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Thursday

22 April 2021

An Open Letter To New Bitcoiners

An Open Letter To New Bitcoiners


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Although the journey into Bitcoin can be daunting, newcomers can have an easier time by adjusting their mindset!

Bitcoin may take some time to fulfill that role at scale.

The purpose of using a piggy bank is to accumulate small amounts of savings that may develop into a significant balance over time.

Not only will the balance of your bitcoin holdings grow, but over time, Bitcoin should appreciate against whatever currency you currently use.

Now that we have established that Bitcoin is great for saving, but not yet great for spending (in most cases), we can now set a goal.

By the time we’re ready to spend bitcoin, we want to own the most bitcoin we can.

The decisions you make about how to acquire and store your bitcoin can impact how much you ultimately end up with.

Bitcoin’s price tends to move sharply, either upward or downward, causing the perception that bitcoin is either “cheap” or “expensive” at any given time.

As time passes, both your bitcoin balance and your Bitcoin education grow together.

By the time you acquire a significant balance, you will be able to make good decisions about bitcoin storage yourself with confidence.

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