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5 things that should be known to each Bitcoin beginners

the Bitcoin tips for beginners: What you don't), you should (and what you need to know (for starters). FUD, FOMO, Hodln and the art to inform. By Phillip Ho

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5 things that should be known to each Bitcoin beginners
the Bitcoin tips for beginners: What you don't), you should (and what you need to know (for starters). FUD, FOMO, Hodln and the art to inform.

By Phillip Horch
16. February 2019BTC$3.629,73 currencies 1.02% Facebook Twitter LinkedIn xing mail

No idea of Crypto? It doesn't matter. The Following are some of the most important concepts when it comes to Bitcoin and other crypto-currencies.

warning: The following lines is neither a Search nor want to, and you can be in any way completely replace. There are only five concepts from the field of crypto-currencies, everyone should know, dealing with the topic.

FOMO – fear of missing something

Just when the prices explode as least the end of 2017–, people are nervous: "I Would have bought yesterday, I would have done instead, and make a profit". In the worst case, you end up buying any Token, without informing about it. The concept behind it is, FOMO stands for fear of missing out on something (Fear of Missing Out).

Our tip: take a Deep breath and inform.

FUD – fear, uncertainty and doubt

just As unhealthy as FOMO. Fear, uncertainty and doubt as to just when prices collapse suddenly. Then you think to yourself: Quickly, I need to sell before it gets worse. And then, when Negative headlines come, it is for many.

Our tip: see above.

HODL, HODL, HODL

The way out of FUD and FOMO: easy durchhodln. The idea behind it: Its Bitcoin easy in the wallet to keep (hold), rather than sell in a panic.

Read also: Why the crypto market is not dead. The view of a cryptographic VC behind the curtain of the bear market

analysis to look at Our tip: Better than FUD and FOMO, worse than in the topic to read and to make rational decisions. In case of doubt: make.

be careful with the Shitcoins!

Currently, Coinmarketcap lists a total of 2.072 crypto-currencies, which is a dark point uncertain. Sometimes you don't recognize the name, that there are serious projects. Or would you invest in Holly woodcoin, TrollCoin, or PonziCoin? Hopefully not.

Our tip: stay away.

Pump & Dump: In case of doubt, it can go very quickly

What is forbidden in the regulated financial accounting, is in the Bitcoin Ecosystem is not a Problem. The principle is that Some of the people arrange a specific time and date that you are stuck in a short time is very much money in a project (Pump). In order to drive up the price. Then you have to wait until the other's attention and sell your Token back, the price will fall (Dump). They rely primarily on FUD, FOMO and Shitcoins. Back a few that were able to enrich themselves, and very much more stay glued. Appointments are held in the messengers, mainly Telegram.

Our tip: stay away. Otherwise, that money is gone.

in the end, remains only one: be Informed. Thoroughly.

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