3 things I wish I knew BEFORE I got into crypto

Hey friends! I’m back after a little hiatus on the newsletter.

A LOT has happened since I last sent out an email.

Bitcoin has made new all-time highs, crossing over $73,000 for the first time ever.

The Bitcoin halving has now happened, hopefully setting off the true run-up to $100,000+ Bitcoin.

It’s all very exciting. Excitement is great, but it’s not super useful when it comes to being a savvy investor in this space.

So here are 3 things I really wish I knew BEFORE I started on my crypto journey that I think could be helpful.

1) FOMO or fear of missing out… is certainly a real feeling, but that’s all it is. You won’t actually miss out.

Here’s the truth about crypto:

For every opportunity you miss out on, there are 100 more still out there.

That’s not hyperbole. That’s real.

There are literally thousands and thousands of coins and tokens and potential investments in the crypto space. With tons of news ones coming into existence every day.

So my encouragement to you is to internalize that. If you looked a coin/token that seemed promising, but skipped it… then it ended up doing a 10X or more. Don’t sweat it. Really. Don’t.

There are plenty (oh so many) where that one came from. Just keep your eyes peeled for the next one. I promise it’s out there.

2) Making more money > Squeezing the most from your investments

I know it seems obvious, but making more money is going to help you way more than just trying to get higher returns.

Desperately trying to find a 10X or 100X or more with limited funds is a recipe for disaster.

Picking up some side hustles, budgeting your money better, or selling all the stuff you don’t use to get some extra income is a recipe for max crypto gains.

Why?

Because you can deploy money into something risky. Then earn more and deploy that new money into something else. Then rinse and repeat.

Doesn’t matter if some of them don’t work out. You aren’t working with limited funds. You increase your chances of success.

This is what I learned how to do after a bunch of giant failures in crypto when I was just getting started.

3) Think longer

In crypto, it’s easy to get lost in trying to get rich quick or all the fast and exciting things happening.

I’ve found the real magic happens when you are patient. Yeah, it’s boring. But it works.

If you can learn to think longer than days, weeks, or even months, then I’m convinced you’ll greatly increase your chances of success.

Hope you are all enjoying this exciting new paradigm in crypto. See you in the next newsletter.

Andy