Bitcoin and other cryptocurrencies are now one of the top investing memes of 2021. Bitcoin is by far the most famous and most liquid—and of course the price action has been great for long term holders like me….BUT
Bitcoin is actually not where I’m making most of my money in cryptocurrencies right now. In fact, because it bitcoin is so famous and liquid, it has become relatively efficient and there are now MANY more places to make money than bitcoin.
If you’re new to crypto, you may not know where to look to find the best crypto investment and trades for you.
I can tell you the VERY FIRST PLACE you MUST look.
Within. Seriously.
You need to know what kind of investor you are. Once you know that, finding the right investment in this exciting and fast growing space is remarkably easy.
My many years of experience in crypto tells me there are FIVE kinds of investors:
- Stock market only crypto investor—you invest in publicly traded companies on the stock exchange that are either bitcoin miners or bitcoin exchanges etc.
- The HODL investor – Hold On For Dear Life. Buy bitcoin or Ethereum or both, and keep holding it. It’s been a winning strategy for a decade now. But is it a winning strategy for the next two or three years.
- The risky altcoin gambler. In the past few years, buying 10 cent altcoins has been the perfect way to…lose money. But not anymore. In the last year, tokens in the Defi space (Decentralized Finance) have come out of nowhere to $100 million or billion-dollar market caps.
- The collector. Ever hear of NFTs (non-fungible tokens)? The NFT space is the hottest niche in crypto. And it attracts the type of investor who prefers to paint and draw cartoons all day instead of reading financial reports.
- The dividend investor. Did you know it’s now possible to buy US digital dollars (called stablecoins) and deposit them in a trading and earn interest? As much as 10% a year. Investors are stampeding into this niche.
If there are five investors in a room, there are five different crypto-investment strategies best suited to each of them.
Watch my video to see which one you are…
