Article by Bernard Collin, CEO of SafeComs Network Security Consulting Co., Ltd. in the magazine “EXPAT LIFE in Thailand” about the trading with cryptocurrencies 101
Is investing in Crypto any different from share trading?
At first, I would say no, it is quite similar, and tools and strategies are the same. There are a few serious differences though quite easy to grasp.
First when you trade in crypto, opening an account on an exchange is very easy, go online, 10 min and you are all set.
For some exchanges, you can even fund your first coins with your credit card. There is a cost incurred for paying with a credit card that is high but getting into an exchange with FIAT currency is not a simple process.
The second important point is that depending on your choice of exchange, you can trade with very little money and the cost of buying and selling is extremely low compared with trading with shares. So you can learn your way around and lose very little if you change your mind.
The third one is that the tools available today to assist with your investment are very reliable, very understandable, easy to access and most of the time free. The best ones I found were totally free, and the paying ones can occasionally turn to be dangerous schemes.
Also, today with the popularity of YouTube, you can learn so much in a very short time and it is not that difficult if you have a bit of time on your hand to have a go at "home trading". With a bit of flair, a lot of research, a dose of patience, and a glass (or two) of good wine, you are all set to start venturing on the internet with a good chance of picking a few good buys
What are the risks?
Well, the best advice is that you are not a professional, you should assume that there is a strong possibility that you will lose your initial investment, so rule number one, do not invest money that you cannot afford to lose without impacting your lifestyle. Consider this investment "play money" while you are learning the arcane subtleties of online crypto trading.