Thread by @0xsash

I turned $7k into $100k in 2022.

22 crypto lessons I wish I knew earlier.

(because I would have made 10x more)

// THREAD //

1. Accept that you're going to suck at first and give yourself permission to make mistakes when you start off.

Sure, I made solid gains but I definitely made mistakes along the way.

That's fine.

2. Study before you do anything.

30 minutes a day for 30 days.
Youtube, Twitter, Reddit, I don't care.

Just study and research.

I used my commute, my breaks, and yes sometimes even my work hours to consume crypto content.

Get obsessed.

3. Do not invest in anything you don't properly understand.

I jumped into liquidity pools, had no clue what I was doing and lost 30% of my portfolio right away.

#NGMI

4. Let mistakes be actionable data.

Ok, you fucked up but you now know what not to do.

And guess what? You WILL make mistakes.

5. Start off with tiny amounts.

Yes, you learn by getting skin in the game but if your total portfolio is $100 then experiment with $1 first before you ape into a project.

6. Limit your risk at first.

50% went into BTC and ETH.
The other 50% I put into solid altcoins with excellent fundamentals.

As a rookie, you just CANNOT go fully degenerate.

You WILL get rekt.
Trust me on that one.

7. Keep your emotions out of it.

You see people winning and so you're tempted to ape in.

Just don't.

Keep FOMO out of it.

Accept that you missed that opportunity and let's find the next one.

There are always other gems out there.

8. Stop trying to trade.

Look, I've been there and I've done that.

If later on in your journey you want to give trading a shot, be my guest.

When you start off, just buy and hold.

I lost a ton by trading.

9. When in doubt, zoom out.

You shouldn't care what a chart is doing on a 4-hr frame.

You should care what direction the chart's going on an annual frame.

We're investing for 5000% gains by 2025, not 2% by tomorrow.

10. Invest in fundamentals.

Do they have NFT experience?
What problem is the project solving?
What are the tokenomics?
Who's in the team?

That is why I can't invest in 'kittycoin' that has 2 trillion coins in circulation and is built by 3 high school juniors.

11. Understand the future.

100% of finance will be decentralized.

90+% of economic activity is going on-chain.

A lot of our entertainment and social activities will be virtual.

Stop romanticizing the past.
Start studying the future.

You're here to make money, right? (see #7)

12. Create an investment thesis.

You know the metaverse will require decentralized:

- Storage
- Layer 1s
- Stablecoins
- Computation
- Interoperability
- Identity security

Next time you're about to invest ask yourself:

Is this transaction aligned with my investment thesis?

13. Influencers can get you REKT.

I see it happen every week.

They call a project/coin, followers buy in and the coin pumps briefly.

Then the influencer sells his bag once the price has gone up enough for him/her.

You'll have filled their wallet and emptied yours.

14. Do your own research.

When I started I knew jack shit.

I bought courses, read every single crypto thread on Twitter, watched youtube, etc.

If I didn't understand something initially I searched until I found answers.

THAT is the only way to make it.
Understand that.

15. No one is coming to save you.

Sounds generic, I know.

But you need to get this.

I understood that crypto was my best chance at completely changing my life and being 'free'.

I stopped waiting for 'help'.

I just dove in and made it happen.

You can and should too.

16. Find help.

Tons of free content out there to help you get started. I give a lot of free value every day on Twitter.

But tbh my biggest wins came after I joined some premium groups where I was able to ask questions and learn from people better (and smarter) than me.

@FiftySatFinance and me created a premium community we wished we had when we first started.

We answer your questions.
We walk you through obstacles.
We give you daily insights on new plays.

Check it out!

Price going up to $28.99/month next week.

bit.ly/30rGVji

17. Pick a niche within crypto.

DeFi
NFTs
Metaverse
Cryptocurrencies
Decentralized governance
Smart contract computation
Decentralized infrastructure

Pick ONE, maybe two!

I promise you'll make more money this way.

I've focused mainly on Metaverse infrastructure and NFTs.

18. Pick an ecosystem

Polkadot, Avalanche, Fantom, Moonriver, Solana, Cardano...

It's impossible to follow up on every chain's projects.

Pick one chain and dive into its ecosystem.

Maybe you can become the next Cardano DeFi expert?

Or the next Fantom NFT guru?

Niche down.

19. Take profits.

Trust me on this one: it's SO hard.

We all get weirdly attached to the coins we bought.

Each time your bag goes up x %, you take profit.

Do this until you only have a bit left which you leave just in case it moons.

Get out your initial investment ASAP.

20. Use the right tools:

In addition to Twitter, Youtube and Reddit here's what I use daily.

1. @MarketCapOf
2. @CoinMarketCal
3. @CryptoPanicCom
4. @MessariCrypto
5. @TRDR_io
6. @tokenterminal

Next time an influencer promotes a project, run the coin through these tools!

21. Grow alongside your portfolio.

The initial safety you built into your portfolio will shift as you gain experience, confidence and let's be real, dollars.

If you've taken profits repeatedly, you could allocate a bigger % of your portfolio into coins with higher risk/rewards.

22. You CAN do this.

If you're like me then you're not used to having money.

Maybe you still don't have money.

That's ok.

Start unlearning your beliefs about money today.

Don't let your mind limit yourself.

I need you to believe that you TOO can do this.

RECAP:

- Limit your initial risks
- Understand the future
- DYOR and find your tribe
- Plan for 2025, not tomorrow
- Taking profits is tough as sh*t
- Mistakes and overwhelm are ok
- Believe in your ability to succeed
- Focus on some things, not all things

Thanks a million for reading guys.

Please RT the 1st tweet so others can hopefully get some value from it as well.

Follow me at @0xsash for more!

Appreciate you all.

Sash

*2021, OBVIOUSLY. Hahaha