This guide will teach you everything you need to get started with trading early-stage crypto assets. We will focus on the Binance Smart Chain, a low fee protocol that allows investors to invest small amount and see potentially explosive returns.
The guide is split out into a number of parts, each covering essential information you will need to begin profiting from the current crypto boom.
This guide is meant to be lightweight, and will frequently other, more comprehensive posts on important topics.
Core Principles
Before you get started with early-crypto trading, you should understand some core principles.
- Only invest what you can afford to lose. Early-crypto is perhaps the highest risk asset you can put money in
- Early-crypto is 100% speculation
- I use the term investing very loosely here, it's more like gambling
- The difference between gambling in early-crypto and at a casino, is in early-crypto there is no 'house'. If you know what you are looking for, you can beat the odds and see insane returns.
- The only advantage you have is being earlier than other investors. Getting ahead of the herd is everything.
- Never invest more than 5% of your overall allocated cash into a single asset. Your attitude needs to be that 9/10 of your positions will go to 0. The 1 that succeeds will succeed so massively it will make up for the losses.
- ADHD is an advantage in early-crypto. You need to be constantly checking your positions, digging out new coins. Rabbit holes are your friend.
- To do well in early-crypto you need to dedicate a few hours a day to it.
- Teaming up can be a fun and efficient way of navigating this space. We've seen success with splitting up roles. One hunts, one checks and one trades.