If you want to try and get rich quick in #crypto then here are a few ideas.
Dog memes, this intensely over saturated market is an "investor" favorite. Everyone wants to repeat the success of Shiba Inu which went up 33,000% in a month. In reality 99.9% of investors will lose money chasing these dog coins. But everyone wants to be the exception.
Leverage trading. You can get 100x leverage turning your 1 BBTC into 100BTC trading power! Wow! Except many "traders" have little understanding of liquidation & funding mechanisms. 90% of traders lose 90% of their account in the first 90 days. Be careful!
Degen yield farming. Coingecko currently lists highest yield farm 2,611% APY! HOLY COW MAN!!!! Easy money, right? All you need to do is risk extreme impermanent loss, and dump your money into a farm which has no insurance coverage % high probability of rug pulling. Good times.
Algo stable coins keep popping up, every new one trying to recreate the same buzz and gains as the early iterations. the mechanics are often fiendish and while a few early people make money most watch their "stable" coin plummet in value as it death spirals into irrelevance.
NFTs are a hot hot trend, but 99% of them are total garbage which will retain 0 value in the long run. The 1% will make HUGE returns for speculators. Only buy NFTs you actually like and want to hold onto, then at least if they go to 0 you have something you like!
Put your money on black and spin the wheel.... oh wait that is gambling...
Long story short getting rich quick in crypto actually results in getting poor quick. There are exceptions, and you probably want to be one, but you probably won't be.

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More from @TheCryptoLark

21 Jun
If you want to get rich with #crypto with a higher degree of certainty then you need a longer time frame. Here are a few ideas.
Learn how to dollar cost average into fundamentally strong coins. If you had bought $100 of BTC every week since the 2017 peak until today you would be $80,000 in profit.
Understand the power of compounding. Coins like Ethereum, Polka Dot, and Cardano offer staking. This allows you to stack more coins using your existing coins. This can be HUGE!
Read 9 tweets
7 Jun
There are loads of great #crypto gems under a 50 million dollar market cap!
$bmi is an insurance play which is launching its V1 soon
$tvk is a cool NFT play working with some massive brands in the film space
Read 12 tweets
7 May
#altcoinseason 2021 is going to way way crazier than 2017! Here's why

1 - There are now multiple blockchains running smart contracts applications that actually have users. 2017 was basically all about #Ethereum
2 - There have never been so many fiat on ramps. Cashapp, Paypal, Robinhood, and all the crypto native exchanges. It has never been easier for retail to enter the market.
3 - So many working products. We have amazing #defi platforms like Aave, Uniswap, and Synthetix. And dozens of new comers.
Read 10 tweets
26 Feb
Here's why I am bullish on #ethereum!

Thread 👇
Ethereum has an incredible lead in terms of network effect. Deep liquidity. And the most developers by far. It will take years for a competitor to catch up. All the time eth will continue to grow.
Eip 1559 will introduce fee burning for #ethereum meaning it will likely become a deflationary coin
Read 14 tweets
26 Feb
Risk management is the biggest factor that will determine getting wealthy investing without getting lucky.
#bitcoin #ethereum #crypto
Take profits when you see massive market pumps happen. Broken record here, but even taking your initial capital back out can make a huge difference.
Keep position sizing according to risk. High risk altcoins, and ICOs should not be more than like 1 to 3% of your portfolio. The risk of loss is too high to go higher, but the upside potential is massive.
Read 10 tweets
8 Sep 20
Here;s my #crypto portfolio
#1 #bitcoin 22% ideal number is 50% of my portfolio, less now because other investments have gone up and I have not significantly rebalanced yet.

Lending about 40%, trading account about 20%, cold storage 40%.

Continually add more, long term hold
#2 $usdc 14%
This is almost all lent out. I use Blockfi, cryptodotcom, and Yearn for earning yield on my stablecoins. Not much extra after that though since I just invested in 2 token sales, and bought a little dip action.
#3 #ethereum 13.5%
I keep adding to this position and am very bullish on its future.
Lending most of it out via Blockfi, cryptodotcom, and Yearn Vaults and earning a nice bit of extra $eth as a result.
Read 23 tweets

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