This is your first cycle in crypto and you're feeling completely lost?
Don't worry, I got you.
Below I am sharing the complete “How to really get rich in crypto” blueprint.
This is a collection of principles that have helped me.
Within this article, you'll find a collection of principles/advices/rules that have guided me throughout my crypto adventures.
I’m confident that the things I'm about to share with you will greatly support you on your own crypto path.
Let's get started!
To accumulate wealth, you primarily have two strategies:
1. Accumulate assets that grow in value gradually.
2. Flip them for those that increase in value faster.
Only about 1% of individuals who attempt the second method achieve long-term success, statistically speaking.
Everything in our world is cyclical. Study history.
In a field where cycles are inevitable, neglecting historical knowledge puts you at a huge disadvantage.
While the foolish only learn through their own missteps, the wise gain insight from the experiences of others.
Next, here are two principles for making consistent profit from crypto:
Principle ①:
Master the art of managing different time frames
Principle ②:
Always remember Principle 1
What do I mean?
Look, the majority of individuals struggle to think effectively beyond a single time horizon.
Those tuned to short-term thinking might excel as traders, yet fail as founders and investors.
Understand your innate tendencies and collaborate with those who can balance them out.
I know a scalper who makes nearly $200K every month.
He is doing algo trading with advanced, expensive bots.
Once, he gave me an amazing piece of advice 👇
· Courage and intelligence are how you make money.
· Level-headedness and paranoia are how you keep it.
Also, I remember a guy from a top-tier crypto VC that everyone is familiar with.
He gave me tips that greatly improved my decision-making process 👇
· Stay away from the hype if you are a long-term investor.
Don’t mistake unearned attention for accrued value.
· Ride the wave if you are a short-term trader.
Sometimes, the momentum is more important than the facts.
Having a large audience doesn't necessarily mean you know how to generate income.
Never confuse winning at popularity battles with succeeding at wealth-building endeavors.
➬ Gaining followers is essentially a game of popularity.
➬ Earning money through investments requires a contrarian approach.
Typically, entrepreneurs and investors develop a "brand" as a result of their successful ventures, not vice versa.
Be wary of individuals who gather a following without any prior accomplishments.
Focus more on engaging in wealth-building activities rather than chasing after status symbols.
If you're considering investing in or joining a project, be sure you hold founders to a much higher standard when they dive into the market during a strong upward trend.
Keep a detailed information of each investment, trade, or choice.
Analyze the results and try to improve them by improving your mindset/strategy.
Find out what could be done better.
The point here isn't to achieve a single victory.
But to design a system that enables repeated success.
Hard times create strong men; good times create weak men.
This rule applies to our world and to crypto cycles without exception.
Knowing our current phase and understanding what's coming next can give you an edge.
What sets crypto apart from other sectors is the rapid access to liquidity.
This creates a significant opportunity for arbitrage.
➬ Let your "why" should be fueled by principles, not profit.
➬ Let your "how" should be fueled by rewards, not principles.
What's interesting is that unlike traditional finance or Web 2.0, established firms are a rarity in the world of crypto.
And there are even fewer established career paths.
So, whatever career trajectory you envisioned before crypto, cut it by 50%.
Before jumping on trends, consider if they even have potential.
This advice is great, yet frequently disregarded.
“Hockey-stick” growth charts might indicate product-market fit in the world of Web 2.
But in Web 3, they are frequently misleading.
Did you notice how social media thrives on sparking outrage, promoting a competitive atmosphere, and chasing after the headlines?
Such things can significantly hinder your abilities as an investor, trader, or creator.
My top recommendation – filter out the distractions and dedicate yourself to improving your skills.
The best advice I follow:
If you start to believe you're invincible, remember the market will prove otherwise.
Therefore, if you decide to gamble heavily in one part of your life, ensure the other parts are rock-solid and reliable.
Treat your emotional reserves with the same caution and strategy as you would your money, because they are just as limited.
If the crowd held all the solutions, we wouldn't see power law dynamics emerge.
Don't just accept advice from random people on the internet.
In the end:
I hope these tips will guide you toward a more fulfilling life and enhanced profits.
WAGMI 🫂
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