Have you ever looked back on your time in crypto and thought "I should have done _____X_____"
I have had a fair amount of success with crypto, and I have also had my fair amount of failures as well. It got me thinking "If I was brand new to crypto and just getting started what would I do differently now?"
Thought #1: Obviously I would have put a lot more money into Bitcoin in 2014 when I first heard about it. Unfortunately, I didn't have the capital or the guts to go in big then. And If I am honest, I didn't fully understand it when my brother was trying his best to explain it to me. But you live and learn.
Lesson #1: I would't disregard something just because it was new and complex. Instead, I would take time to learn more and educate myself. By the time I got serious about cryptocurrency it was 2017 and I had missed a lot of serious growth. The good news is its not to late! There is so much potential in this digital revolution and we are still way early to the party! Get involved and keep learning.
Thought #2: Everything in crypto has matured and grown over the last few years. When I first heard about Bitcoin in 2014 it was hard to find much information about what Bitcoin is. I found tons of articles claiming it was a "scam" or a "bubble" but there were only a few articles that gave any good information about it. That is not the case anymore. There are tons of great educators, content creators, books, bloggers, articles, mentors, and training resources that you can use to gain a solid understanding of what is happening in cryptocurrency development.
Lesson #2: I would seek advice from someone who has already had success with crypto and then be a great student. Finding shortcuts, and avoiding pitfalls, is a major secret to success. Having experienced mentors can help you with that.
Thought #3: Too many times I have bought crypto at what appears in hindsight to be the exact wrong time. In the past I have listened to podcasts, or blog articles, and think "This project makes a lot of sense. I like what they are doing." Soon after I would send some money to invest in their project. This is called Fear Of Missing Out (FOMO) and it is a total rookie mistake!
Lesson #3: I now have a clear plan and strategy before I put any money into any investment!
Thought #4: It's easy to send money to a project that someone else is building, but that is not where the real money is. The people who are making the most money in crypto are the ones who are creating services that make people's lives better. The best return on investment will come as a result of the contributions we make to helping grow this industry. Why not get yourself more involved?
Lesson #4: I would have gotten involved a lot sooner! I recognized fairly quickly that I was never going to be a programmer, but I could create great resources that help average people have success with crypto. As a result I launched "Simplify Crypto" (Shameless Plug! But I would appreciate you sharing it or checking it out for yourself!)
Conclusion: So there you have it! If I were brand new getting started again these are a few of the things that I would do differently. I am curious to hear what you would do differently if you were getting started all over again knowing what you know now. Please share your insight in a comment below.