CoinDesk: Leading the crypto investors of the future
Many people rely on CoinDesk for their daily cryptocurrency news. It knows that the public still has a hard time understanding digital assets. That’s why it informs the world about how cryptos are changing the global financial system.
We’ll start by discussing CoinDesk’s objectives and history. It’s an important website for wannabe investors, but it’s not enough. Later, we’ll go through the other resources and tools that you need to understand cryptos.
The pandemic isn’t the only thing that changed the world. However, it gave us time to learn more about cryptocurrency, and it’s changing the financial world. Put that time to good use by checking CoinDesk and other crypto news outlets.
What is CoinDesk?
Bitcoin launched in 2009, but most people didn’t see its potential. After all, the idea of “internet money” was a bit weird back then. Some people paid closer attention, though.
That’s why CoinDesk started to inform the world about cryptocurrency. It launched in May 2013. CoinDesk shows the changes that digital assets bring to the field of finance.
What’s more, it created the first price reference rate for cryptos. CoinDesk started the Bitcoin Price Index in the same year. Now, it’s widely used by major news outlets.
Moreover, it hosts a digital currency group conference every May. The Consensus summit lets investors from around the world meet and discuss cryptocurrencies.
You can go to CoinDesk for free. Choose from a wide selection of topics. Click “Latest” for up-to-date reports on recent crypto events. Explore the other sections too.
Why is CoinDesk important for first-time investors?
You may have been curious about cryptos lately. More current events have been related to these digital assets. If you pay attention, you might notice how often the prices move.
Numerous factors affect the worth of cryptocurrencies. Any of them can sway the market. Unfortunately, if you want to understand them, you’ll have to track them for some time.
This means reading sources like CoinDesk. Monitoring the events for a few months will help you make sense of the movements. It’s not enough, but it’s a start.
Meanwhile, the “Opinions” section provides unique points of view about crypto. Different perspectives can teach you more approaches to investing.
You’ll need all the information you can find about cryptos. This will help you make smart investment decisions. And CoinDesk is always there to deliver!
Is CoinDesk enough?
Despite how helpful it is, CoinDesk alone won’t make you a good investor. You need to expand your sources of crypto knowledge. This means looking in other news outlets too.
You don’t have to look far, though. The Inquirer USA lets you browse the latest cryptocurrency news as well. Also, it offers more crypto articles like this one.
If you need investment strategies, you’ll find them there. Have you ever heard of HODL? Find out what it means and why many investors swear by this method!
What’s more, some articles tackle some of the trending coins. Learn how they work and compare them to one another. Even better, check them for new investment options!
Other ways to understand cryptocurrency
Don’t depend on just news websites, either. You need to be wary of the factors that affect cryptos. They are divided into two types: fundamental analysis and technical analysis.
If you invest in stocks, you know them already. They don’t work the same way with cryptos, though. For instance, stock investors use FA to determine the intrinsic value of companies.
On the other hand, crypto investors check for different fundamentals. Specifically, they look at factors that people can’t game easily. These metrics are on-chain, project, and financial.
As the name suggests, you can see on-chain metrics on the blockchain. Look at certain factors within the network. Here are some examples:
- Transaction count – How many exchanges happen in the network?
- Transaction value – How much crypto is traded in the transactions?
- Fees – How much do people pay when using certain crypto? For example, Ethereum charges gas fees for every transaction.
Project metrics look outside the numbers. It involves the founders of certain crypto and their original plans. Read more about them below:
- Whitepaper – It’s the document that explains the goals of a crypto coin. You may get bored of reading it, but you should. Never invest in something you don’t understand!
- The team – Make sure competent people made your crypto. See if they got into shady projects back then.
- Other cryptos – Some cryptos have similar uses. If those are doing better than your coins, it might be time to ditch them.
Last, look at the financial metrics. These are the characteristics related to the incentives and economics of a crypto coin. Here are some of those factors:
- Market capitalization – Also known as market cap, it’s the number of cryptos in circulation multiplied by the current price.
- Liquidity – It tells you how easily you can buy or sell a certain coin.
- Other supply metrics – These include inflation, maximum supply, and others.
TA looks at short-term price movements. Technical analysis assumes they follow patterns that you can follow over time. Thus, traders rely on it to track price changes.
Once their coin moves to a certain point, they sell for a quick profit. This also helps when trading crypto futures. Long buy when prices rise, short sell when they fall. Either way, traders win!
You still need TA even if you’re just investing. This lets you get more out of crypto news reports. Also, they could tell you when to buy or sell a particular coin.
CoinDesk is a great way to start investing in crypto. First, it provides the latest news and opinions about digital assets. Now, more people are learning how they work.
If you want to test what you learned, apply them. All the articles in the world won’t help if you don’t. Go to Binance or other platforms to buy your first coins. It’s so easy to make an account!
Use what you’ve read to choose the right cryptos. See how they perform in the coming months. Then, check the metrics to figure out when to HODL or sell.
Learn more about CoinDesk
Is CoinDesk reliable?
The online news outlet has been going strong since 2013. You can trust CoinDesk for valuable crypto reports.
What is the goal of CoinDesk?
It wants the world to know about cryptocurrencies. What’s more, CoinDesk aims to lead the next generation of crypto investors.
Are there other sources of crypto news?
CoinDesk isn’t the only one that reports on crypto. A quick Google search can show you thousands of other websites. Even better, browse Inquirer USA for more crypto updates.
Disclaimer: This article is the author’s personal opinion, which may differ from the “official” statements or facts. All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by Inquirer.net constitutes an investment recommendation, nor should any data or content published by Inquirer.net be relied upon for any investment activities.
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