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Best investment book recommendations?
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You’re not late. The entire market Cap for all cryptocurrencies is less than 2T. Smaller than the market cap of Apple. As a beginner I recommend downloading coinbase, connecting your bank account, and dollar cost averaging into the protocols you believe in the most. Bitcoin is an easy place to start
Rising Star
This except Coinbase Pro for lower fees and split between ETH and BTC
It’s not investing, so much as speculation. You never need crypto. There are control oddities, like concentration of ownership, country reactions to the tech, etc.
Purpose is also a factor for your investing. If you understand Ether vs Bitcoin and their relative intentions and associated “business models” then you should invest. Otherwise, there’s no reason to - you’re just responding to FOMO.
I just did a global research study on crypto and spoke with a ton of people about their understanding and usage of it.
Here’s the thing nobody seems to get: most of the major coins grow YoY. There’s some bumpy volatility in the short term, but all the big ones just keep rolling upwards.
There’s a great YouTube video that explains the basics, search for ‘crypto for dummies’.
Definitely get some money into BTC and ETH, cardano and polka dot are the other ones I’ve put some money into for speculation.
Just be aware, the cash you put in there is less safe than a F500 ETF, but you’ll likely see bigger returns. I’m putting very small amounts in (under 1k) to test it out.
Btc is expensive right now. Start with ETH i think.
Stay away from meme coins.
BTC is the only coin which will hit 500k in next few years. People will no longer trade in BTC, they will trade In Satoshis. Everyone who can afford should have 1 BTC in their portfolio
BTC only. All other crypto are too risky
Agreed with A1, always have some BTC, and really try to understand why it is valuable.
1. I have a portion invested and I’m riding the wave.
2. The price is driven purely by speculation.
3. To the people here that say it’s a hedge against inflation. Look up Tether- literally billions of dollars have been printed out of thin air. 80% of all BTC transactions are not dollar-> BTC. It’s Tether->BTC. Tether manages $65 billion, and is allegedly one of the largest commercial paper holders in the world, but none of the other big players have ever heard of tether. Tether says they are backed 1:1 by the dollar, but have never been officially audited. They are under investigation currently and eventually the rug will be pulled.
4. Read these comments ”BTC can store my life energy”. WTF does that even mean. Pretty much sums up the value of BTC… there is none.
5. You will start to see the people that raise legitimate concerns about this and other things (BTC wastes energy, BTC is actually more centralized because it gives a smaller group of people more control, etc) attacked as “FUD”, being poor, “boomers”. Red flags and signs of a cult.
6. My suggestion, do your research but allocate a portion to invest. I think it’s got more room to run. Simply put there are too many people roped in that have no idea what they have invested in. One day it’s going to come crashing down…
Bitcoin and other altcoin prices are too volatile. What I see with most new investors is they enter the market and sell and take loss during downturn and end up fomoingback at the top. This is due to lack of conviction. You need to read to build the conviction. So along with buying Bitcoin (not any other shit coins? Try to read and understand Bitcoin and the below can help:
1. The bullish case for Bitcoin - Vijay boyapati
2. The Hard money you can’t F* with - Jason Williams
3. The Bitcoin Standard - Saifedean
4. Bitcoinaudible.com
5. The book of Satoshi
6. Inventing Bitcoin - (Free book if you go to Swann Bitcoin)
Some exchanges where you can buy bitcoin
1. Coinbase Pro
2. Cashapp
3. Gemini
4. Swanbitcoin.com
5. Strike app (0 fee to buy bitcoin)
99Bitcoins YouTube channel has a playlist (below) that’s a pretty good intro to crypto and Bitcoin as well. Read up on BTC, ETH, and some of the other large coins to understand the value they bring to the market and why people like them in general.
Then follow HoS, A2, and A1s advice as they’ve stated things a lot better than I would have
https://youtube.com/playlist?list=PLU52pNodXIGdM6XDgHVG7DsPytlsrR_6b
I consider myself and my friends mindful investors (for our age group) and even though we each have a preferred concentration (RE, stocks, crypto), all of us have crypto to some extent. 5%, 25%, to 90% of net worth.. etc.
Someone with 90% in crypto can no way be termed a mindful investor