New to Bitcoin? It is Time to Self-Educate and Lose Your Ignorance

New to Bitcoin? Karol Lucero Venegas, a Chilean cryptocurrency influencer, says those who remain skeptical of Bitcoin need to educate themselves. And fast.

One of the most searched words that causes the most curiosity in the digital financial world is undoubtedly “Bitcoin”.

It is a cryptocurrency presented to the world in 2008 by Satoshi Nakamoto, a pseudonym used by its creator (or creators) to maintain the anonymity and decentralization of this asset.

In my networks like Instagram and Twitter, my followers always ask me: is it real? Can profits be made? Can anyone invest in it? Is it a scam? It is unfortunate not to be able to respond to all the followers as I would like. However, in this space, I have the opportunity to reach many people, who are restless and in search of information to demystify some points.

New to Bitcoin: The discrediting of ignorance

Bitcoin is NOT a company from which dividends are obtained. It is just one more currency, like the euro, the dollar or any fiat money circulating in the world. The difference is that it is digital, deflationary, and is not created by a particular central bank.

A common phrase is, “I don’t have more than 40 thousand dollars to buy a bitcoin.” It is NOT necessary to invest in large amounts, especially the first time. A bitcoin is divided into 100 million parts, that is, we can fractionate it until we get 0.00000001 of each unit. That minimum unit is called Satoshi; then you could buy as little as $10 worth, for example.

So why do so many people believe bitcoin is a scam? The answer is even simpler. Ignorance and lack of knowledge about something always takes refuge in discredit. Just ignoring something gives freedom to people to fall into prejudices. However, these prejudices are used by the unscrupulous, who take advantage of that ignorance to try to deceive users. This is inherent to being human, unfortunately.

Education as a weapon against crypto scams

Since the time of barter, people have tried to make a profit that does not correspond to the offering. But currently, the largest number of scams in the world are still carried out in dollars. That does not mean that the American currency is a fraud. It is the individuals who use these assets to benefit from scams that are criminal, not the asset.

That is why my first recommendation before investing, is to inform yourself. Self-educate and look for reliable background information. You need an adequate grounding in what you intend to do. You need to know the volatility and risks of the market in which you want to venture.

I have undertaken mentoring and advice to people and groups interested in learning, but this was only after years of studying cryptocurrencies. I did my studies at the University of Michigan. My most recent qualification was a diploma called “Blockchain in Business” taught by the faculty of economics at the University of Chile. My advice before investing in any asset is to invest in oneself. Knowledge is power.

New to Bitcoin: The first step

I would like to recommend a book called “The Bitcoin Standard” by Saifedean Ammous.

This is one of the most complete books for a novice in the field. It will help you understand the evolution of money in the lives of human beings and the projections for the coming decades. Bitcoin is an economic alternative. It is decentralized, it protects you from inflation, does not see gender, nationality, social status, race, ethnicity, or religion. And, Bitcoin does not discriminate… Bitcoin is for everyone.