Cryptocurrency

Something to think about; no FUD intended ....Some of the largest banking groups in Britain, plus, JP Morgan Chase, Bank of America, and others are opting to disallowing their customers to use their credit cards to buy crypto-currencies.
Now, this may not be entirely bad news...
There are stories of normal, everyday people having "FOMO" (fear of missing out) in the crypto market and then "loading up" on bitcoin when it was at an all time high.
Of course, then the market plummeted soon thereafter (as it does).
If people borrow funds that they "don’t have" it can create some stress and anxiety when desperate to get a return. In a sense, it's often gamble on a "hope and a prayer".
I doubt Crypto-currency trading was meant to be treated as an overnight success.
But, many people who are new to the crypto market have little knowledge of how the market and the blockchain function. Of course making some gains is great, but the underlying tools of the crypto market are the blockchain and it's technology, from what I see.
After all, there’s a reason why Warren Buffett invested in Coca-Cola and not Apple. It’s because he understood Coca-Cola and not but not the other.
The same rule applies to the crypto-currency trading. These crypto-currencies have a working product, a team, developers, founder, and a community that believe in the tokens. Therefore, traders and investors alike will put their capital into these tokens because they believe they will perform well.
You don’t have to invest much to get started in the "crypto space".
However, education and trading skills are far more important than investing in a random crypto and hoping that it goes up. That’s pretty much like going to Vegas and putting all your chips into one play on black in roulette.
It might work once, but the chances of working multiple times is improbable.
With the crypto market being so volatile, banks are making this move; as they see it, to protect their customers and mitigate risk.
Think about it...
When (eg.) bitcoin is dropping steeply and you had "little to nothing" in your account, but your credit card had a large available balance, you'd be well tempted to get in, right?
Even if bitcoin was to drop some more, your emotions might take over and get the best of you.
After all, people want what others have.
And since bitcoin is currently limited to 16 million in circulation, demand will increase in time and the price of bitcoin will jump. We have to take into consideration that about 5 million bitcoin will be lost forever and Satoshi Nakomoto has "1" of them "locked up" personally, so I'm given to understand.
The thing is,..Only play with funds that you have available.
Unless you’re a hedge fund with an outstanding record, that is; and even then, you shouldn't use "OPM" to play with. And, that takes time, patience, skill and a lot of credibility for people to give you their earnings and trust to trade in the crypto market.
Always remember; crypto-currencies are still fairly new (less than 10 years old) and they haven’t been accepted to be the mainstream yet. Probably not until at least 2020, maybe.
So, what’s the best way to acquire what is needed for crypto investing you may ask?
Watch your budget. If you budget right, you can put more into the market.
Also, they say, compound interest is the "7th wonder of the world". A little saving goes a long way.
Imagine that you stashed away the cost of a Starbucks coffee or two into bitcoin every month back in 2011. You'd be "loaded" by now!
Do your due diligence, avoid buying into the hype and learn to be patient. Crypto-currency investing is a "long term game".
Banks want to win also, and they want to make sure you can pay them back. That’s not to say that all banks are banning crypto purchases with their credit cards.
So, be careful out there.....