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Interview: Why NOT investing in bitcoins could be dangerous?

Alexander Gaichka: My name is Alex, I represent the Binaryx platform. And today I’d like to ask you few questions about you and how did you get into crypto 🙂

Maybe you could tell our readers a few words about you and your crypto-journalist experience?

Yordan Lyanchev: Oh sure. Nice to talk to you, Alex. I’m Jordan, currently operating as a senior journalist in CryptoPotato.

My interest in the industry began in the middle of 2017, shortly before the parabolic price increases. I started investing small, at the time it wasn’t as easy as it is now to purchase cryptocurrencies. At the peak of 2017 high, I was shocked by the massive ROI, and instead of selling some of my profits, I doubled-down and even bought more BTC at about $16,000. Needless to say, most of it is in the red now.

Got pretty desperate in the bear market in 2018 so I decided to educate myself more and that’s when I got a few offers to write as a freelancer. A year later I was invited to write about CryptoPotato exclusively and the rest is history as they say.

Got pretty desperate in the bear market in 2018 so I decided to educate myself more

Alexander Gaichka: The bear market is cruel and merciless! 

Sorry to hear, my condolences on this! 

But I guess it was a tough, but still useful experience for you?

The CryptoPotato is an awesome news website! I really like the well-written and informative style of your articles and news! 

In this article: Market Watch: Bitcoin Tumbles to $10,130 as Equity Markets Finish in Deep Red

You’re describing and analyzing the situation on the beat race which happened again.

Perhaps I want to invest in Bitcoin. Could you tell me and our readers, please, what is the best time to purchase the bitcoin? 🙂

Is it still falling or it could be a real jump in the near future as many talks?

Yordan Lyanchev: That’s a great question, which I guess a lot of people who are inside the industry are being asked frequently. My answer has been the same since 2018 and it got emphasized this year – if you believe that the world is heading towards a more digitalized state where everything will be handled online if you believe that banks take too long and charge too much if you believe that fiat currencies are plummeting in value, and you want to find an answer – it’s just Bitcoin. Gold is useful, it works, it’s the most appropriate sound money we’ve had for thousands of years, but it’s not digital – you can’t send gold over the internet and the pandemic highlighted that.

Gold is useful, but it’s not digital – you can’t send gold over the internet and the pandemic highlighted that.

The timing doesn’t matter unless you are a day trader and want to make a quick profit. But if you are, you should aim at low cap alts, instead of BTC – you buy Bitcoin to protect yourself, to enhance your financial well-being, and to ease the transition towards online payment methods – dollar-cost average in and enjoy the ride. Don’t stress on sharp drops. Bitcoin always recovers.

Alexander Gaichka: I definitely agree with you! Since I get knew about bitcoin, it has grown in price many times.

You’ve mentioned the day trading and getting the profit at low cup altcoins.

I know that day trading could be very stressful for you, especially if you’re a beginner in trading or cryptocurrencies.

Could you give our readers a few tips on how can they avoid stress whilst gaining the profit?

Yordan Lyanchev: Not sure if I’m the right person to ask in this situation. I had little-to-no success day trading so I quit and focused on writing/educating myself, and simply HODLing.

Alexander Gaichka: Well, thank you! Then, as a professional journalist, can you name your favorite cryptocurrency news and forums that you follow?

Or any of the information portals about cryptocurrency that you like?

I basically follow all big sites – Coindesk, Cointelegraph, the Block, ZyCrypto, and more. I also like to read Reddit. I strongly believe that Reddit is a gold mine of fresh and informative messages about the crypto market

Yordan Lyanchev: As a journalist who has to be up-to-date with everything that happens, I basically follow all big sites – Coindesk, Cointelegraph, the Block, ZyCrypto, and more. I also like to read Reddit because there’s a lot of interesting insights there.

Alexander Gaichka: These websites are excellent news and information resources.

And of course Reddit, I strongly believe that this is a gold mine of fresh and informative messages about the crypto market.

We at Binaryx are launching our own trading terminal with the launch of the platform. And right now, we already have our own free academic courses about cryptocurrency on our website.

In your opinion, what information would beginner traders and crypto HODLers want to know next? Would you be interested in some sort of trading guidelines with examples or you’d rather look for useful documents and files which would ease or automate some tasks?

Yordan Lyanchev: To be honest, I see educational materials on most platforms, like Binance. I think people are not looking into that. In this day and age, free information is available almost everywhere so you have to make it somehow exclusive and offer something radical to attract the attention of the futures trader.

You shouldn’t invest more than you can afford to lose. However… not purchasing Bitcoin in today’s economy is dangerous!

Alexander Gaichka: I hope we’ll positively surprise people with the official launch of our platform.

Thank you much for the interview! 🙂 This was really nice and interesting talk!

Would you mind giving last advice to our readers who still afraid to invest in cryptocurrency or keeping away from buying their first bitcoin, but still have such a big interest in the crypto?

Yordan Lyanchev: The pleasure is mine! 

About the advice – I’ll do the regular stuff and say that you shouldn’t invest more than you can afford to lose. However… not purchasing Bitcoin in today’s economy is dangerous!

Alexander Gaichka: Thank you much, Yordan!

Have a nice day!