Making money in crypto is not difficult.
You just have to respect these 7 rules.
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You just have to respect these 7 rules.
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1. Understand the future narratives.
Knowing what the future holds and where technology is moving allows you to invest with a thesis.
It allows you to invest not because a random dude you talked to at the gym told you to, but because you 'see' the future.
Narratives to watch:
Knowing what the future holds and where technology is moving allows you to invest with a thesis.
It allows you to invest not because a random dude you talked to at the gym told you to, but because you 'see' the future.
Narratives to watch:
DeFi:
The traditional system is dealing with hyperinflation, money printing, and overall corruption.
More people are seeing the benefits of Decentralized Finance technology every single day.
Why put your money in a bank for 0.02% when you can make 20% in DeFi?
The traditional system is dealing with hyperinflation, money printing, and overall corruption.
More people are seeing the benefits of Decentralized Finance technology every single day.
Why put your money in a bank for 0.02% when you can make 20% in DeFi?
Metaverse:
Between 2010 and 2021 the # of activities transferred over from offline to online has skyrocketed.
This will only keep going up this decade.
To a point where the vast majority of life takes place in the metaverse.
Those who invest in metaverse tech today WIN.
Between 2010 and 2021 the # of activities transferred over from offline to online has skyrocketed.
This will only keep going up this decade.
To a point where the vast majority of life takes place in the metaverse.
Those who invest in metaverse tech today WIN.
Bitcoin as the primary store of value:
As the dollar continues to do what ALL fiat currencies have ever done (return to zero), the obvious mathematical, technological and physical superiority of bitcoin will become evident.
Wake me up for a $1 million dollar bitcoin.
As the dollar continues to do what ALL fiat currencies have ever done (return to zero), the obvious mathematical, technological and physical superiority of bitcoin will become evident.
Wake me up for a $1 million dollar bitcoin.
2. Do Your Own Research
Listen. I was a newbie myself.
I saw random people on Twitter promote (aka 'shill') a coin or a project and I would make the mistake of automatically buying.
Your lack of expertise and understanding makes it easy for you to fall for this.
Listen. I was a newbie myself.
I saw random people on Twitter promote (aka 'shill') a coin or a project and I would make the mistake of automatically buying.
Your lack of expertise and understanding makes it easy for you to fall for this.
Youtubers, Twitter influencers, all have incentives to pump their bags.
They will pump the coin and then dump it on your head. You'll be left with their bags because THEY will have sold off right when you're buying in.
Here's what you do instead:
They will pump the coin and then dump it on your head. You'll be left with their bags because THEY will have sold off right when you're buying in.
Here's what you do instead:
a. You buy a course to teach you HOW to do your own research.
b. You consume FREE content until things start making sense.
c. Hold on to your cash.
d. Find someone that's in your corner for real.
b. You consume FREE content until things start making sense.
c. Hold on to your cash.
d. Find someone that's in your corner for real.
3. Buy red, sell green.
If you're new to crypto you WILL be tempted to buy in when a coin has suddenly gone up 20% (aka green charts).
Everyone on social media is flaunting their profits and you want to FOMO in.
Do not. Accept that you missed this one.
Why?
If you're new to crypto you WILL be tempted to buy in when a coin has suddenly gone up 20% (aka green charts).
Everyone on social media is flaunting their profits and you want to FOMO in.
Do not. Accept that you missed this one.
Why?
I want you to wait till the market pulls back 10-20%, when everyone is panicking and selling off their holdings (aka red charts).
THAT is when you pick up coins you like, at a discount.
Markets always get overheated and you'll see pullbacks at least once a month.
Patience!
THAT is when you pick up coins you like, at a discount.
Markets always get overheated and you'll see pullbacks at least once a month.
Patience!
4. Avoid Getting Scammed.
That lack of understanding makes you a target for scammers.
Ask a question in a public telegram or discord group, these scammers will DM you and pretend to be 'helping' you.
Here's a ground-rule while you're in this 'startup' stage of your journey:
That lack of understanding makes you a target for scammers.
Ask a question in a public telegram or discord group, these scammers will DM you and pretend to be 'helping' you.
Here's a ground-rule while you're in this 'startup' stage of your journey:
Do NOT accept DMs on telegram or discord from anyone.
No moderator or legit person will contact you and ask you for you wallet address etc. Ever.
Do NOT click links you are unsure of.
Again: get someone you can trust to be in your corner and double-check for you.
