BY SIR JOHN HARGRAVE, JUST BEFORE HE DISCONTINUED HIS CRYPTO NEWSLETTER SERVICES
Some Key Crypto Investing Principles
[Excerpts]
Stick with large, proven crypto projects. It’s tempting to get caught up in the hype of 13,000%+ returns, but no one can predict these long-shot winners, any more than you can predict a winning lottery number. The two biggest, battle-tested crypto investments are bitcoin (BTC) and Ethereum (ETH), so we start there. If you want to diversify beyond those two…
Avoid fees. Crypto was supposed to free us from fees, but the fees in crypto are worse than ever, hidden in devious ways. Unless you are diligent, these fees will eat into your long-term gains, so you must be careful about selling, swapping, or even moving your investments between platforms. The less you use your crypto, the more you’ll save in fees.
Bet on future winners. Much of our work… has been making sense of the millions of crypto projects, identifying key categories that will produce long-term winners. For example, Ethereum is the clear leader in smart contract platforms, Binance is the clear leader in global crypto exchanges, and Uniswap is the clear leader in decentralized exchanges. Category leaders are pretty good long-term bets.
Put your crypto to work. That said, staking is like earning interest. So rather than just letting your crypto investments sit idle, you can stake them to earn a little bit of additional income. (True, you’ll pay tax on the staking income, but you’ll still come out ahead.).
Avoid “free money.” ICOs, token drops, play-to-earn: your time is too valuable for that nonsense. Invest real money in, and you’re more likely to get real money out.
Think long-term. The billionaire investor Kenneth Fisher said, “Time in the market beats timing the market.” That goes double (or 10x) for crypto, where the returns for patient, long-term investors have blown away the returns of traditional investors.”
Author: Sir John Hargrave
Source: BMJ
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