Cryptocurrency Investing

Why I Started Cryptocurrencies Investing

May 03, 2022

And Why do i even do YouTube Videos on Crypto Investing as a Newbie to Both?

It just happened...

One day, I woke up and declared to my wife, that I am quitting my job and i need to get into Crypto Investing. That was some time after Beeple sold his Digital Art for $69millions USD (Year 2021)...

And i strongly believe that i can even make a living just by investing. Total Financial Freedom to Do What i Like for the rest of my life. (Relooking at my life paths on Active Income and Passive Income with Robert Kiyosaki's Rich Dad Poor Dad ESBI).

I like to help people too, but of course, it can't be at my own expense. Thus doing YouTube Videos is one way that i can achieve this goal, expanding my reach, and setting up a passive income stream.

Good thing, i consider myself a minimalist. Don't really need any worldly possessions aka branded goods and i don't like alcohol, liquor, and smoking. So, Boring Me. 😄

I didn't even bother to get a driving license because it is so convenient in Singapore, almost everything i would need is within walking distance, including a hospital that is just a 10mins walk away.

My Home is the Best Place for Me to Live, Work, Eat and Sleep. (Best is always Subjective 😉)

I am Not a Financial Advisor or Professional

I finally see the potential of wealth leverage that crypto has.

I wasn't even a trader of any kind, never trade Forex, shares, commodities before. Know-nothing about options trading, day trading, etc. But i just knew i have to be in after missing out for so many years.

Quite sure many regrets: "If only i had bought some Bitcoins in 2010, even $10 would have made me a millionaire last year..."

While the content here may be considered financial advice by some, even myself to a certain extent, they are simply my personal experiences and opinions. Always Do Your Own Research (DYOR). Nobody but You, yourself is responsible for your own wealth.

Had to do the above disclaimer as required from somewhere... 🤣

Trading is All About Timing - Buy The Dip

"Everyone is a genius in a bull market."

I started investing last year, July when Ethereum went down to $1,800USD. At that time, i didn't even buy any ETH but was able to 4X my initial investment of $2,000USD.

I even told myself that i'll HODL (Hold On Dear Life) my tokens for a year. And I did, losing all my gains as of this post, May 2022.

Could have made a decent 2X profits when Ape Coin was at $12 2 weeks ago before the Bored Ape Yacht Club's The Otherside land sale. But i didn't as i was on a break, and did not want to put in more money at that point in time...

I felt like i need to go through this "mini-Bear" market to experience and understand the mental, emotional, and psychological impact as well as the loss of opportunities, misjudgment, and nature of the market.

And the fact that i know this will be my smallest portfolio ever before i get serious...

Crypto Investing was more Psychological than Practical

Cryptocurrencies that have no practical usage can outperform Cryptocurrencies that do.

The biggest example is actually BitCoin itself, It is known as the Digital Gold before its Lightning Network introduction and countries' adoption. By itself, it could only process about 7 transactions per second - Imagine the queue it can cost for people to use it around the world.

A more popular example would be a Meme coin like Doge or Shiba Inu. Doge didn't have any usage until Elon Musk, and it even started off as a joke.

It is a market that's traded on hype and narratives, having nothing to do with the actual performance of a token with real-world application.

2 years ago, someone bought $8,000USD of Shiba Inu in 2020, and it was worth $5 billion in just one year. Such is the Leverage and Volatility of Cryptocurrencies.

"Follow The Money", so do Criminals

Because of the profitability and lucrativeness of Cryptocurrencies investing, it has also attracted lots of bad actors - scammers, hackers, phishers, etc.

One of the most memorable reactions to a "rug pull" where a Squid Game Meme Token price went from a few cents to $2,861 in a few hours and back to $0 in an instant...

Crypto Criminals range from high-end organized mafia with a full suite of movie-level "props" and catching the latest trend, to low-end blatant robbers, tricksters, or impersonators with a poorly designed website, or simply private messaging you a god-given, but time-limited opportunity to you, the lucky stranger out of nowhere.

P.S. Haven't done as much as i would like to, especially YouTube Videos as i am too ambitious for my own good 😝, chasing multiple rabbits at the same time.

A reminder to my readers, a "Yes" to 1 thing means a "No" to a lot of other things. It is hard for someone who spent 4 hours on 2 things to be better than someone who spent 8 hours on that 1 thing every day.

Choose your expertise wisely.

I can chase more things because I had years of preparations - going 40 soon. I live my life intensively - every second counts, sleeping an average of 4hrs every day for more than half my life. And I am very low maintenance.

Lastly, Stay Prioritized or Passionate about Doing What You are Willing, without considering the Worth in Returns like an Unrequited Love :P