Cryptocurrencies are the future of digital finance. They will form the basis of all social transactions in the metaverse and real life. However, most people become frozen in space & time when they think of crypto investing.
This article stems from a conversation with a senior officer the other day. We talked about the housing market, saving for down payments, and an eventual market downturn.
He told me he was saving all his money for a down payment in a money market account, potentially earning one percent interest. I mentioned my love of USDC stable coins on Voyager (affiliate link), making me 9% safely.
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I could see him becoming uneasy as I mentioned “cryptocurrencies.” Thus, I am writing this article. People are missing out on massive returns because of this crypto-fear. I’ll help you assuage your reservations.
How does this fear begin? The fear of cryptocurrencies comes from the unknown—many different terms and techniques come with crypto.
The main problem is that you can enter a conversation at a random moment and be completely clueless. It’s similar to stock marketing investing because multiple conversations are all happening at once.
For example, you have people investing for capital gains, retirement, dividends, day-trading, and options trading in the stock market. Everyone has a different goal, and they are all talking to you about how their method is the best.
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Crypto is very similar in this manner. People talk about new coin offerings, chasing capital gains, investing for interest, decentralized finance, and leveraged loans.
Clear the noise. The only way to clear all the noise around crypto (and the stock market) is to read and understand the various conversations. Once you know the different methods and objectives, you can choose which one fits your plans exactly.
Don’t worry; I started in the same place as you. I was lost and tried to shut down the conversations completely. Luckily, my good friend at work was a huge “crypto guy.”
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We talked for hours on end at work, and I was able to learn via osmosis (absorbing information). I told him to start a blog so that simple people like me could understand and follow crypto. He never did, so I took up that responsibility.
Before writing my articles, I needed to read and invest in crypto. So I read books on Bitcoin, Ethereum, and Non-Fungible Tokens. Then, I opened my Voyager account and started earning interest.
I eventually read two books on Decentralized Finance (Beginner, Advanced) and another on NFTs. I decided to keep my crypto investing on Voyager for now. Mainly I concern myself with earning interest and building passive income as an investor.
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Eventually, when I have time or retire, I can invest more heavily in DeFi and the metaverse. Time is fleeting, and I have to focus on my book business for the foreseeable future.
The long and short. All this is to say; I read many books to get comfortable with my crypto investing. I can easily stash my cash in USDC stable coins because I know its purpose in the crypto-verse and DeFi.
It’s challenging to invest in something you know nothing about and harder to overcome the fear of losing money. The best way to overcome fear is knowledge.
I believe USDC is the best investment option on the market. To understand it, you have to understand the usage of this tool. Why is USDC so important? Who is investing in USDC, and why is it in high demand?
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If you can answer these questions, you’ll understand why I love it so much. So how do you get started on your path of learning?
An excellent place to start. The best place to start is with my book “Counting on Crypto 2 (pdf).” This book contains every article I have written on crypto over the last 12 months.
Read this book to get a general overview of crypto and the importance of DeFi. If you can see the value of DeFi, then you will see how it will overtake traditional finance (TradFi) in 20-30 years.
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This will help you form your investing thesis. An investing thesis is yours and yours alone. It is the reason why you invest in a particular product or service.
For example, my investing thesis for USDC may differ from that of Bitcoin. The same as investing in Pokemon Cards versus Gold. One may give me better short-term coverage, protection, or capital gains over the other; however, they both fit nicely in my portfolio.
You read books to formulate an investment thesis for your future assets. I read a book on “Investing in Fine Wine,” but I also learned I need $100,000 to get started with a decent collection.
After reading my free book, move on to the other books I listed above. There is no rush to jump into the markets. Don’t let FOMO (fear of missing out) push you into a bad situation.
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Conclusion. “Only you can prevent bad investing.” Investing is not about getting rich; it’s about making your money work hard for you, just as you work hard for money.
The best investment is the type that allows you to sleep at night. I have my own investing method that I know purists would not condone. But it’s my style and, more importantly, my money.
Read, write, and teach your family and friends about crypto and you will build the confidence you need to enter the markets. Crypto has something to offer everyone if you can create a robust investing thesis. Enjoy!
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. All Right Reserved Military Family Investing
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