 Crypto for Individual Investors
Getting started with crypto
How to get started in cryptocurrencyÂ
Are you intrigued by and wondering how to get started in cryptocurrency? Perhaps you've heard friends or other people talking about Bitcoin, Ethereum, NFTs and the metaverse and you’re eager to dive in so you don’t miss the opportunities of this new asset class. Whether you're a complete newbie or have some experience in the crypto space, the journey to becoming crypto savvy starts with solid education. Â
Here we'll explore how to start your crypto journey through ​​intro crypto courses and ​​coaching, while focusing on managing risk, ​​avoiding crypto scams, learning from trusted sources, taking action and repeating.Â
The time tested method for getting started with crypto:Â
- Learn crypto (education and courses) - Learning without using the knowledge does very little in crypto.Â
- Play with crypto (apps, exchanges, wallets, DeFi) - Using crypto without education is a setup for failure.Â
- Repeat (continue the cycle) - Striking the right balance with Learn, Use, Repeat gleans rewards.Â
You add another “block” to your crypto savviness each time you repeat the cycle. We use “block” as a blockchain metaphor where every block of transactions added to the previous blocks becomes your own “blockchain” of experience.Â
Start Investing in Crypto in 59 Minutes or Less
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FREE Jump Start CourseGetting started with crypto crash courses
The world of cryptocurrency is vast and constantly evolving. Crypto crash courses, articles and related content are your gateway to understanding this dynamic landscape.
Crypto course tips
Choose reputable courses
Look for courses offered by trusted services, ​​experienced professionals, or well-known crypto experts. Avoid courses promising overnight riches or guaranteed profits.Â
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Focus on foundational knowledge
​Start with the basics. A good crypto crash course will cover topics like blockchain technology, wallets, buying, selling, and storing cryptocurrencies, and understanding market dynamics. We created the Crypto Jump Start Course for this very purpose.
Get hands-on learning
Practical experience is invaluable. Seek courses that offer hands-on exercises or simulations to reinforce your understanding. You must also be willing to go test things on your own. This is the Learn, Use and Repeat philosophy. Â
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Stay updated
Crypto is ever-changing. Read crypto news, listen to podcasts and stay up to date with current events. Ensure the courses you choose provide updates on the latest developments and trends in the crypto world.Â
Key Takeaway
It’s best to think about crypto as get rich slow (the same as real estate and other assets.) You’ll have moments of get-rich-quick so chalk them up as a nice bonus. If you’ve approached the whole thing as get-rich-quick, however, it will not work out in the long run. Â
Exploring the 5 zones of Crypto Bullseye
Each ring of the Crypto BullseyeTM represents a zone of knowledge that builds out from the center to the outermost zone of success. The five zones circle each other, expanding out in logical order, to help you learn mistake-free crypto and maximize returns. What's next? We recommend you get familiar with all five zones - starting with Zone 1 - so you can see there is a methodology to the content.
Getting started with cryptocurrency
Even though we stress crypto education, the first and most important step is to learn enough to get into the game. The most powerful action you can take is buying your first Bitcoin, for example. (This also holds true at all levels of investment experience, whether it’s $10, $50 or $100 - the amount doesn’t matter - and you adhere to the golden rule of not investing more than you can afford to loose.) It’s getting in the game that gives you the power. Then you can move to the next step and so on. Â
Key Takeaway
It's important to invest only what you can afford to lose and to diversify your portfolio to minimize risk.Â
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Steps to get started with crypto:
1. Get a digital wallet.
Some crypto apps look and feel like regular money apps. While there are many different types of wallets available, including mobile wallets, desktop wallets, and hardware wallets, the app itself is the wallet so when you get the app you’ll have the wallet. You’ll master the other wallet stuff as you progress.
2. Get in the game and buy some crypto.Â
Once you have a digital wallet, you can purchase crypto on an exchange. There are many different exchanges available, each with its own fees, features, and security measures. Do you already have a CashApp or PayPal account? If so, you’re 17 seconds away from buying your first Bitcoin. Robinhood and Revolut are some other options. Tap on Bitcoin, add the dollar amount and click buy. If you don’t have one of these apps, then download and get going the same way you’d set up any other account with KYC (know your customer, or your personal info).
3. Do your research and understand the risks.Â
Crypto fluctuates more rapidly than any other asset. Do your own research (DYOR) is the self-guided education component you can’t outsource. You’re not going to find an investment advisor to help you benefit from the asset class (it’s so rare we’ll call it non-existent for now). In addition to Bitcoin, there are 20,000 plus other cryptocurrencies available, each with their own unique features and use cases. Ethereum, for example, is a platform for smart contracts and decentralized applications.
