Investing in cryptocurrency is new to all of us. Think about it. Just 12 years ago, there was no such thing as crypto. I have underwear older than that.
Crypto Buying Guide Amazon Cover Introduction to the Crypto Investing Guide
When Satoshi Nakamoto, Nick Szabo , or whoever was ultimately responsible for creating Bitcoin released their ideas into the financial world in 2010, it created an entirely new investment opportunity. It was one that has made several (perhaps hundreds or thousands) rich beyond their wildest dreams. Why not you?
Think about it like wanting to become a mechanic. The first thing you’ll need is a toolbox. Think of this book as a screwdriver. Not the one you drink but a essential tool you’ll use again and again.
The Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs, and More by Ian Balina and the Token Metrics Team is available on Amazon for $8.99 . I got mine with Kindle Unlimited . Of course, there’s also the option of getting it on Amazon Audible Plus .
A new addition to KU that I love is free reads of magazines. I can “borrow” People , Reader’s Digest , Bloomberg’s Business Week , Better Homes & Gardens and others for one low price per month.
Sorry, I had to chase that rabbit down the hole. Now, back to your investing guide.
I borrowed it on KU, but I bought the paperback version to keep on my desk for quick reference after I read it.
I wish I had had this book before I started investing in crypto. When I first started investing in crypto, I just bought whatever everyone was “hyping” or “pumping,” needless to say, I suffered a few losses, even though the crypto market was going up, my investments were going down because, by the time I heard the hype, the coin or token was already at or near an all-time high (ATH). Most Essential Sections to Read & Understand
Not every chapter is essential to the buy-and-hold or hold-on-for-dear-life (HODL) investor. Like the chapter on NFTs. I didn’t even bother to read it because I was not interested in NFTs.
I suggest reading these right away, and then reading the others later if you are interested. Chapter 1 — Introduction to Blockchain and Cryptocurrency
It is essential to understand blockchain to know if your cryptocurrency choice is a good project or not. Chapter 2 — How to Use and Store Cryptocurrency
Ian explains how to store, hold, send, and receive cryptocurrency in this section. Chapter 3 — Securing Your Crypto from Hackers
To me, this is a little out of order. You should have a “cold wallet” before you buy any cryptocurrency. It only takes a few seconds or minutes for a hack to occur.
If your coins or tokens are there on the exchange, they could be stolen. “Ten percent of all mined BTC has been stolen. Read my article, Not Your Keys, Not Your Crypto (NYKNYC) . Then, buy a Ledger Nano X to store your private keys. Chapter 4 — Introduction to Value Investing
Chapter 6 — Building a Portfolio
Chapter 7 — Introduction to Fundamental Analysis (FA)
After you understand crypto and how to store it, FA is crucial to making money buying and selling crypto.
This chapter goes into reading and using charts. To me, there may not be a more crucial skill than reading charts and FA.However, you might want to check out some YouTube videos on the subject. How To BEST Read Cryptocurrency Charts This YouTubew video was created by one of my favorite v-loggers, BitBoy Crypto . Chapter 9 — How to Evaluate Crypto Technology Chapter 10 — Introduction to Token Sales: ICOs, IEOs, & IDOs ICOs are either the best or worst time to buy. Typically, everyone wants some when the coin or token is released, but it could already be too late to profit. DO NOT buy into the hype and the fear-of-missing-out (FOMO).It is better to leave it alone and wait for the hype to end and buy at what will likely be a lower price. It will inevitably drop back when the whales and other elitists sell. “The term “whale” is used to describe an individual or organization that holds a large amount of a particular cryptocurrency. There is no exact cutoff threshold for this definition, but some say a Bitcoin whale should hold at least 1,000 BTC.” — Binance Academy. However, some exchanges offer an opportunity to buy tokens before they are listed. […]
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