How to make $$$$ in crypto.

I’ve seen a lot of people enter crypto this year and make 5, 6, 7 figures.

NFTs, coding, DeFi, community management, marketing, whatever.

There are some common themes among those who have done really well.
Any focus can work.

NFTs are exciting right now but if you went deep on DeFi or gaming you’ve done super well too.

What’s important is that it’s an area you’re legitimately interested in, not just trying to Get Rich Quick.
It seems like a lot of people start off in the GRQ camp, lose a bunch of money, then either:

- Quit
- Take a step back and actually try to engage with the technology.

That was me!

And it’s when people actually pick an area to go deep on that things start working out.
Almost everyone who has a big win has months of joining discords, following people on twitter, and making some bad bets before it.

But the perception from the outside is you can just run in, buy a random NFT, and print money.

That’s rarely the case.
If you’re looking to get into crypto, don’t ask your crypto friend what to buy.

Join discords, figure out what topic you’re excited about, make some small bets, and really try to figure out what’s going on without focusing on a quick financial win.
There’ll still be stuff happening in a few months. Don’t get FOMO.

If you’re spending a few hours a day in communities your interests align with, you’re going to find great opportunities.

If you don’t wanna do that work, just buy ETH. Or find someone who can invest for you.
And assume that if you’re getting “alpha” from big twitter accounts, telegram broadcasts, or anywhere anyone could get it… you’re their exit liquidity.

Not always of course, but the more public the opportunity, the less good it usually is.
The great opportunities will show up in random Discord chats with friends you've made over the last few months of diving deep into the area you're fascinated with.

Those opportunities take time to foster.

Be patient, learn what's going on, add value, and you're gonna make it.

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More from @nateliason

24 Sep
If someone is curious to learn more about crypto, telling them to read the Bitcoin/Ethereum white paper isn’t a great recommendation.

It’s boring. They’re very unlikely to care about it.

Get them set up earning 7-10% on stablecoins. The technical curiosity will follow.
Three ways you can do this right now (disclaimer: I hold all of these platform's tokens):

SAFEST

1. Get USDC from Coinbase
2. Transfer to @MetaMask
3. Deposit in @AaveAave
4. You are now earning 6.26%. DAI interest is slightly higher if you prefer.
MORE INTERESTING

1. Get DAI from Coinbase
2. Transfer to @MetaMask
3. Deposit in @AlchemixFi
4. Borrow max alUSD (50%)
5. Convert alUSD to DAI on @CurveFinance
6. Back to Coinbase
7. Back to Fiat

Your original amount is earning 6.9%, but 50% is back in cash. Basically 14%.
Read 7 tweets
22 Sep
Not sure who I heard this from, but really the best way to frame financial goals is:

1. Never have to worry about money again
2. Make sure that once you achieve #1, you never have to achieve it again

It's helpful because...
Most people don't really want to "Be Rich," they want some part of the lifestyle they imagine rich people have.

Could be wild consumption, free time, no stress, whatever, but that's the thing you really want.

And you can probably have it for a lot less money than you think
e.g. I care way more about having control over my time than having a huge house or crazy cars.

I honestly would not take a 5m a year salary if it meant I had to be in meetings and on email all day.

So for me "not worrying about money" means...
Read 8 tweets
23 Aug
Should I do a one-afternoon live cohort of DeFi Orientation?

Basically for anyone who owns some crypto on Coinbase etc., but wants to learn how to put it to work in the broader crypto ecosystem.

Live walkthroughs where we can do everything together, ask questions, etc.
Okay, test driving this on Friday.

Just scroll down to the live version: learn.nateliason.com/p/defi-orienta…

If you're already in the Self-Paced course and wanna join, ping me in Discord for a coupon code :)
We already have 400+ students in the community so you get access to a great group of people learning this together too 🎉
Read 4 tweets
20 Aug
Been thinking a bit about what kind of new "employment" arrangements might exist in Web3.

Here's one I've been thinking about: Attention Bonds.
There are DAOs, startups, new protocols, etc. that need help but might not have the funds to hire people.

And there are people who want to work at these early companies, but need some degree of financial assurance.
Full-time employment might not be desirable for either / both parties.

And renegotiating every project is kinda annoying and a waste of time.

So: attention bonds.
Read 10 tweets
11 Aug
There's one course I took in High School that I still use daily, and that was arguably the most helpful class I ever took:

Research Methods.

Everyone should have to take a class like this.
It was basically a semester of reading scientific research papers and trying to parse them for the takeaways.

Was this a well-done study?
Are the conclusions valid?
How was it done?
What were the conflicts?
What're the caveats?
Did it replicate?
When you take a class like this you realize a few things:

1. Almost no one reports scientific research accurately.

If you're reading or watching the news talk about science you don't really have any idea what's going on because they have no idea what they're talking about.
Read 10 tweets
9 Aug
Wow sooooo this went way better than I could have predicted.

We launched last night, list price of $0.1.

After a few hours of insanity, it seems to have stabilized (for now) at $0.5.

And that's with us GIVING AWAY $2.5m worth of tokens to the early adopters 🤯
The big question we had going into it was how to guarantee the price didn't get jacked up by whales and bots, which would price out the community members.

So, we airdropped 5% of the total supply to people based on how many Raider NFTs they had.

That ended up being $2.5m.
It also meant that for anyone who bought a CryptoRaider character before the last week, your character more than paid for itself.

We were a little worried that everyone would get their tokens and dump on the market, but instead...
Read 5 tweets

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