Top 5 Resources for Bitcoin and Cryptocurrency Beginner Investors
We received the following question from reader Shawn via our Ask Us Anything feature:
Hey there! I was wondering what are some of the best resources you've found that have truly reliable information on news/developments in the crypto-world (websites, newsletters, etc). Also, which sites are good for analyzing performance trends of the various cryptocurrencies (charts, financial position info, etc)? I've also come across a lot of YouTube videos of people explaining their take on the performance and/or future of various coins - are any of them worth following? Thanks for your help!
For a beginner cryptocurrency investor, finding the right resources to track your current investments and identify potential new ones can be an overwhelming task. Being able to discern which sources to trust in the sea of online information is particularly challenging, yet it is crucial to your success as an investor.
Luckily for you, Coin Coaching has your back!
Here are five of our favorite resources for staying informed with cryptocurrency investing trends:
CoinMarketCap (coinmarketcap.com) is a must-use. Everyone investing in cryptocurrency will ask at some point: "Ok, so I have Bitcoin, what should my next investment be?" Bitcoin is just the tip of the iceberg. There are over 1000 different types of cryptocurrencies and crypto-assets.
CoinMarketCap groups all of them and ranks them by their “market capitalization.” It monitors the most relevant cryptocurrency exchanges and shows current prices, trading volumes, and gains/losses as a percentage for each cryptocurrency.
It is a simple, yet effective tool for surveying movements in the market, and identifying assets that you would like to learn more about.
As you might already know, Reddit is an immensely popular forum platform, organized into “subreddits” (sub-reddits) that are like interest groups for niche topics. Subreddits work really well to crowd-source and filter out noise from all the information available on the web because while anybody can post new information, the community votes on the quality of these posts, so you only the posts which people agree are the most interesting and relevant.
Some good places to start:
/r/bitcoin (general Bitcoin discussion)
/r/ethtrader (Ethereum and other cryptocurrency investing)
/r/BitcoinBeginners (topics for beginners to Bitcoin technology and investing)
Additionally, almost every coin out there has its own subreddit (r/litecoin, r/ethereum, etc), which can be a nice place to start researching new coins.
Youtube is home to lots of high quality information about cryptocurrency, especially if you prefer a more audio-visual way for absorbing new information.
Resources span a range of technical and non-technical explanations and analyses. A couple that we like are:
Boxmining (https://www.youtube.com/channel/UCxODjeUwZHk3p-7TU-IsDOA) (less technical)
Iva on Tech (https://www.youtube.com/user/LiljeqvistIvan) (more technical)
It’s up to you to find new videos to learn from. Just be sure to always use a mental filter and be aware that there are deceivers out there.
Steemit (www.steemit.com) is a revolutionary social news feed project that resembles Reddit in its voting system, but uses a blog format instead of a forum. It lets users submit articles and get rewarded by the community with the STEEM cryptocurrency, which is a blockchain project like Bitcoin.
It has some interesting categories for cryptocurrency investors that are worth checking out:
General cryptocurrency articles (https://steemit.com/trending/cryptocurrency)
Bitcoin-related articles (https://steemit.com/trending/bitcoin)
If you are more into the traditional way of reading news, then there are plenty of media outlets that cover cryptocurrency investing and trends. They are a great way to keep up-to-date on current events in the world of cryptocurrencies.
Some of our recommended resources:
DISCLAIMER: Cryptocurrencies like Bitcoin and Ethereum are highly volatile and risky. We cannot give you advice about what to invest in or how much to invest. You should take the information we provide in our courses and blog posts, do your own additional research on specific cryptocurrencies, and plan to decide what kind of investments work for you. We highly recommend talking to a financial advisor to understand the level of risk that you are comfortable with.
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3 Mistakes That Bankrupt Beginner
Investors In Bitcoin and Ethereum
Investors In Bitcoin and Ethereum
New investors to the cryptocurrency market make the same mistakes over and over... and over!
In this guide we share some important insights:
- The 3 most common mistakes beginners make, with solutions!
- A smart way to buy coins for the first time
- Why understanding security is so important
- Controlling emotions to be a smart investor