The single most important thing you need to survive in crypto, is to have a strategy.
Far too many people haphazardly find themselves in the crypto space without taking the time to write out a strategy or have any clear goals for what they’re trying to achieve. There might be an abstract idea like “to make money” or “to get rich” or “to quit my job” or “to experiment with new technology” or whatever, but rarely does someone write down their plan or goals for being in crypto.
It truly doesn’t take long to create your strategy, and I am convinced it will have the longest and most positive impact on your journey in terms of the time you put in compared to the value you’ll receive from it.
Everyone is different, and everyone is going to have a different plan and strategy, so I can’t tell you exactly what yours should be - but I am here to help guide you to figuring yours out.
If you’re a parent with a full time job and 3 kids, you’re not going to have 60 hours a week to gamble in the crypto casino and would almost certainly want a hands-off, low-risk, approach.
If you’re a 19 year old, still living at home, with a part time job, and a lot of disposable income, and a high risk tolerance - you might want to take an approach where you’re spending every waking minute trying to maximize your opportunities in the space and knowing that even if you “lose it all”, your ability to bounce back and start again is not destroyed and you’ll still have a roof over your head and food on the table.
There are 4 key components to formulating your strategy: Goals, Risk Tolerance, and Time Availability. We’re going to look at them one by one and then put it all together with your overall plan ⤵️