies are here to stay. The main question is just: which ones?
Today there are so many coins out there, that beginner investors have hard time to know which is good and which not. So, many of them invests in the coin which is most hyped and the team gives most high flying promises. Or they do another mistake and they buy the coin at the point when the price soars up, because they expect to grow even further. As many of you have probably experienced, many times then the price is starting to fall.
Of course, I have also made those mistakes in the beginning. No wonder, considering that I did not have a clue what the hell am I doing. I also bought some random coins because I was looking at graphs and choose the ones, which were at some time in the past already high, and hoping that the price would rise again. Well for some of them did, but for many it did not.
Later on I have tried with the day trading. And failed. I have lost more coins than I got, mostly due to impatience.
What all that failures had in common was lack of knowledge and experience. I wanted to make money as fast as possible, because I have read about many success stories on the internet and thought that also I can do it. Well maybe I could, if I would not lack one essential ingredient for success mentioned earlier – KNOWLEDGE!
Later on I realized that I need more knowledge and that the way to success is not only to invest money, but that one must also invest time, in order to succeed. Time to learn, explore and investigate. Until then I also learned many things, based on my mistakes, which were by the way more expensive than would be investing some time to learn :)
However, sometimes it is hard to find good and reliable information. One great place for beginners to learn about cryptocurrencies which I found and can recommend is web page of DNotesEDU https://dnotesedu.com/. They have some great articles and tips from which beginners and even more experienced traders, could get some valuable information. For free, you just have to invest a little of your time.
Today I know that there are still many things, which I do not know, but at least I have learned to be much more careful in which coin and/or team to trust. I have come to realize that the main factor is not only what the coin is trying to accomplish, but also the reliability team behind the coin.
In the past, I have invested in some coins that when I had read what are trying to accomplish were looking really great and promising. Then the team made announcement that some great news will come in the future and then the price of course climbed up. After that sometimes that great news was utter disappointment or there was no news at all, just some excuses from the team, more empty promises and then nothing, silence. Therefore, those teams just pumped the coin to make some money then they disappeared. Probaby to some tropical island :)
What I am doing differently today is that I always check the background of the team. Then I check how active they are, in which way and how often they communicate with investors, did they make some empty promises in the past etc. Mostly if something is looking too good to be true that is because it is not true.
Still when someone these days, after all years since I started to invest in crypto asks me about the advice in which coin to invest I do not like to give advices, because I learned that crypto can be really unpredictable.
Nevertheless, there is still one coin that I think is trustworthy, has great potential and great team behind it. It is DNotes coin. I have been tracking the progress of DNotes for some time now. Looking at what the team is trying to achieve, how responsive and reliable they are, and I firmly believe that this coin has a great future ahead of it. You can read more on their web page https://dnotescoin.com/. I strongly recommend going through whitepaper, because it is interesting reading which will give you much more clue and information. One more think that I like about them, is that they did not choose ICO for funding, but instead they choose harder path, more in line with current legislation, which will give them great advantage in the future, considering that ICO’s are getting more and more regulated.
For now the trading volume of this coin is still very low, but do not get distracted by it, the reason behind it is that at the moment they are not on many exchanges, but on May 2018 they are getting listed on Cryptopia and later on I’m sure more exchanges will follow. The team is working on the coin since 2014, and in this month (April 2018) they released version 2.0. I could tell you many more things about it, but all of it is better explained in their whitepaper :) They are also very active on Twitter and Bitcointalk thread about the DNotes coin: https://bitcointalk.org/index.php?topic=1924858.0
In addition, one final advice for the end: never just blindly trust the advices you find on the internet about coins . Even this one :)) Do your homework, invest some time and get as much information as you can about the team and the coin in which you are investing your money. Just investing, without doing research is not investing…it is just gambling :)