Fireside Chat: What I Would Tell A Friend New To Cryptos To Do Today

By Brian in Chicago on June 14, 2018 • ( 0 )

If you, dear reader, were a close friend of mine, and you’d never owned any cryptocurrencies or knew anything about them, but were interested in getting involved and you asked me what you should do, this is what I’d tell you.

Hey, ____________ [use your name]. So…you’re ready to get into cryptos, eh? Ok. Here’s three things you should absolutely do.

One: Go to my blog- at the top of the main page, there are page links that will take you to pages that have basic, baseline information and links to websites and youtube channels that will give a good basis to begin to build your knowledge base. From these resources, you’ll have a good springboard to branch out and seek knowledge from other sources.

Two: Open up a Coinbase account so you could start buying crypto currencies. Even an Abra account would work to get started, but for simplicity’s sake, I would just say to get started with Coinbase for the time being.

Three: If you have a computer, START MINING CRYPTOS. It doesn’t matter what kind of computer you have, START MINING CRYPTOS! If all you have is a laptop or an old computer, you can still start mining using something like Minergate. And if you have a computer with a graphics card at much as 3-4 years old, you can mine cryptos. The reason I say this is because mining is a way to earn cryptos that does not require you to spend time earning wages to acquire them. When you sleep, you’re earning. When you’re at work, they’re earning. When you’re sitting on the porch, they’re earning. [What is mining]

It is also important to start mining TODAY as a means of acquiring cryptos, because right now, TO-DAY, you would be getting into this before 97% of humanity does. If you need proof that the other 97% will be coming into this space, you only need read the implementation tracker on my blog as proof. You will be getting in before more bodies and more money will come in, greatly expanding the pool of people who want to own items that are limited resources (most cryptos have a limit on how many coins/tokens will be created, which equates to scarcity.)

As more people start to get into cryptos and start mining themselves, the difficulty that is applied to mining (how much computing power is needed to solve the algorithms used to confirm transactions on the network and earn block rewards “earning cryptos”,) will increase. When that happens, mining will require more powerful computing power to solve these transactions. In its early days, bitcoin mining could be done on a laptop. Now they require mining farms that use dedicated mining machines with the power of…easily a hundred or more laptops; because of this, the return of what you would earn would decrease. And to add to that, because the other 97% of humanity is getting into cryptos, there’s a pretty darn good chance that prices are going up, which means you’d be missing out on the price appreciation. By getting in NOW, you’d be essentially be getting yourself a ticket to the prime seats to show before a line forms out the door of the theater.

[By this logic of price appreciation, I could also suggest using crypto faucets as a means of acquiring cryptos. A $0.001 claim from a faucet in 2016 (about 200 satoshis- .00000200 bitcoin, would be worth $0.014 today. That’s a 14-times increase off of EACH CLAIM. If you had acquired $10 worth over several months, it would be worth $140 today. Not bad for a minimal amount of time investment.]

Four: The last thing I would recommend that you do is install an Exodus wallet on your computer to store your cryptos. IF YOU DON’T HOLD IT, YOU DON’T OWN IT. You need to have a wallet on your PC (or phone) that you can move cryptos to after you purchase them. Yes, even from your Coinbase account. Exchanges get hacked and there’s no need to expose yourself to the risk if you don’t have to.

There’s other digital wallets out there, but an Exodus wallet is the easiest option to start with until you get make you way into the deeper end of the pool.

These four things, my friend, are what I would recommend you do today if you wanted to get into cryptocurrencies.

Be well, Everyone.

Miscellaneous Notes and Tools

to get started with cryptos

Use the Brave browser and block unwanted ads and decide which websites YOU want to support! https://brave.com/tin140

Follow Tiny Crypto Blog on blockchain blogging platform Steemit

Follow Tiny Crypto Blog on Twitter @tinycryptoblog

Follow Tiny Crypto Blog on YouTube

And yes, I’m on Facebook

Looking to start purchasing cryptos? Open an account at Coinbase, and you’ll receive $10 in free bitcoin for your first purchase of $100 or more. Link HERE

Are you new to cryptos and want an easy way to mine them? I recommend Minergate as a good way to start out. More Info Here

Need a good, basic crypto wallet? Download the Exodus wallet

Earn free cryptos using crypto faucets

Bonus Bitcoin: earn between 30-150 bitcoin satoshis every 15 minutes. More Info Here

Moon bitcoin faucet: earn and mine free Bitcoin. More Info Here

Moon bitcoin cash faucet: earn and mine free Bitcoin Cash More Info Here
Moon litecoin faucet: earn and mine free Litecoin. More Info Here
Moon dogecoin faucet: earn and mine free Dogecoin. More Info Here

Moon dash faucet: earn and mine free Dash. More Info Here