[Part 1] The 6 Biggest Crypto Lessons I’ve Learned

As an investor and educator in the Crypto space for many years now, I’ve learned my fair share of lessons! After all, learning curves are part of any new journey, and Crypto is no different.

So, I’ve decided to share some of my biggest learnings with you, to arm you with a bit more knowledge about this asset class and prevent you from making some potentially costly mistakes.

I’ve cherry picked 6 of my biggest lessons and I’ll be sharing them with you over the next few days. So, grab your notebook and pen, and let’s begin…

1. Believe nothing of what you hear and half of what you see.

It’s wise to remember that big institutions might be saying one thing about Cryptocurrencies, but they are very likely doing another. And although you might not be hearing about it, there’s a lot of institutional money being poured into Crypto right now. So take everything you hear with a grain of salt, and keep in mind that market manipulation can and does happen.

Case in point: In 2017, Jamie Dimon, CEO of JP Morgan Chase, came out and publicly slammed Bitcoin, calling it a fraud and a ponzi scheme. The price of Bitcoin actually dropped after he made those comments. Jamie Dimon clearly wasn’t a fan!

Except….. he was found to be buying Bitcoin just days later. Awkward.

Jamie ended up backtracking on his comments and Bitcoin saw a 42% increase within days.

Take from this what you will.

2. Never invest what you can’t afford to lose.

The best way to manage your portfolio is to be emotionally detached from it.

Easier said than done, right?

But investing an amount that is comfortable for you is a much better strategy than impulsively betting the house. A good way to measure this is to ask yourself: ‘How would I feel if the market did a 90% correction?’ If the thought fills you with dread, you’re investing too much. But if you’re happy to let the market do it’s thing, that’s the right investment amount for you.

Also, don’t forget that Dollar Cost Averaging (DCA) is your best friend. You can always elect to accumulate larger chunks when the markets drop, but DCA is a great way to steadily add to your portfolio without the emotional baggage.

3. If it’s too good to be true, it usually is.

There are so many shiny objects in the Crypto space – trading bots, celebrity endorsements, leverage trading, security token offerings, ICO’s – all this Crypto clutter can serve to distract you from your investment path.

But remember, real wealth is created through long-term buying and holding, and investing into growth sectors that are creating infrastructure and building out the Crypto space.

Shiny objects are often there to tempt us into bad investments, so if it’s too shiny, bright or loud – best to stay away!

Stay tuned for the second part of this series, where I share 3 more tips that have helped me in my journey, and will have you dodging the steep learning curve and doing Crypto like a pro.