Undoubtedly, the crypto trading industry is a promising and profitable one. However, just like in every industry, there are also some risks involved in crypto trading. This is why every beginner must seek advice from experts before venturing into this sector . This article provides top expert advice for beginners in the cryptoshere.
All experts advice in this article where extracted from the book “The Crypto Factor: Peek into the minds of insiders and discover what it actually takes for you to succeed in the cryptosphere.” Read on.
Five expert advice for beginners in the cryptoshere
Invest in education and skill
Most people rush into a business without the right knowledge, education and skill. Instead, they want to earn profit and forget not to remember that all that glitters isn’t gold.
In the crypto industry, there is a process for everything. This is why crypto expert Andreas Antonopoulos (The voice of Bitcoin) opines that the best investment in the crypto world is investing in your education and skill.
According to him, “The most important investment you can make into Bitcoin or other open cryptocurrencies is an investment in education and skills. And the important reason is that this is a technology, and as a technology, a skillset can lead to building a career. Not just for software engineers but for any industry that touches Bitcoin directly or indirectly. No one can confiscate those skills and take them away from you. You can’t lose them in a wallet accident or get scammed out of your skills. So skills and education, to me, are the biggest investment you can make in this space.”
According to renowned crypto leader Nicholas Merten, one of the best ways to succeed in the crypto industry is by starting small. Like other industries, you need to go through the product testing phase. Then ensure that you are channeling your investment in the right direction.
This is what he has to say, “The thing I recommend you do, though, is that whatever trading strategy you take, start with a small amount of money. Say anywhere from maybe a hundred to five hundred dollars. It is about assessing and doing a little bit of testing yourself. Try to see if you are a personality type that can stay disciplined which is the biggest part of trading.”
Network and join a team
Another top expert advice for beginners in the cryptoshere is networking. The importance of networking cannot be overemphasized. This is one industry where no one succeeds as an island on its own. Therefore, if you want to become successful and stand out in the years to come, you need to network.
Crypto trading leader Josh Rosenblat, while emphasizing the importance of networking, urge beginners to get into a team. “Try to get onto teams. Try to work with people. Meet people. Have as many conversations as you can. The community is very open and welcoming. What you need to do is just try. A lot of cities have meetup groups where a lot of these conversations are happening. “
Start as a volunteer.
This might sound awkward to Millenials who lwants to make money fast without following due processes. However, you must keep in mind that today Millionaires were once volunteers. It didn’t just happen. Try working with getting a mentor and learn from them for a while.
According to JR Willet, doing this helps you build the right network that empowers you with the right skill to succeed. “I always have the same advice for people who want to work in the blockchain: start by volunteering your time for a project you love. Make yourself indispensable to them. Then you will be very well positioned to be hired. That’s how Omni hired all their developers. When we got funding, we simply started giving salaries to the volunteers who were already working on the project.”
Make lots of research.
Crypto strivers who want to succeed against all odds must be ready to research and stay updated with the latest trends. Supporting this point, crypto expert Naomi Brockwell said, “I recommend that they do a lot of research and know what they’re getting in for. Then if they want to get involved in something that interests them, I can give them tips on what to do. But I am careful not to push people into anything in particular. This is a new industry, and we don’t know what will happen, and it’s incredibly risky. I think that there’s a lot of noise out there, though. People are pretending that they know a lot about an industry which just hasn’t been around for long.”
The crypto market is a new and competitive one. As a new crypto striver, it is vital to heed to the top expert advice for beginners in the cryptoshere. This is for people who want to stand out and get a high return on your investment. Unfortunately, there is no magic to succeeding in this highly unregulated industry.
However, using the tips and tricks for experts listed in this article, you could become a top crypto leader in the next few years. To find out more on how to succeed in the crypto industry, do take a look at other books and podcast by