Learn Crypto!

How Crypto Assets are Bought and Sold ? 👉There are many ways that you can buy, sell, and store crypto assets. For instance, you can buy crypto assets directly (e.g. in a peer-to-peer or P2P manner), and you can hold them in digital wallets that you maintain sole access to. Digital wallets are encrypted with a password, and that may lead to a greater sense of security for investors; however, there have been instances where people have forgotten their passwords or deleted their wallets, and locked themselves out of accessing their invested dollars. As well, depending on how secure your wallet or your password is, there is the possibility that either can be hacked, and the hacker can gain access to the crypto-assets stored within. 👉Crypto assets are also available through trading platforms, Initial Coin Offerings (ICOs), Initial Token Offerings (ITOs), and investment funds. These are all described later in this article. 👉Many crypto assets and online trading platforms aren’t currently regulated, which means that the purchase, transfer, and sale of them falls outside the protections that securities regulators can provide. For example, because crypto assets can trade in a number of ways at all hours, it may be difficult to establish whether you are buying or selling crypto assets at a fair price. Regardless of how you choose to buy and hold crypto assets, keep in mind that it can be difficult to pull your money out. @CryptoNews_Lessons✅️

The rich also feel the pain: The problems of crypto billionaires Let’s discuss a crypto phenomenon today and understand why the path from crypto to fiat billionaire is not always straight. A crypto billionaire is someone who holds $1 billion worth of crypto. You’d think they just have to sell their tokens and become regular billionaires, right? But in reality, it’s not that simple. With such a desire, our billionaire will immediately face difficulties: 1. Market liquidity If you decide to sell all your crypto assets at once, it will almost certainly cause the price of your coin to drop. And because of this drop, you won’t get $1 billion. What’s more, if you’re holding a not-so-popular asset, there may simply not be enough liquidity in the market (and you’ll crash the price to zero). 2. Regulatory concerns Cryptocurrencies are not yet fully legalized in many countries, so turning them into fiat money can be difficult or even impossible. 3. Taxes When you sell your cryptocurrency, it is considered a taxable transaction in most countries. Depending on the country, taxes can eat up a pretty huge chunk of your assets—easily 15%, 20%, or 30%. Crypto billionaires aren’t exactly billionaires—at least not until mass crypto adoption happens, and they won’t be able to pay with crypto on par with fiat money. Let’s sympathize with these unfortunate people together😂 @CryptoNews_Lessons✅️

What do I do if I lose a seed phrase? It’s a common yet critical question. After losing a recovery phrase, people panic and don’t know what to do next. We can suggest two things: 1. Any noncustodial wallet you are authorized to use has a backup function: You can find it in the settings, and the wallet will show you the seed phrase. 2. If you don’t know where the piece of paper on which you wrote the seed phrase is, it’s best to withdraw all your crypto to a newly created wallet and keep those 12 sacred words more carefully from that moment on. If you’re sure it is destroyed (for example, it was eaten by your cat or mangled by your child), then it’s okay. Just restore it directly in your wallet and continue using this address. But if you’re logged out of your wallet and have no idea where you’ve placed your piece of paper, that’s when you have serious problems😬 @CryptoNews_Lessons✅️

Why do I need diversification? Asset diversification is an investment strategy in which you allocate your assets in various areas to minimize the risk of loss. If one of your coins in your portfolio starts to fall, your portfolio can remain stable (or even show profits) at the expense of other coins. In crypto, diversification is crucial. Since digital assets are extremely volatile, investing in just one coin can cause huge losses. Moreover, it is recommended to diversify even stablecoins—just in case one of them suddenly collapses—you don’t lose all your money. @CryptoNews_Lessons✅️

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