Not long ago, cryptocurrency investment was the domain of fringe conspiracy theorists mining in their mom’s basement. Today, it is viewed by many as an important way to diversify investments and build powerful streams of income.
Smart people creating Indestructible Wealth know that they need to diversify their income at an early age, and crypto investment is an essential part of that effort. The problem is, with all the jargon, wallets, exchanges, and the sheer number of coins now on offer, crypto investing is a total minefield. (Yep, I went there.)
Whether you’re ready to go all-in on crypto investing or just want to dip your toes, there’s one essential to getting into this game: a solid cryptocurrency coach. You could literally spend years playing catch up on all you need to know in order to effectively start building wealth with crypto. And by the time you did that, all the rules would have changed anyway.
The crypto landscape is changing at the speed of the internet. As your cryptocurrency coach, I can save you time and a ton of money by showing you the ropes and helping you get it right the first time around.
Getting Started With Crypto Investments
I like to say that people lose money on investments because they don’t understand what they are investing in. They don’t understand the market, the product, or the reasons for its ups and downs. When they see high highs or low lows, emotions get the best of them, and they lack the discipline to stay the course, or “hodl” as it’s called in the crypto world.
Investing in crypto is a little bit different. The blockchain, the technology behind some cryptos such as Bitcoin, is a complex tool, and the details may be difficult to wrap your head around. The blockchain is an online ledger that tracks every single exchange of Bitcoin that has ever happened. If you give your niece $50 in Bitcoin for her birthday, or if you buy a train ticket in Paris with Bitcoin, those transactions are forever lodged into the blockchain. As strange as this may seem, this facility is what allows Bitcoin to be totally transparent and makes it impossible to corrupt or manipulate it.
It is certainly useful to understand the ins and outs of blockchain technology as an investor in cryptocurrency. The question is, is it essential to have that understanding? My answer is no. However, it is important to understand the adoption rate of any crypto you are considering investing in.
Take Bitcoin, for example. What has happened historically when the price of Bitcoin drops? Invariably, we see additional adopters jumping on the bandwagon. More and more major retailers—Etsy, Whole Foods, Starbucks, Amazon, and Home Depot, to name a few—accept transactions made in Bitcoin. Major Banks Like JP Morgan Chase now facilitate Bitcoin trading.
Once mainstream players begin to adopt a technology, you know that it is a safe asset class that is not going anywhere. Does this mean that all cryptos are worth investing in? Of course not. Does it mean that even the big coins like Bitcoin and Ethereum are absolutely safe? Well, nothing is absolutely safe, but it does mean that crypto has been vetted as a transactional medium and is here to stay, in some form at least. A coach specializing in crypto can help you spot opportunities, mitigate risk, and stay multiple steps ahead of those who are merely gambling.
Why Altcoins are Set for Explosive Growth
There are a ton of questions in the minds of those who don’t understand the fundamental value of the blockchain. For new investors in crypto, a cryptocurrency investment coach is invaluable. They can address these questions and help you cut through cryptocurrency myths and misunderstandings. They have the long view and can help you understand the nature of crypto, why you are investing in it, and why you should hold onto it when there’s a dip in value.
People are willing to pay for things that make their lives easier. When you need to make an appointment at the dentist, do you pull out a 5-pound phone book? When you need to travel to a new place, do you pull out an atlas or a physical map? When you need to book an airline ticket or a table at a restaurant, do you dial a phone number? When you want to see photos of your high school best friend’s new baby who lives across the country, do they mail you the photos? I’m guessing that the answer to all of these questions is a resounding NO. Of course, you do all of these things and many more on a device that fits comfortably into your pocket. Now, you probably paid upwards of a thousand dollars for that device, and you probably pay at least a hundred dollars per month for the privilege of being able to use it wherever you go. That is the price that you’re willing to pay for the convenience that device affords you.
Now you may be asking what this has to do with cryptocurrency. While it may be counterintuitive, an investment in cryptocurrency is not about hocus pocus or buying cute tokens that were created out of thin air. The blockchain, the software that allows us to mine, spend, receive, and trade cryptocurrency is a technology that will revolutionize our lives in the years and decades to come.
What happened when Microsoft revolutionized spreadsheets and word processing? Or when Ray Kroc revolutionized the fast food hamburger? Or when Google revolutionized search? Or when Uber revolutionized the gig economy?
The answer: Your life got easier/better, and the people behind these innovations got rich.
An investment in cryptocurrency, and thereby in the software that powers it, is an investment in a technology that will increase productivity and alleviate many problems. The blockchain has the power to revolutionize real estate transactions and recordkeeping across virtually every industry. It can reduce or eliminate merchant processing fees, saving every single person money with every single electronic transaction they make. Most importantly, crypto takes the power away from centralized authorities and puts it in the hands of the people, where it belongs. Inflation robs you of wealth that YOU generated with your time, your mind, your labor. Cryptocurrency is not subject to central manipulation, so it truly belongs to every single person who owns it, and to no one else.
