Recently I've been speaking a lot about how far the cryptocurrency market has come – and the fact that the market cap keeps rising and rising. It seems for the year there's been nothing but good news, with many recently predicting cryptocurrencies imminent emergences into the mainstream.

On Sunday, January 17th 2021, cryptocurrency's marketcap exceed $1.1 trillion, and in the past week, more than $120 billion has been wiped off the marketcap. I don't think it matters in the long-term if you are a believer of cryptocurrency? However, this should be considered a warning that crypto is risky and volatile and would like to focus on some 2021-ready tips for the newbie crypto investor in current times.

Tips for crypto newbies in 2021

Begin with the technical terms

Blockchain, mining, encryption – it's a confusing world out there unless you've got a basic grasp on the key terms. Thankfully this resource from pCloud provides an extensive rundown of the ten cryptocurrency terms you need to know when setting out (in relatively plain English!). And don't worry if you feel overwhelmed at first – stay with it and you'll soon find yourself getting to grips with the words that matter.

Engage in forums and communities

There are plenty of buzzing communities out there to get involved in – and when Google lacks any concert answer for your cryptocurrency questions, you'll have others you can turn to, e.g. leofinance, and publish0x.

Stay up to date with all that's happening in the market

Keep your eyes open and your ears to the ground – follow crypto experts, sign up to newsletters from trusted cryptocurrency blogs and regularly look for fresh opinions and industry voices who seem to be right more often than not.

And don't just track news on the currencies you're invested in or considering – some of the largest currencies have overall sway on many others (with the comparatively smaller coins being sometimes impacted by massive rises or falls in currencies such as Bitcoin and Ethereum).

And finally – above all else… never, ever invest more than you can comfortably afford to lose

This piece of advice applies to all areas of investment – whether ploughing some savings into bricks and mortar or investing in crypto. You should only ever invest amounts that you could survive without. There will always be risks – you need to protect yourself against them come what may.

What are other newbie crypto-friendly tips you have for 2021?

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Thank you for reading and hope you have a good rest of the day!

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