You have decided to explore the world crypto minded. You’ve probably heard about overnight millionaires. Perhaps, you are just curious. In either case, welcome to crypto jungle! It’s an exciting ride, with lots of twists. However, if you have a bit more savvy than the average person, then you can easily navigate this wild ride.

First, let’s discuss Bitcoin. Oh, that’s right. Bitcoin. Bitcoin is like the friend that invested in Apple Stock in 1997. Everyone wishes they were him. If you missed the boat, don’t worry. There are plenty of other fish in that sea.

Ethereum is a big player. Consider it Bitcoin’s cooler, younger brother that is more interested in smart contracts and decentralized (dApps) apps. Ethereum is more than a digital currency. It’s the entire Ethereum ecosystem. It’s the place where developers build innovative applications that could change everything, from banking to gaming.

But don’t rush! Do not throw away your hard-earned funds on these digital coins. The crypto market has the same level of volatility as a cat on coffee. Prices may skyrocket and then plunge the next day. It is important to research your options before making a decision.

In the context of homework, we’ll talk about research. Imagine you are in school and instead of studying for tests, you’re sifting through Reddit discussions and whitepapers. Familiarize yourself with terminology like blockchain, mining wallets and exchanges. Don’t worry, you won’t regret it when you aren’t confused by jargon.

You don’t have a leather wallet in your hand right now. Crypto wallets can be classified as either hot or cold. Hot wallets offer online access and are accessible at all times – they’re similar to checking account convenience, but come with a greater risk if hacked. Cold wallets – what’s the difference? They’re like burying hidden treasures in your yard without a need for a spade.

Your gateway drug to crypto is the exchange. I mean gateway platform! Binance, on the other hand, offers more advanced options for traders with more experience.

Security is important, as nobody wants their valuable coins to be stolen by cyber thieves! Don’t use password123. Use strong, unique passwords. Also, enable two-factor identification (2FA). Hardware wallets can also provide extra protection from hackers.

You shouldn’t be putting all your eggs in a single basket. Diversification does not mean just fancy finance terms; it means common sense wrapped in financial wisdom packaging. Spread your investments over different assets to make sure that even if the value of one falls, other assets may still go up!

Now let’s talk about another fearful topic: FUD and FOMO. These emotional rollercoasters have derailed many promising investor faster than a speeding train gone rogue…

You can see the clock running out of steam but never forget to DYOR, Do Your Own research before you jump into anything new especially volatile exciting Cryptos… And have fun during your journey.