Now, this doesn’t mean that every altcoin is worth investing in; far from it.
Staying on Top of New Crypto Investments
All coins apart from Bitcoin are collectively referred to as “altcoins.” When my team and I research a new coin to invest in, literally hundreds of hours can go into vetting the project. Who is behind the launch of the coin? What will the coin be used for? What problems does it solve that have gone unaddressed by other coins? How will blockchain technology improve the industry that the new coin is serving? Is there even a true purpose behind the issuing of the coin (except lining the pockets of those who created it)?
Does the crypto have a finite amount that will ultimately be issued? Has much of it already been scooped up by a few big players? Or does it have room to grow? How decentralized is it? Who exactly is behind the issuance of the crypto and what are their goals?
All of these questions and more must be answered before I invest in a cryptocurrency. If too much of the coin is already owned by a few major stakeholders, there is too much room for them to manipulate the price. If there’s ultimately no value of the blockchain technology to the particular industry which the coin claims to serve, then the crypto will ultimately be worthless. If the strategic team and partners behind the coin have goals that are at odds with yours, you don’t want to support them by investing in their coin.
Choosing cryptocurrency to invest in is far more complicated than choosing stocks on the stock market. Unless you are interested in gambling rather than truly growing wealth, any and all altcoins must be vetted before investing in them.
While you are learning the ins and outs of crypto investing, you probably don’t feel qualified to do this sort of research. That’s where a cryptocurrency investment coach comes in. I don’t endorse any coin that I don’t invest in myself. My mastermind group has access not only to the names of the coins I put my money into, but they also get the research behind this decision. In other words, I’m putting my money where my mouth is. As a diligent and honest cryptocurrency coach, I couldn’t do it any other way.
Making Passive Income from Passive Income
We expect the truly valuable crypto to continue to rise in value. This doesn’t mean that there won’t be some rough terrain along the way, but the overall trend will be an increase. And while your crypto is accruing value, you don’t just have to sit there passively. You can put your crypto to work so that it generates additional revenue while you hodl. A coach specializing in crypto will show you the power of cryptocurrency investment.
Holders of cryptocurrency may decide to either stake or lend out their crypto on an exchange. Each tactic varies slightly, and each has its strengths and weaknesses. A good cryptocurrency coach will help you understand which is right for you—or rather, which tactic to apply to each crypto that you hold.
Here’s a quick breakdown of the differences between staking and lending crypto:
Staking allows you to lease your crypto investments to the blockchain. While miners dedicate computing power to the blockchain, stakers dedicate their coins for a defined time period, meaning that they can’t trade or cash them out during that period. Their investment helps to secure the blockchain network. In return, stakers get higher interest rates than lenders do, and they get these rewards without having to invest in mining hardware or pay for the electricity used in mining.
Lenders, on the other hand, lease their crypto to other borrowers and get a smaller interest rate than stakers; this is no different than the interest you get when a bank lends out the money in your savings account. Lending crypto is simple and low risk and provides assistance to those who might not have access to traditional sources of capital.
All of this requires some know how, and your cryptocurrency investment coach has the answers. There are various platforms, approaches, and limitations to both staking and lending. If you’re aware of the advantages and disadvantages of each, you can build your portfolio with these in mind. And a cryptocurrency coach can guide you on that journey.
Taking part in the crypto revolution means that you are actively supporting the process of removing power from nameless, faceless corporations and taking it back into your own hands and the hands of your neighbors. Currently, banks pocket an enormous quantity of the “spread,” or the interest generated by your money when they lend it out. They have that power, because until now, they’ve been the only game in town. Crypto is disrupting the vampire banks’ control of your money.
I should also mention here that it is even possible to borrow against your crypto. This move requires caution. I advise my mastermind group to limit their borrowing, if any, to around 20% of their crypto holdings, and then only to invest in certain opportunities. NEVER do I EVER advise anyone to borrow against their crypto to buy more crypto.
Join Our Cryptocurrency Investment Mastermind Group to Create Indestructible Wealth
One of the best investments I’ve ever made is in helping the next generation get their heads around crypto investing. Decentralization is an inevitability, and we’re taking the ride to wealth sovereignty together.
I hope this article has helped you understand how I, as a coach specializing in crypto, can help you to achieve Indestructible Wealth. I’d love to be your guide in taking control of your own wealth creation by introducing you to the ins and outs of cryptocurrency investing. Keep in mind that as your coach, I’m not here to do it for you; rather, I’m here to lead you to accepting responsibility for your own wealth. I show you how to invest in yourself first—and then into cryptocurrency!