In 2018, I was reading 20-30 crypto articles daily!
Pay attention to these important lessons...
In 2018, I was reading 20-30 crypto articles daily! In programming, I’d be a senior Dev.
Hear me out!
Doesn’t matter how early you were, if you lack capital, people who came in much later will make more money than you - with less effort. Capital is leverage!
Web3 is still early despite moving faster than any other innovation. Narratives have evolved - and still evolving. What you knew a year ago might not be correct information. To catch up, you must consistently research and stay on your toes for new information.
You will have an edge if you work very hard! But it will cost you energy and time.
Going full-time crypto means you’re willing to speculate on innovation. You need to have big bags unless you’re contributing your skills to make a living off the ecosystem. Retiring with DeFi is easy if your bags are heavy.
How much do you need /month to stop working actively right now? You can currently earn 19.48% APY on Anchor protocol, 17% on Nexo + insurance on UST (stablecoin) with insurance. Nexo is an industry OG by the way!
Everyone loses money in crypto. The volatility is insane so it’s fair enough that younger people fill up the category of “most active”. The older you get, the more risk-averse you should be. A mistake made in your 20s is easier than one made in your 40-50s. You have less time to make up for it with more responsibilities.
There are other ways to make money asides “Trading” if you lack the appetite for high risk. Writing, bug bounties, yield farming, staking, savings … If you lack time and have money, go for the passive options (yield farming, savings, staking).
Big accounts don’t automatically confer trust. Everyone has self-interest. Many have lost money chasing calls from supposed influencers/ anon big accounts and end up ranting on the comment section of people who don’t care about them.
Sorry, but there are private whale groups where they discuss what you see in public.
You think it’s a coincidence they shill almost at the same time? Bear season is bad for business! They’ll be back, trust me.
Follow experienced experts, but trust your guts. Be sure to gain adequate knowledge before you trust your guts.
Stay responsible for your decisions. The mantra “not financial advice” is cover enough to exonerate anyone who shills you a rug/scam.
No matter how much you try to blame them, you bear the consequences of your financial decisions. So make sure your last checkmark comes from personal conviction backed by personal research.
Most people get this wrong: Your goal is to be free, not retire. It’s boring when you retire. Take your aged parent away from what they’ve been doing for several years and watch them die faster.
Do you think people just want to sit on the beach and sun-bath for the rest of their lives? Scratch that!
Your goal is to be financially free enough to work on what truly gives you joy, even it doesn’t make you money.
I’ll be sharing a lot of lessons as you follow along while we grind through the bears.
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