When most people talk about investing in crypto, they’re just thinking of buying and holding tokens on a popular exchange.
The hope is that the coins you’re holding will appreciate in value over time – hopefully sooner than later – and one day, you’ll cash out for a fat pay day!
But there’s more to it than that. Let’s dive in:
Crawl before you ball
Don’t expect to strike it rich right off the bat. You need to put in the work and do your homework if you want to last in crypto. Start slow and learn to crawl before you ball.
For the crypto newbie, this is the easiest way to dip your toe into the world of cryptocurrency.
You start by hopping on a user-friendly platform like CoinBase, fund your account with some of your hard earned cash (whatever your fiat currency is), then purchase your first Bitcoin (BTC) or Ethereum (ETH).
CoinBase signup bonus
Now you’ve got some skin in the game. This is actually not a bad place to start.
Once you have access to a major exchange and you’ve got yourself some tokens in your wallet, you now have the power to control your financial destiny and do some incredibly novel things.
Learn how to buy for you first crypto here.
There’s more to it than HODL’ing
HODL = Hold On for Dear Life
Again, most people tend to buy a coin and hold it forever with the belief that the price will shoot up one day.
While it’s possible to get in on a coin early (like SHIB when it’s trading at $0.00002 USD) and become insanely wealthy when the coin hits $2 – understand that these scenarios are far and few between.
However, there are sooo many opportunities to make some cheddar with crypto.
There’s a bazillion tokens, projects, meme coins, and more recently NFT markets where people are flipping .jpgs for insane profits.
It’s a lot to sort through and learn on your own.
A great way to break into crypto is to learn from the large communities on Discord. Alpha Access is a private Discord server that will help get you up to speed quickly.
Alpha Access Disorcd Best Value
Making passive income with crypto
Some passive income strategies we’ll cover:
- staking for passive income
- setting up nodes for passive income
- yield farming with liquidity pools
More on this soon. Stay tuned!
Crypto leaders to follow
There’s lots of great people dropping gems of knowledge on Twitters. Here’s some peeps to follow for passive income plays and to inspire strategies of your own.