[Opinion: Debunking Myths] Is It Too Late to Enter the Crypto World?

Have you ever considered changing careers or starting your own business? There’s always someone saying, “It’s too late”, “There are already too many businesses like the one you want to start”, or “Too many people are doing what you want to do”. The same thing happens in the crypto world. I’ve lost count of how many times I’ve heard friends or acquaintances say they want to invest in digital assets, only for someone to comment, “That train has already left”. Today, we’re going to debunk the idea that just because Bitcoin and Ethereum—two examples—are now much more valuable than they were a few years ago, they’re out of reach for the middle class and can’t generate profits anymore.

It all comes down to one key point: if you’re middle class—working hard every day just to cover your expenses with little room to save—cryptocurrencies should be viewed as a long-term investment, not a quick fix. This might seem obvious, but you’d be surprised how many people get swept up in the hype when crypto prices are rising. Without the right knowledge, some even take on debt to buy in, only to panic and sell when prices start to fall.

Right now, Bitcoin (BTC) is trading at $58,008 and Ethereum (ETH) at $2,470, according to CoinMarketCap—both much higher than they were a year ago. For context, on September 21, 2023, Bitcoin was priced at $26,564 and Ethereum at $1,593. That means BTC has surged 118.37% and ETH has climbed 55.05% in just over a year. You might be thinking, “If I missed those gains, is it still worth investing?” You should consider investing a bit whenever you can, especially when prices dip. Use a digital wallet, and try not to worry too much about short-term price swings. For more tips, check out this post.

Take Solana (SOL) as another example: it’s currently trading at $134.14, while it was around $23.84 a year ago. This isn’t a suggestion to invest in SOL specifically, but a reminder that it’s never too late to start investing. Once you understand this, your success will come down to your skills and knowledge.

Cryptocurrencies are highly volatile, and Bitcoin often influences altcoins. It’s crucial to understand the basics of this market. If you have the resources and are willing to take risks, you can make bold decisions. However, if your budget is tight and you can’t afford large investments, it’s wise to proceed with caution… Learn at your own pace.

As someone from Venezuela, I’ve seen firsthand what happens when people don’t make well-informed decisions. During the hyperinflation crisis, people had to act quickly to protect what little they had left. Many discovered the crypto world and started educating themselves, but others saw it as a quick way to get rich. I remember the buzz around Axie Infinity a few years ago. While some people earned significant amounts from the game, I also saw others who, lacking proper information, sold off valuable assets to dive fully into it. Such drastic moves are a leap into the unknown.

WARNING: This post doesn’t endorse or recommend any specific investment. It’s important to realize that learning about crypto can take years, and in some countries, crypto investments are not regulated.

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