Lessons I’ve Learned About Crypto as an Advisor

Let’s start with a personal journey into cryptocurrency. It all started in the fall of 2017 when I persuaded my partner to buy crypto for the first time.

Despite all the frustrations of the Know Your Customer (KYC)/Money Laundering (AML) process, I opened a Coinbase account. Then I was shocked to learn that there is more to it than Bitcoin.

Out of naivety, I bought Ether first because Bitcoin had already crossed $5,000. So, this other cryptocurrency that I did not know will also grow the same. As the cryptocurrency market is open 24 hours a day, we checked our Coinbase accounts approximately every 15 seconds.

I woke up in the middle of the night to check. I will check the price first thing in the morning. Time to check the price while waiting for the red light. I had no idea what I was investing in or why the price was moving, but I liked that it was simple.

The next step was to trade cryptocurrencies on multiple exchanges. In this scenario, they had to go through KYC again, but the exchange was not based in the US.

I traded a lot of cryptocurrencies that I knew very little about bitcoin in order to raise more bitcoins. knew very little about all these cryptocurrencies or asset trading, so they started joining the Telegram group, now commonly referred to as the “pump and drop group”.

In fact, I didn’t know I was part of such a wicked thing. I’ve re-read the updates day and night and tried to make a decent deal.

Usually, they trade late and buy at the high end, or they are too greedy to leave at the right time and give up all their profits.

Through this course, I learned how to trade support and resistance, relative strength index (RSI), stop loss and take profit.

What motivated me to see all these cryptocurrencies I traded and send me to the rabbit hole to learn all I could do about Bitcoin, blockchain technology, storage, and many other developments I would later call Decentralized Finance (DeFi) and the Internet. has been 3. Only then did I come across this technology.

While my associate and I attempted to decide how we may want to make cash consulting, we observed that I changed into higher at teaching human beings approximately crypto, blockchain and virtual assets, and we began out our YouTube channel in mid-2019. We centered on assisting human beings extra without problems recognizing the era and the brand new structures that had been being built, with a unethical on how crypto, DeFi, and blockchain could have an effect on finances, organizations and lives.

Since that time, I actually have attempted numerous exceptional wallets, making an investment in as a minimum a hundred exceptional tokens, yield farming, and NFTs.

Some I actually have carried out as a be counted of higher expertise the process, protocol or opportunity. Some I actually have researched and clearly preferred the mid-to long-time period boom possibilities. And a few I actually have just “aped in” to attempt to make a few short cash.

Buying too late, selling too early… Selling too late. I have certainly been a victim of FOMO and continue to fight. I was deceived, almost deceived, hacked.

I have also made great strides in terms of return on investment and the benefits of knowledge and understanding along with the growth of the network I have been able to develop and maintain.

With all of this experience, we’ve highlighted a few things to keep in mind when investing in cryptocurrencies, good or bad, and consulting with others.

1. Don’t look for quick bucks.

I tried to trade, thinking that exploiting someone not as smart as me would give me quick money. They are smarter and expect people like me. People who trade well in cryptocurrencies or other assets have different skills and motivations than investors.

Most of us cannot calculate time in any market and will suffer from this. Shopping sites, social media channels, and YouTube channels, as well as commerce, are best left to the people who are part of this profit motive.

2. Get educated.

The best way to invest in new technologies and infrastructure and help others invest is to understand them.

With a better understanding of how Bitcoin works and how many other cryptocurrencies work, we have been able to resist many temptations to imitate certain tokens or to sell hastily on what seems like bad news.

3. Have an investing plan.

This is the crux of why consultants should learn cryptocurrencies to help clients develop plans. Each person has different risk tolerances, goals, needs, and lifestyles.

I must have had some plans for the project I was working on and the amount of money I would invest in a project that would actually pay off in the long run. I also decided when I felt like my investment thesis was canceled.

This is based on my level of comfort with technology, my own propensity for risk, and the amount of time I had to dedicate.

For example, I decided to invest a few hundred dollars in a new project with a good team, but I didn’t audit the smart contract. If the cost had come down quickly, I wouldn’t have rushed if I had faith in the team. If you double your money, you’ll sell some and leave the rest.

For more established protocols, we are willing to invest more but expect lower returns. I also know what should affect the value and what can drop it.

4. I’m not going to catch everything.

When I started learning about cryptography, everything was cryptography. The cryptocurrency then forked into DeFi as well. Then we added non-fungible tokens and now we added Decentralized Autonomous Organizations (DAOs).

Each new variant added a new millionaire, which on the surface seemed like a bad start overnight. The infamous provider DoorDash has turned into an eight-digit venture capitalist in the cryptocurrency space in a matter of weeks.

I have to be content with the fact that each of these crypto subgroups is actually an entire investment ecosystem with experts, value drivers, scammers, and profit motivators. I can’t be a good investor in all of these areas, so I shouldn’t try to invest in everything. It’s a tough lesson to watch as so many others adapt to life right away.

5. Security and safety are key.

The self-controllable nature of cryptocurrency puts the safety of my assets first. I decided to store more assets in some sort of digital form (cryptocurrencies or stablecoins) so that I can make more money.

With the Real Estate Plan, I had to work really hard to come up with a safety and security plan. Since most of our fortunes are cryptocurrencies, we also had to teach our wives how to access them and how to keep them safe.

This will be a very important conversation and a source of value we can provide to our customers.

6. Conviction is also important.

Several times over the past few years, I’ve wanted to have the confidence to keep certain tokens and investments going during a recession. I’ve come to realize that all millionaires usually seem to have to suffer for a while when the soaring value of crypto assets makes their investments seem worthless overnight.

I did some research and found a project I liked to invest in, but too often the temptation to give up if it didn’t seem to work has been very tempting. Often times, I follow FOMOs and move those funds into hot cryptocurrency investments. Many times I lost on both sides.

As part of my investment thesis, I have mentioned several projects that I am sure of whether they go up or down. The only way I can sell faster is if something significantly changes the value of my thesis or investment.

If you want to start learning and investing in cryptocurrencies, so click here to learn step by step with easy tools that going to help you earn a lot!

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I am A graphic designer and a web developer for more than 13 years, I am here to share my experience and knowledge with those in need.

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MehdiC

MehdiC

I am A graphic designer and a web developer for more than 13 years, I am here to share my experience and knowledge with those in need.

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