crypto currency education

It is really easy to make ...or lose money playing around with crypto.   I've been in it since 2012.   I've been crypto-emancipated since 2015.   I still have to do odd jobs during the down years, but crypto is what has enabled me to work on my own terms and do big long term projects (like building food forests) that have upfront costs but no immediate pay.

So, if you want someone to help get you started in a safe reliable way, hit me up.   I work for $25 per starter session.   That includes 1 hr. phone session, and all the emails and links you need to get started.

Warning ... crypto is "up" right now ...that's the only time anybody thinks about it, and its also the worst time to get started.   So, I highly recommend to only put about $500, and only that if you can afford for it to drop to $50.   If you can emotionally handle that, and keep that $50.00 in there for 4 years or more ...then I can help you.   Or, if you can remember to hit me up next time it all crashes, I can really help you.  Like so many investments, you have to stick with it for a few years ...and ideally put more in when its "low".

There are some really good crypto-projects out there now that actively reward you with interest paid in the crypto that you are invested in.

If you wanna do your own research, here are a couple free links:

https://cardano.org/

https://solana.com/

Cardano and Solana are my current favorites.   There are 100s of other good crypto investments, and 1000s of bad ones, so move slow, and perform due dilligence.  

Start SMALL, download the project's core wallet, and see what you can do with it.   If the project delivers a solid reliable "thing" that you can do something with, it might be a viable project to invest in.    Just don't fall in love, and always keep looking for the next cool "thing".   Crypto is moving at an insane speed and its easy to get stuck in yesterday's cool project that is fizzling ( I know this the hard way).

I am a super fan of projects that pay out interest in the crypto that you invest in.   For example, in the last 4 years I've earned in interest, 1 free Cardano (ADA) for every 3 that I bought.   The wallet runs on my phone, and all I've had to do was go to the "staking" part of app and select to stake my Cardano (ADA).    Its hands off from there ... just make sure to write down the recovery phrase and keep those words in a safe place!  

These are the two most important aspects of crypto:   Save your crypto in a "self-custody" wallet, and keep your wallet recovery words written clearly (on nice paper with good ink), and keep those words in a fireproof safe.   Ideally keep multiple copies of those words in multiple locations.   Your electronic device doesn't matter, those wallet recovery words are what matters the most for keeping your crypto safe.

Hello James!

I am a professional trader.  I think you are right on with you assessment here.  

Trading crypto is an excellent market to learn.  It has volume and volatility.   Both important for the ability to make money trading.    

If anyone wants to learn more please chime in!  

There are a lot of traders here on permies and we can create some free education to help folks get started or take their trading to the next level.

Thanks for bringing this in!

the top ten crypto currencies, based on current market cap, and how they performed in the last year

BTC +117%
ETH +52%
XRP +206%
SOL +180%
BNB +187%
DOGE +274%
ADA +60%
TRX +136%
AVAX +15%
SHIB +144%

Ok, I'll bite...

Currently in my early 20s, kind of a nerd about these personal finance sorta things. Started work last year and contributed the max to my 401k and on track to do so this year too. Also contributed the max to my IRA for the last 2 years and will do so again this year too.

So I kinda figured I'd just play it safe, invest in the index funds, and allow compounding to handle the rest - especially since my time horizon is so far off in the future anyway. Lately I've had the idea that with certain cryptocurrencies, you could invest a relatively small amount (maybe a couple hundred dollars), forget about it for a few years, and then come back to see some pretty substantial growth. Now, which cryptocurrencies specifically - idk, and whether that trajectory could continue into the future - also unknown.

I guess the hangup for me is that the whole TerraUSD / LUNA thing left a bad taste in my mouth. In the grand scheme of things, it wasn't ruinous for me or anything. But basically I got into it bc of someone whom I trusted and now realize the whole thing was so stupid. I could've parked my money in I-bonds with essentially 0 risk, and that would pretty much have achieved everything that Terra was promising.

A few years ago, two people asked if they could pay me in bitcoin. Sure.  One person paid me $400 for a rental, and one person paid me $100 for some digital stuff.  Done. At the time, bitcoin was worth about $600.  So I had something like 80% of a bitcoin.  And then I forgot about it for a couple of years until bitcoin was something like $20k.

I moved some of it into a few of the other cryptos.  

Yes, you can get $100 worth of any crypto.  I think that technically, you can get a penny's worth of any, but I think the cost to get that penny could be high for some of them.  

Samantha Lewis wrote:Hello James!

I am a professional trader.  I think you are right on with you assessment here.  

Trading crypto is an excellent market to learn.  It has volume and volatility.   Both important for the ability to make money trading.    

If anyone wants to learn more please chime in!  

There are a lot of traders here on permies and we can create some free education to help folks get started or take their trading to the next level.

Thanks for bringing this in!

Samantha -

I'd be interested to hear more about this.

Items of particular interest to me:
- What exchanges or other markets do you find to be reputable, and for which currencies?
- How do you hold your crypto (cold wallet, custodial, etc.)?  Does that affect the platforms you use?
- Do you take positions based on technical indicators or on fundamental research?  Short term or long term (i.e. hodl versus day trade)?
- What money/portfolio management practices have you found to be helpful to control risk and to reallocate gains?
- Do you diversify gains outside of the crypto markets as part of your strategy (i.e. ag land, hard currencies, or gold)?
- Have you been through sustained down markets?  If so, how has that informed/changed your strategies, if at all?
- I'd also be interested to know what options markets are available to help manage downside risk of shorter term positions.

As an outsider, crypto markets seem to be a bit of a Wild West, with lots of scammy and disreputable characters.  However, I find myself  resonating with the philosophical positions of many of the publicly vocal BTC maximalists.  I am an unsophisticated long term investor for my retirement account, but I also realize I am overexposed in US dollar denominated assets, and am considering what alternatives I have available to diversify.  I am not against a more short term strategy, but transaction costs might be an impediment to me at my risk level.

Thanks for any insights you can share about your crypto trading.

Kevin