This is for all the new investors and speculators to Bitcoin and other cryptos. You’re probably looking around saying “how the F do I get involved? This is so confusing!” I’m no genius, but I’ve been in this world since 2013 and wanted to share some resources and frameworks for thinking about investing in case it’s helpful. Here’s a suggested playbook on how to get started: 1. Educate yourself 2. Curate your information sources 3. Determine if you believe in crypto assets 4. Decide if you want to be a speculator or long-term investor, or just like gambling for entertainment 5. Determine which asset would best serve your goals In regards to educating yourself, I’d recommend starting at the source; and then going down the route of following trusted long-term influencers. 1. Read the BTC white paper https://bitcoin.org/bitcoin.pdf 2. Watch Andreas Antonopolous videos on YouTube. https://youtu.be/l1si5ZWLgy0 3. Learn about our current monetary system Ray Dalio is my recommended starting point. https://youtu.be/PHe0bXAIuk0 4. Follow some of the early people in the space (Hal Finney, Nick Szabo, Adam Back, and the rest of the cypherpunks). Follow people who influence for each coin and determine which makes the most sense to you. BTC: Pierre Rochard, Robert Breedlove, Preston Pysh, Saifedean Ammous BCH: Roger Ver Eth: Bankless podcast & Twitter Others: https://coinmarketcap.com/alexandria/influencers-2020 5. Learn about other crypto assets (Ethereum, Bitcoin Cash, etc) Remember that every coin has pros and cons in their designs. Some more secure, some less. Some more centralized, some more decentralized. Study valuation models for each. Below is an example for BTC and for ETH. https://medium.com/@100trillionUSD/bitcoin-stock-to-flow-cross-asset-model-50d260feed12 https://medium.com/norwegian-block-exchange/how-to-value-ethereum-today-a7a33c8d54e1 6. Determine what % of your portfolio you’d be comfortable putting at risk that wouldn’t make you lose sleep at night. 7. Decide how you want to allocate that % by coin (100% BTC, 80/20 BTC/ETH, 100% ETH, etc), and whether you want to do a lump sum or dollar cost average to avoid extreme ups and downs 8. Decide on an exchange. Here some options and strengths/weaknesses. * Coinbase Pro: lowest fees for lump sum buys, supports multiple cryptos * Kraken: allows you to buy Doge as well 😂 * Swan Bitcoin: lowest fees for averaging into BTC. But, no other cryptos sold. * Bisq: for buying BTC anonymously, but you pay a price for that privacy. * Paypal, Robinhood: really easy to use, but you don’t actually get to own the Bitcoin and private keys * CashApp: easy to use, and allows you to withdraw your coins to cold storage. BTC only. 9. Learn about securing your coins. “Not your keys, not your coins!” Once you get over $5-10k in assets. My recommendation for resources here. https://www.lopp.net/bitcoin-information/getting-started.html #Bitcoin #crypto TC: $230k
Nah, safemoon to the moon
Thanks for putting this together.
Should have added: if you want to go the speculation/gamble route, listen to advice on Blind 😂
I was reading this, meanwhile my crypto portfolio just grew over $100K 🤣🤣🤣
If you started reading this post in 2018, you just finished in the bull market just in time 😀
TL;DR buy doge. 👍🏻 got it
Binance US has one of the lowest fees in industry at .075% in the lowest tier if you use BNB Coinbase Pro used to have no fees at one point, but their fees are egregiously high now unless you trade more than 50m
Yeah coinbase is trash. Fees are much higher and they have fewer assets than kraken and binance
Instructions unclear, did not read. up 80% on ETH anyway
Nah, doge to the moon
Can I please rent F35 for couple of hours sir ?
5 dogecoins. 10 dogecoins and I will even get you a personal maintainer.