So basically what it boils down to is that old saying that's been around for a long time..."It takes money to make money". So if you currently have $1,000 in Bitcoin, and the price sky rocketed to $100,000 tomorrow, you would basically gain around a $5,000 to $10,000 profit. Not the awesome and miraculous vision you had is it?
This article sounds like a buzz kill so far doesn't it? Not to worry. I have become a full believer in crypto and it's potential. You should to. I truly believe that Bitcoin and crypto currency in general is the future. The future of currency, as well as daily life. There is absolutely nothing wrong with the $20 in Bitcoin you have, or $100 or $500. Owning any amount of Bitcoin or any other crypto is a smart decision and hardly ever a failure. I believe it's always a smart move and a step in the right direction. Will you become a millionaire over night? Most likely no. Will you be a step further in a world full of limitless potential? Absolutely.
I remember having $20 in Bitcoin, $100, $500. Noticing the price wasn't moving upwards too much, then noticing the price go down. Nervously my first thought would be crap! Sell! Sell! Whew...that was close...only a $9 loss in fees...that's not too bad I guess. For any beginner reading this, it's very normal to take losses in crypto when you're first starting out. Even veterans who have been doing this for years take losses. I wrote this article to try and save someone, anyone, the time and effort and also any loss ahead of time. Even if I helped just one person get a better idea of the crypto world I would find this article successful. Especially since I never wrote one in my life. Purchasing crypto and waiting only days or weeks for the price to jump up and immediately selling it is not going to make you rich. Make a profit? Absolutely that can happen. There's something called trading with margin or leverage that people use to gain a lot more profit though...or loss. Also something called HODL, which means "Hold on for dear life", in other words...invest in it and leave it be, and hopefully one day that patience will pay off. I'll explain more on that in Pt.2 of this piece though. The main thing I want to focus on with this is developing a sense that overnight wealth is more than likely not realistic.
Also please don't forget...I'm still a beginner myself, and have a whole lot to learn, but hopefully this helped at least one person get a better sense of the crypto world as they begin their journey. Have a great day and stay safe out there guys.
