SEATTLE, WA / ACCESSWIRE / February 7, 2020 / Ethereum came into the picture in 2015, but it gained little recognition due to the Bitcoin boom. Bitcoin had taken control of the digital world, and everyone craved to have a share in it.
To much amusement, almost half of the buyers had no idea about Bitcoin or blockchain in particular was. The blockchain revolution found itself suppressed under the Bitcoin buying spree. Blockchain was a solution to a lot of existing problems for people across the globe. Its use and practical implementation were limitless.
The "proof of work" used by Bitcoin had capped its supply at 21 Million and was limited to censored transactions. Even though it had changed the world for better, there was something amiss. Soon Ethereum rose to fill the void. Its main advantage over Bitcoin allowed individuals and companies to do much more than transfer money between entities.
The first wave of visionaries and techies to understand the value of Ethereum was scattered. Besart Hoxha was only 18 when his interest shifted to cryptocurrency.
Besart started hearing about cryptocurrencies in early 2011. He struggled to experiment with Bitcoin as he didn't have enough information about this new technology.
He readily kept reading about the blockchain, its quantified innovation, and how they work.
In the coming years, Besart came to know about Ethereum on a BitcoinTalk forum post and how it proposed a more comprehensive crypto model.
Fueled by his sound vision of Ethereum, Besart took a loan from the bank and invested everything into Ethereum. He had to purchase Bitcoin and with that purchased Ethereum in the pre-sale.
He was one of the first to purchase Ethereum in the Pre-sale even though there was considerable risk involved in this new venture. Amid all the noise and commotion that Ethereum created, Besart Hoxha remained confident in his endeavor. In July 2015, Ethereum came to life, and everything started there.
"I was super excited; I kept reading anything related to Ethereum, wanted to learn more, after all, I was confident in it."
He was determined to hold as long as he could, and he did that. Besart Hoxha kept onto them for more than two years, and that wait and patience has paid off for him, he made millions when the rush came in late 2017.
Over the past years, Besart has gained extensive knowledge about cryptocurrencies with incredible insight into the market trends. On our humble request, he has imparted a part of his knowledge for the next generation of traders and investors.
He spoke on how beginners should treat cryptocurrency when they first step into the cryptocurrencies world.
Do your fair share of research -
Cryptocurrencies are a volatile market, and people who step into it need to have 360-degree knowledge. Investing in the market trend may drain out your budget if you plan on short term goals.
Thorough research into the cryptocurrency is the first step that you need to consider. If you know the cryptocurrency inside out as to what it does, where does it find its use, and what the future holds, you will be able to map your investment equally.
Start small and then go big
Never invest everything you have. Always begin small and diversify your approach. Gain experience through regular insights into the market and scale up your investment once you have a detailed knowledge of the crypto-trends.
Ignore the Noise
In the recent market revelation, we came to know about the Bulls and Bears. These powerful and multi-million investment entities control a large volume of the crypto world. Small and mid-level investors panic and rush to sell when these come into play. Most of the time, it's just noise and leads to bad decisions. Always be doubly sure before you invest or sell your stakes.
Always be patient
Good things take time. Even I had to wait for a few years to get good returns on my investment. Plan accordingly, and do not give up on predicted returns. Crypto world is a roller coaster ride, and only the patient will survive it.
Learn to control FOMO
The Fear Of Missing Out at most times turns to be a bad investment for most people. Never invest if you encounter rapid growth and may miss out on the increased price of the cryptocurrency. If you are already earning a profit, then wait for the price to drop. When the price is bottomed out, the rate of cryptocurrency will surely rise again.
SOURCE: Besart Hoxha
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