I see tons of people get wrecked when they invest in crypto without a strategy. They do very little research and just fall for whatever hype some turd is peddling on Twitter. Please don’t be that person (or try to change if you already are)!
In this post, I’ll give you the five best cryptocurrency strategies that I learned from studying crypto millionaires. I’ll let you know my personal strategy at the end. Read through and choose JUST ONE that makes sense to you, then go deep into it for months on end.
Choose a few coins in that direction. Dedicate some study before you invest and you will be light years ahead when you are laser focused. I have a crypto study guide here. That is the second layer to your strategy. Here we go!
1. Focus on One Niche to Find Value
In this video, I cover the idea of crypto niches and go through a big list. Pick one of these sub industries where you have experience, have a related hobby, or that interest you. This might be considered a kind of value investing approach to crypto.
2. Focus on One Blockchain and its Coins
Do a survey of the cutting edge blockchains out there, or maybe a framework such as Cosmos / Tendermint. Focus in on one that sounds promising to you. It is best if it’s fast, cheap, being used on a large scale, and energy efficient. Some examples might be: XRP, XLM, XDC, or ALGO, among others. I would avoid proof-of-work coins such as Ethereum since they are slow, energy wasting, and expensive.
Then, research the many new cryptocurrencies that are being created on top of those blockchains. Again, just keep to one blockchain. Browse through Twitter, Reddit, Discord, and Google for your research. Use my crypto study guide to filter out some good ones that you feel will bring value.
3. Buy a First Layer Coin to Score Airdrops
This is related to the last strategy and could be combined. Focus on one or two chains at first. Many of these established blockchains and projects will airdrop free crypto for a new project being built on top of it. Airdrops are sort of like stock splits from the old investing world, but be aware. Airdrops can be a cesspool of scams.
Be careful about giving out personal information. Some airdrops want you to do some light promotion such as tweeting, following, or sharing something. That’s not a big deal. But, please don’t give out any info or send your coins somewhere. That’s a scam!
4. Focus on Staking and Passive Income
Staking and farming coins for transaction validation / consensus can bring us consistent, free crypto coins. You can either focus on blockchains, lending websites, or other projects for this line of research and investing.
The recurring point of this post is to focus on one of these tactics and research deeply. For staking and farming, the reviews of others is vital.
5. Fire up a Node or Validator
For you developers, there are a ton of avenues for nodes and validators. Mining is another topic which might be lumped in here. Many blockchains and DeFi projects allow people to set up servers that help verify transactions.
Then, there is a payout in crypto, usually from the transaction fees. But, there are a ton of models out there to research. From what I read, it’s a challenging and rewarding project to try.
Conclusion on Crypto Strategies
I hope this gives you an idea for a crypto investing strategy that matches you. Maybe one or two stuck out, so research heavily. The opportunities are vast and the growth potential is major in the space if you dive deeply. We are still early in adoption in 2022. Decentralization and blockchain continue to expand into many industries.
Please research for at least a couple weeks before you commit to anything. Start small, see how it goes, and gently push your comfort zone. If you listen to hype and start feeling a time constraint, you are on the WRONG path. It is called Fear of Mission Out (FOMO) and can cost you a lot of money.
Turn off the time wasting stuff like TV, games, and movies (for a little while at least). Do some crypto research down one of these avenues and you will help your future immensely. Good luck and be suspicious!