Ivan Pacheco Shares 3 Crucial Insights Everybody Must Know before Trading in Cryptocurrencies
Trading in cryptocurrency is on the rise. Despite the fact that it is decentralized, making it somewhat volatile and groundbreaking, pushing the assumptions we have about economies in the future, cryptocurrency offers immense benefits from confidentiality to eliminating structures that disenfranchise various social groups.
It seems that everyone wants to get their hands on crypto, but it takes a bit of knowledge to step into the game. Crypto expert and entrepreneur Ivan Pacheco share the three crucial insights everyone must be aware of.
Ivan is a serial entrepreneur who has not only created DCX Academy, which has become one of the largest crypto education platforms on the planet, but also . For him, getting into cryptocurrency was the next logical step.
“I started from nothing, so I know what it’s like to be held down by the system,” explains Ivan. “Crypto represents the future. It has the power to challenge our social structures.”
- Cryptocurrencies are not insured by the government.
“Unlike your regular bank deposits, cryptocurrency is not backed or insured by any government,” explains Ivan. “This means it isn’t protected, so if a company you store your money with is hacked or goes down, you might not be able to get it back. The government can’t step in, unlike traditional banks.”
- Cryptocurrency payments are not reversible.
“If you need a refund, it doesn’t necessarily mean that refund will be in crypto,” states Ivan. “It’s important to understand how a seller handles refunds because cryptocurrency is constantly changing in value, and they are not required to refund you in crypto.
Also, unlike a credit or debit card, these payments cannot be disputed.” Ivan stresses it is essential to work with reputable sellers.
- There are no guarantees.
“Just like any other type of investment, there are no guarantees you will make money. Never work with someone who claims a guaranteed return or profit.
They are most likely a scammer,” states Ivan. “There is so much hype around crypto, and too many people are making irresponsible claims, taking advantage of others just to get rich.”
Ivan maintains that crypto is a fantastic investment. It’s just crucial to be aware and smart regarding who you are investing with, what you are investing in, and who you are working with.
With increased confidentiality, no middlemen, and easier exchanges, there is no doubt cryptocurrency represents the future, and Ivan advises beginners to take it one step at a time.
