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- #105 The Crypto Edition
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Welcome to February.
This edition is all about crypto. We figured it was time. We have a crypto president. We have a government agency named after a meme coin. We have the Fed giving banks the go-ahead to provide crypto services.
Like it or not, this is the world we live in. It can’t be ignored or laughed off any longer. Crypto is here to stay. Time to ramp up our understanding.
Let’s get after it.
The Highlights This Week…
FATTENING THE WALLET 💰️
Making Cents of Crypto Basics
Expert Advice from Coinbase’s CEO
February’s Crypto 2-Do
ELEVATING YOUR BRAND 📈
Talk Crypto Like an Expert After Digesting Our Content for Your Commute
BOOSTING YOUR PRODUCTIVITY 🚀
Invest More Efficiently (and Wisely) with Today’s Hustle Hub
MAKING CENTS 💰️
Crypto Basics
Short and Sweet: Crypto is digital currency. Most people who own it use it as an alternative to traditional investments. This section will talk a little bit about how you can get involved if you’re ready to dabble.
Where can I invest in Crypto?
Through the following apps:
Coinbase: Specifically designed for Crypto Stocks (Also featured in our Expert Advice Section)
Robinhood: You can use this platform to purchase US stocks and Crypto assets. Two birds with one stone approach.
You can also download any number of crypto wallets to buy, sell, and trade.
Is the government supportive of crypto right now?
The new administration seems to have more support for it, but it remains to be seen what that support will do for both its value and utility. This month has been more volatile than usual, with most popular currencies down between 5-15% as of this writing.
How much of my portfolio should I allocate to crypto?
Crypto should be a small part of your portfolio. All good portfolios are diversified. You never put all your eggs in one basket. The same applies here. Invest what you can afford, and diversify between currencies.
Crypto has historically been volatile…why is that?
It’s largely driven by speculation, news, and lack of regulation tied to it. Bitcoin and Ethereum (the two most valuable currencies) have been the most reliable, but the market as a whole can fluctuate wildly. If you do choose to invest, again: start small, and diversify.
O.T.F.
O.F.T - One Final Thought
If you’re ready to take the plunge, it’s important to be comfortable with the ebbs and flows of the market. Do your research, put in what you can afford, and don’t panic when there are bad days (or weeks…like this past week).
But you don’t have to take my word for it. Get in touch with someone who’s been in the game for a while and pick their brain. Find out what they’re in, how it’s paid off, whether or not it’s right for you.
My older brother’s friend is the person who I turned to before I got involved. I trust his opinion. If the market goes down, I’ll read up on it and then ask him questions. If it goes up, same dance. It’s important to get connected with people that are in it to help you navigate it. Internet resources are great, but the IRL connection brings the most value.
Vibes
EXPERT ADVICE 💭
What is Cryptocurrency?
A bullet-pointed breakdown, courtesy of Coinbase. Check that out here.
WHAT IS COINBASE, AND WHO IS BRIAN ARMSTRONG?
It’s the largest cryptocurrency exchange in the US. To find out more, go here. It went public in 2021.
Brian Armstrong is the CEO and co-founded the company back in 2012.
HUSTLE HUB 📈
YOUR SUCCESS:
Get Your Timing Right - At least one expert is predicting a Bitcoin “crash.” His advice? Buy the dip!
THEIR SUCCESS:
Get Informed - People get rich off crypto all the time. Here’s what not to do if you want to be next:
YOUR SUCCESS:
Get Scam-Proof - We don’t normally give financial advice, but I feel comfortable with this one: avoid celebrity meme coins.
2-DO FOR YOU 💡
February
Set Up A Crypto Exchange Account - In my opinion, Coinbase is the way to go. You’ll need to go through a verification process and link a bank account (or Apple Pay, etc.), but once you’re in, you’ll have access to the best crypto exchange in the US. Plenty of people seem to think it’s gonna be a big month for crypto (historically, Bitcoin does well in February), so if you’re gonna play, here’s a link to sign up.
Put More Energy Into Staying Informed - Things are happening, and your investments - present and future - will be impacted one way or another. Go find sources that you trust, and put extra time and effort into staying informed (and making investment decisions accordingly).
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Before You Go!
Thank you again for joining us for another edition of OTF!
Next week, we’ll be back with February’s 2nd Edition, featuring Cool Communicator, Did You Know, and much, much more!
Community Poll 📊
Do you believe you can build a personal brand while working a 9-5? |
Last Week’s Poll Results:
DO YOU HAVE ANY CRYPTO INVESTMENTS?
YES - 75%
NO - 25%
See you next Tuesday 🤝
You are now On The Fly & In The Know.