Crypto Newbies: Expectation Vs. Reality.
@cryptofiresidepress shared a brief comparison of Crypto Newbie Expectations vs. Reality when entering the Crypto world.
Crypto prices are highly volatile (if you couldn’t already tell), and changes can significantly impact your portfolio. That’s why it’s vital to follow legitimate crypto news sources, and in general, sources of high-quality crypto information.
While the popularity and adoption of cryptocurrency continue to grow, the current bear market is forcing many people, new or old to become skeptical. And oddly enough, skepticism is exactly what is needed at this time.
In this post, we’ll look at some expectations from new cryptocurrency investors and traders and compare those to reality.
1- Expectation: Crypto Will Make Me Rich Overnight
Reality: Crypto is not a Get-Rich-Quick Scheme
2- Expectation: Trades Only in Bitcoin
Reality: Ton of Assets
3- Expectation: Cryptocurrency is Secure
Reality: Criminals Target Cryptocurrency
Hackers can and do frequently exploit backdoors and general security flaws to their advantage. Stealing funds or breaking into exchanges is not uncommon. Again, it all comes down to research. Ask yourself, has the wallet or exchange you plan to hold your crypto with been a target in the past, have they ever been compromised, or do they offer first-class security infrastructure?