Crypto Currency Investing Introduction Summary: Market State

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The world of crypto changes fast.

The Only Crypto Currency Investing Book You Need was written in 2022. I am writing this in 2024. After reading the book, I feel that the majority of what I learned is fundamental and will hold true forever, much like general principles on investing.

However, there will undoubtedly be some things that are outdated, so just be aware of that and make your own decisions.

Stocks, bonds, gold, and real estate are the four most common asset classes for individual investors, and they have all been around for more than a century.

Cryptocurrency is the first new asset class since then — ETFs, options, REITs, etc., are merely derivatives of the original four.

Cryptocurrency has already made many people millionaires, and will continue to do so. But it has also wiped a lot of people out of their life savings. In order to be one of the former, you must get educated on it.

When the financial market collapses, as it has done previously, Bitcoin and other crypto assets are protected because they are decentralized.

Sidenote from Sam: Don’t worry if you don’t understand some terms, all will be explained throughout the rest of the book.

As time goes on, Bitcoin and other cryptocurrency leaders are becoming increasingly legitimized. It is no longer just for the outliers. Big business is now investing heavily.

Sidenote from Sam: As I write this, post election 2024, there is talk of whole countries making a shift.

As blanket advice, put 10% of your portfolio into Bitcoin.

You may be thinking that you have missed the boat.

You haven’t.

Crypto is still very young and there is a long way to go. Many experts believe that in a decade crypto will be at least 10x what it is today.

But this doesn’t mean it will be a smooth ride.

Crypto is highly volatile. There will be big dips, but that should not stop you. Buy and hold, just like you would an index fund.

Like all investing, you should never invest more than you can afford to lose. This is even more true with Crypto, and even more so with altcoins.

There is no doubt that crypto is riskier than other financial products such as bonds or index funds, but not owning Bitcoin is also risky. It is volatile, but it is not going away and will continue to rise in value in the long run.

Read the next chapter here.

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