The right steps to enter the crypto space for a newbie

The right steps to enter the crypto space for a newbie:

  1. Put only the money that you are ready to lose 100%
  2. Once you have some crypto, you will be motivated to know more about that crypto and its community
  3. Join those communities and read more about that project
  4. If you feel that crypto is stupid, remove your money into a stable coin
  5. Search for other projects and communities - you will eventually reach the diamonds hidden under the social noise
  6. Put that money into this project and participate in that community (if you reach step 4 again, continue with steps 5 and 6)
  7. Only when you become a believer of that crypto, put more money into the investment. Keep engaging with your community now.

You will finally realize that crypto is NOT about money, it is about a revolution. An opportunity to be a part of a collaborative global financial decision!

If you think you cannot do this, DO NOT ENTER in crypto, stay safe and just observe - just buy your 3rd smartwatch and be happy. It’s alright! But don’t spoil the space.

Sir, how much of one’s portfolio should they allocate towards crypto assets as compared to traditional assets?

If I was your financial advisor, I would have answered this:

This question has to be answered by knowing and understanding many things:

  • What is your age
  • What is the ultimate goal of investment
  • How much have you invested in “other assets”
  • How many sources of Income do you have
  • Do you have any dependencies and family commitments
  • How soon are you planning to invest
  • and many more

But answering these questions might sound boring to you AND I am not your financial advisor :frowning:

So lets just say you dont order Chinese from Zomato one weekend - maybe you can start by putting that money? If you lose, you can let it go by thinking you ate that chinese. If you make some money, you can buy me chinese! :wink:

1 Like