No moderator or legit person will contact you and ask you for you wallet address etc. Ever.
Do NOT click links you are unsure of.
Again: get someone you can trust to be in your corner and double-check for you.
5. Balance Your Portfolio.
The makeup of your portfolio will depend on:
- Your age
- Your risk tolerance
- Your financial situation
If I was 19 today and working, I'd go heavy on the high-risk plays.
But unfortunately, I am not.
The makeup of your portfolio will depend on:
- Your age
- Your risk tolerance
- Your financial situation
If I was 19 today and working, I'd go heavy on the high-risk plays.
But unfortunately, I am not.
Newcomers to crypto are best off playing it SAFE.
I don't want you to worry about doing a 5x or 10x right now.
TOO dangerous.
I just want you to get exposure to crypto.
Let's do 50% Bitcoin and 50% Ethereum.
Or 75%/25%.
Again, just to get you started.
I don't want you to worry about doing a 5x or 10x right now.
TOO dangerous.
I just want you to get exposure to crypto.
Let's do 50% Bitcoin and 50% Ethereum.
Or 75%/25%.
Again, just to get you started.
As you improve your understanding your portfolio will evolve as well.
An example of a solid portfolio would be:
50% Bitcoin.
25% Large caps ($ETH,$LUNA,$DOT,..)
25% Small caps.
Plenty of stability built-in + 25% with a lot more upside = peace of mind and success.
An example of a solid portfolio would be:
50% Bitcoin.
25% Large caps ($ETH,$LUNA,$DOT,..)
25% Small caps.
Plenty of stability built-in + 25% with a lot more upside = peace of mind and success.
6. Don't Spend What You Can't Lose.
Do NOT spend a single dollar you cannot afford to lose.
Please.
I see a ton of people FOMO'ing, coming from a place of desperation.
You will get absolutely wrecked because you will make terrible decisions this way.
Do NOT spend a single dollar you cannot afford to lose.
Please.
I see a ton of people FOMO'ing, coming from a place of desperation.
You will get absolutely wrecked because you will make terrible decisions this way.
The money you're investing CANNOT be taking away from your mental health or putting more financial pressure on you and yours.
Ever.
I know the intrigue is there and I know you see people get rich overnight.
Just invest that money in yourself/learning first and THEN come back.
Ever.
I know the intrigue is there and I know you see people get rich overnight.
Just invest that money in yourself/learning first and THEN come back.
7. Learn To Take Profits.
Sounds super easy, right? Wrong.
People weirdly get emotionally attached to their coins.
If something has gone up 100%, you HAVE to take profits on the way up.
How?
Sounds super easy, right? Wrong.
People weirdly get emotionally attached to their coins.
If something has gone up 100%, you HAVE to take profits on the way up.
How?
1. Each move upward you take a certain % of your bag to take profit. Rinse and repeat and then just leave a little bit, in case the coin goes 'to the moon'.
2. Once your coin goes up, you take out the initial investment and leave the remainder. You're now playing with house $.
2. Once your coin goes up, you take out the initial investment and leave the remainder. You're now playing with house $.
The problem is people forget to take profits. They assume the coin is going to keep going up.
NOTHING has ever gone up forever. Markets always 'crash'.
And until proven otherwise, the bear market can make you lose 80% of your portfolio within the blink of an eye.
Take profits!
NOTHING has ever gone up forever. Markets always 'crash'.
And until proven otherwise, the bear market can make you lose 80% of your portfolio within the blink of an eye.
Take profits!
All that being said, understand this:
I've made every single mistake out there.
I'm 100% ALL of us have. Don't let that scare you off.
Embrace the future, embrace really sucking at first ;-), and then gradually leveling up and winning!
I've made every single mistake out there.
I'm 100% ALL of us have. Don't let that scare you off.
Embrace the future, embrace really sucking at first ;-), and then gradually leveling up and winning!
RECAP:
- Narratives to win
- Do your own research
- Buy when others sell
- Don't get scammed
- Portfolios evolve
- Don't risk it all
- Take Profits
Thanks a million for reading guys.
Truly appreciated! Follow me at @mindsetsasha for more.
Much love.
- Narratives to win
- Do your own research
- Buy when others sell
- Don't get scammed
- Portfolios evolve
- Don't risk it all
- Take Profits
Thanks a million for reading guys.
Truly appreciated! Follow me at @mindsetsasha for more.
Much love.
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