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Key Takeaway
DYOR is part of your crypto education process. You’ll consume information from various sources, but you have to dig deeper and verify stuff. Don’t take everything at face value all the time.
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4. Choose how to secure your crypto. Â
Learning how to secure your crypto assets is also critical. The gift of blockchain and crypto is you get to control your own assets. I don’t understand why anyone wouldn’t think this is awesome. It’s what we’ve all been waiting for: to put more power in the hands of the people. Nonetheless, if the thought of controlling your own assets doesn’t resonate, then you don’t have to choose self-custody. Getting started with crypto means you’ll progress from using an app to store crypto (the place where you bought it is the place it resides) to Web3 wallets and hardware wallets.Â
The role of crypto coachingÂ
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Having a crypto coach is like having a mentor by your side, guiding you through your crypto journey.
Here's why crypto coaching can be immensely beneficial:
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Everyone has a coach.Â
Rafael Nadal, Jerry Rice and Michael Jordan are examples of the best of the best in their sport. They all have coaches and no one stops needing a coach. Success in crypto in no different. Everyone has holes in the way they operate and even crypto OGs make mistakes. A crypto coach helps you get up to speed 32X faster so you can seize opportunities without making mistakes.Â
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Continuous action.Â
The number one key to success in crypto (and all things in life) is starting and taking consistent action. Even highly motivated people think they can slog through to success on shear self-discipline. While good self-discipline is necessary, there is also a limit and this is where coaching comes into play. Warren Buffet said his biggest investing mistakes involved NOT getting into action to take advantage of opportunities. He doesn’t talk about mistakes investing in the wrong thing, but rather not taking the action.
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Accountability.Â
Having someone to report to can keep you disciplined. Education is the key to getting started with crypto. Remember the Learn, Use and Repeat mantra. A crypto coach adds in extra secret sauce for being successful in crypto. In Crypto Bullseye Zone terms, the mantra would be Get coached, Learn, Use and Repeat. Coaching provides value by helping people get savvy and avoid mistakes so opportunities don’t get missed.  Â
Key Takeaway
Coaching is a multi-billion dollar industry and now you can find a professional coach for anything you can think of like weight loss, purpose in life and book writing. Crypto coaching gets you up to speed but it’s NOT investment advice. You choose where to put your money. Nadal’s coach doesn’t hit tennis balls for him, but rather helps him prepare where, when and how hard to hit the ball.
Avoiding crypto scams and pitfalls
The crypto world isn't without its share of scams and pitfalls. It's crucial to be vigilant and cautious. Bad actors flock everywhere, including crypto, but you can steer clear by getting a good crypto education. You take a risk every time you drive a car or walk across the street. Risk is everywhere, but we minimize it and proceed anyway.
Here's how to avoid crypto scams and pitfalls:
Spot phishing scams.
Be cautious of unsolicited emails or messages asking for your private keys or personal information. Legitimate organizations will never request this information via email or social media.Â
Research your projects.
DYOR before investing in tokens, projects or DeFi protocols, for example. While this may be easier said than done, it starts to happen automatically from education and staying current with news and podcasts. You start to get a sense for what is authentic and genuine and how to manage risk.Â
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Secure your assets.
Use reputable wallets, enable two-factor authentication (2FA), and consider hardware wallets for added security. These are examples of the important stuff to learn in crypto as they are the building “blocks” of your personal growth.Â
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Trust your gut.
If something seems too good to be true, it probably is. Avoid schemes promising guaranteed returns or investments with no risks. I’ve seen so many people get sucked into obvious scams, but they lacked the basic level of finance and investing sophistication. Â
Learning crypto from trusted sources
In the crypto world, knowledge is power, and reliable sources are your best allies. Rely on:Â
- Official websites - Always visit the official website of a cryptocurrency or exchange for accurate information. Bookmark sites and refer to link trees for official links. Rushing can land you on a domain spoofing site.
  - Community forums - Engage in or read discussions about projects by joining their Discord server, for example. There’s no better way to find​​ social cred than reading the chatter about projects. You’ll get the good, the bad and the ugly.
- News outlets - Follow reputable ​​crypto news outlets like Coindesk and Cointelegraph to stay updated on market trends and developments.Â
Your journey into the world of crypto starts with education from trusted sources. Whether you opt for crypto courses , coaching, or an all-inclusive membership, gaining knowledge and staying vigilant against scams are your keys to mistake-free and successful crypto endeavors. Embrace the crypto world with confidence, armed with the wisdom to navigate its challenges and reap its rewards.
As always your goal is to get a Crypto Bullseye™.
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Why Crypto Bullseye?
While most crypto education focuses on what to do, Crypto Bullseye includes what not to do so you can avoid expensive crypto mistakes.
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