The world of cryptocurrency can seem overwhelming even to people who have a solid understanding of the basics. A lot is happening right now, and you might want to talk with a cryptocurrency coach so you can keep up. If you're not sure whether hiring a crypto coach is right for you, you can look at these three signs you might need help.
Unfamiliarity with Financial Assets in General
A person who hasn't done much previous trading of other financial assets, such as stock or options, probably is going to have trouble following a lot of crypto talk. There are many buying and selling strategies, and it's going to be hard for you to adopt one if you've never done so before. A crypto coach for beginners can get you up to speed on how to read technical analysis charts and make sense of buying and selling opportunities within the market.
Unsure Where to Buy Crypto
If you don't know the lay of the land, a cryptocurrency coach for beginners can help. There are three basic ways to acquire crypto.
First, you can mine it using software and hardware for the purpose. A cryptocurrency coach won't encourage you to do this unless they're confident you have an expert-level understanding of computer hardware and software.
Second, you can purchase crypto using the blockchain. This is an open system that's arguably the defining feature of crypto. It is a ledger that tracks who has what without tying the transactions to a specific profile. The ledger is distributed so every crypto user has a tiny piece of it, thus preventing a central authority from controlling or stopping transactions.
Finally, you can purchase crypto through a broker. This isn't different from trading stocks. However, it is only ideal for speculators who want to buy and sell on swings. If you're looking to use crypto for personal or business transactions, you'll probably want to use the second method.
Confused by the Number of Coins
At any given time, there are tens of top-tier coins and thousand more less-tier ones on the market. Some have inflationary or deflationary structures, and others called stablecoins are meant to experience little inflation shift.
Parties are introducing new cryptocurrencies every week in initial coin offerings. The benefit of an ICO is you'll get in early, but not all cryptos will take off. A crypto coach can help you assess which coins work best for you. A business like Apex Consulting has more information.