Dear reader, let me greet you on my very first blog for crypto buyers. Firstly, let me introduce myself. Or not. As you can enter the world of crypto currencies almost completely anonymously and without exposing the most vital personal information, let’s do it exactly that way and expose only some minor information. My name is Kyril, just Kyril, and I currently live in Europe. When I started with crypto currencies, I figured I should have a proper nickname, my friends told me not to complicate it and just use the word “Crypto” with my name, so CryptoKyril (or “CK” in short) was born. It sounded good, I liked it, so I have been using it ever since.
And here comes my very first advice to YOU. Crypto world is a dangerous place with many hackers, crackers, thieves and the most ruthless computer amateurs, enthusiasts and professionals. Remember, what can be stolen, will be stolen or someone will attempt to steal it. So protect yourself – your computer, smartphone, bank card, IDs – as much as you can! Do not just stride in waving your personal ID in front of everyone’s face just because it is very convenient.
Before I continue, I will give you a chance to skip my story – use the link to continue to FAQ. I know many people do not really like reading too much (but I really like writing too much). If you still want to continue, skip the link.
You are still here? Well, you have been warned.
Some people may ask what this thing on the LEFT (or ABOVE if you are using a mobile screen) is. It is something I call KyrilCoin (oh, good old humble me). This is no ICO, no cryptocurrency, it is a graphic! Perhaps one day I will be a part of a KyrilCoin cryptocurrency project – but not now. KyrilCoin is a logo of this Crypto Buyer’s Guide website and it bears the letter “K” because it is the first letter of the author’s name “Kyril”.
Ok, back to me. So, what do I do? Without giving away too much information, I will just mention two things. Yes, I have a daily job that pays the bills (but that is about all it pays). The other thing, my hobbies include (among other things) 3D modelling and a bit of 2D art.
Why would I mention my hobbies? Because these hobbies are the main reason why I got into crypto. I always wanted to make a computer game, that was basically my dream! In fact, originally, this blog was supposed to be about the game. I got a team together but soon found out that this is a very expensive hobby and, without capital, your dream can take a few years or even tens of years to make. My job would never pay enough to realize my dream and leaving my job, to work only on the game, was also not an option – if you have a family, you cannot just leave your only source of income. I started looking for a different mean to gain money and FAST!
Not so long ago – around the beginning of 2017 – I was absolutely and completely ignoring the crypto world. I thought this technology is doomed from the start. Damn, a virtual currency? Give me a break, that can never stick! I just did not believe someone would want to buy something non-existant, let alone spend billions on it. And if someone did get involved and profited, it is probably some big-ass whale investor and no nameless individual (like me) has a chance on the ever growing digital market.
When you go over the everyday news that talk about cryptocurrency and Bitcoin in particular, you may hear words like “bubble going to burst”, “trash”, “non-sustainable”, “non-existant”. But now, as the price reaches higher every day, these unbelievers just stare blindly (and even the believers do, because SO MUCH MONEY!). I remember so many people (even my family members) telling me that no one would ever be able to actually pay for something useful with Bitcoin, because no vendor accepts Bitcoin and you cannot trade Bitcoin for actual fiat (real-life currency like US Dollar or Euro) money. For some time, I accepted that as the hard truth. That was WRONG! Today’s exchanges allow you to trade in Bitcoin, exchange it for money and withdraw it with a few single clicks.
So, guess what? What the non-believers told me was absolutely utter rubbish (it is not their fault, it is mine), I was an idiot and made the biggest mistake of my life not to start sooner. BUT, after a few weeks of psychological self-torture, I learnt from that mistake and decided not to lose time anymore and quickly hopped on that running train.
So, what did I really start with? I tried a bit of mining, the risk-free way to get Bitcoin, but turned it off quite soon. So my profits out of it are really not worth mentioning. I turned to trading, I never traded before, so as risky as it sounded, I started with “just” 200 Euro and deposited them to a Bitcoin exchange. Just three days later, I deposited another 300 Euro. And, as “real” money goes, that was it, my only investment. I traded and invested this money into newly appearing crypto currencies and Bitcoin, of course. I did not get any extreme profits, but slowly I started building my capital, one step at a time. Then I tried a few more risky trades and lost a lot. I took it as a lesson. After some time, when another risky trading opportunities occured, I turned them down and kept my distance. Now I know, if I made these risky trades, I would become very rich in a matter of days probably. But I did not, I was not prepared to make big risky decisions like that.
I think, the more I trade, the more I realize, I did the right thing. You do not have to risk a lot to gain a lot. You just have to research a lot, predict (not just blindly risk and bet) and the results will come.
Even though I gained capital now, I still do not invest any horrible amounts of money into crypto. And neither should you. Be smart and build it up. I chose to make this blog for everyone who would want to hop on that train too. And I will show you how!
If you are looking for a comprehensive guide that inludes an explanation of every term or by-the-book definitions, you will not find that here. I made this guide based on questions that I was already asked and things that were problematic for me when I started.
I am no financial advisor! I am not a professional trader! I am just a guy who got into crypto to realize his dream and I like it a lot. I am well aware of risks. On my journey, I earned money, but I also lost lots of money. I never broke down or stopped. If you want to try it too, you can read the information on this blog, take notes and go for it. It may hurt but it just as well may make you a MILLIONAIRE. It is your call!
So you read it all. Thank you! Let’s continue to the Crypto Buyer’s Guide’s FAQ.