Book Review — Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs, and More | by Stephen Dalton | Mar, 2022 | DataDrivenInvestor


Book Review — Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs, and More

Investing in cryptocurrency is new to all of us. Think about it. Just 12 years ago, there was no such thing as crypto. I have underwear older than that.

Crypto Buying Guide Amazon Cover

Introduction to the Crypto Investing Guide

When Satoshi Nakamoto, Nick Szabo, or whoever was ultimately responsible for creating Bitcoin released their ideas into the fiscal populace in 2010, it created an entirely new investing opportunity. It was one that has made several ( possibly hundreds or thousands ) rich beyond their wildest ambition. Why not you? Think about it like wanting to become a automobile mechanic. The first thing you ’ ll motivation is a toolbox. Think of this book as a screwdriver. not the one you drink but a all-important joyride you ’ ll use again and again.

The Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs, and More by Ian Balina and the Token Metrics Team is available on Amazon for $8.99. I got mine with Kindle Unlimited. Of course, there ’ sulfur besides the option of getting it on Amazon Audible Plus. A new addition to KU that I love is detached reads of magazines. I can “borrow” People, Reader ’ south Digest, Bloomberg ’ south Business Week, Better Homes & Gardens and others for one low price per month. Sorry, I had to chase that rabbit down the hole. now, back to your investing usher. I borrowed it on KU, but I bought the paperback version to keep on my desk for quick reference point after I read it. I wish I had had this record before I started investing in crypto. When I first started investing in crypto, I precisely bought any everyone was “hyping” or “pumping,” gratuitous to say, I suffered a few losses, even though the crypto market was going up, my investments were going down because, by the time I heard the ballyhoo, the mint or token was already at or near an all-time high ( ATH ) .

Most Essential Sections to Read & Understand

not every chapter is essential to the buy-and-hold or hold-on-for-dear-life ( HODL ) investor. Like the chapter on NFTs. I didn ’ triiodothyronine even bother to read it because I was not interest in NFTs. I suggest reading these proper off, and then reading the others later if you are concern .

Chapter 1 — Introduction to Blockchain and Cryptocurrency

It is essential to understand blockchain to know if your cryptocurrency choice is a good stick out or not .

Chapter 2 — How to Use and Store Cryptocurrency

Ian explains how to store, hold, send, and meet cryptocurrency in this section .

Chapter 3 — Securing Your Crypto from Hackers

To me, this is a little out of ordain. You should have a “ cold wallet ” before you buy any cryptocurrency. It only takes a few seconds or minutes for a hack to occur. If your coins or tokens are there on the exchange, they could be stolen. “ Ten percentage of all mined BTC has been stolen. Read my article, not Your Keys, not Your Crypto ( NYKNYC ). then, buy a Ledger Nano X to store your private keys .

Chapter 4 — Introduction to Value Investing

Chapter 6 — Building a Portfolio

Chapter 7 — Introduction to Fundamental Analysis (FA)

After you understand crypto and how to store it, FA is crucial to making money buy and deal crypto. This chapter goes into learn and using charts. To me, there may not be a more crucial skill than reading charts and FA. however, you might want to check out some YouTube videos on the national .

How To BEST Read Cryptocurrency Charts

This YouTubew video was created by one of my front-runner v-loggers, BitBoy Crypto.

Chapter 9 — How to Evaluate Crypto Technology

Chapter 10 — Introduction to Token Sales: ICOs, IEOs, & IDOs

ICOs are either the best or worst time to buy. typically, everyone wants some when the coin or nominal is released, but it could already be excessively late to profit. DO NOT bargain into the ballyhoo and the fear-of-missing-out ( FOMO ). It is better to leave it alone and wait for the hype to end and buy at what will likely be a lower price. It will inescapably drop back when the whales and early elitists sell .

“ The term “ whale ” is used to describe an individual or organization that holds a large amount of a particular cryptocurrency. There is no claim shortcut brink for this definition, but some say a Bitcoin whale should hold at least 1,000 BTC. ” — Binance Academy .

however, some exchanges offer an opportunity to buy tokens before they are listed. BitImage wrote a Medium article about this service hera : indeed, on some exchanges, you could get coins or tokens before the Initial Coin Offering ( ICOs ), when they are hush a bargain. typically, the ICO is either the best clock time to buy or the worst. many whales and others with boastfully money are able to buy altcoins and tokens before they are released to the populace at the ICO. then, during the ICO, whales can sell at a much-inflated price due to all the hype surrounding the ICO. The populace may believe this is the first time the crypto is available, but the elitists already bought big batches to unload once the price goes up. Some other exchanges have like services, though they can be costly. Some are $ 10,000 or more. Think about it. How much is 0.1 Bitcoins now ? One-tenth of a BTC is $ 4,688 on 28 MAR 22 .

Chapter 12 — Introduction to Decentralized Finance (DeFi)

This segment might not be adenine essential as some others, but it is critical to understand DeFi and how it affects some coins .

Chapter 13 — Introduction to Mining & Staking

Staking, IMHO, is one of the most essential technologies after the bribe. If you plan to HODL, you might want to consider “locked staking” to earn a high annual percentage yield ( APY ) while you do. Some pay massive APY .

Final thoughts about the book

If you ’ ra considering investing in cryptocurrency, these are some of the reasons you should read Ian Balina ’ s Crypto Investing Guide. Ninety percentage of the 249 readers who left a follow-up on Amazon rated the book either 4 or 5-stars, with an overall rat of 4.6 stars. however, if you are crypto-literate, there are other books that go more in depth than this one does. My Medium writer acquaintance, Tom Handy wrote an excellent article, 9 Cryptocurrency Books You Should Read to Get a General Understanding. In it, he mentions this book excessively. Two others I would recommend are, Crypto net income : Your Expert Guide to Financial Freedom through Cryptocurrency Investing by Peter Bryant and The only Cryptocurrency Investing Book You ’ ll Ever Need : An Absolute Beginner ’ s Guide to the Biggest ‘ Millionaire Maker ’ Asset of 2022 and Beyond — Including How to Make money from NFTs by Freeman Publications, which probably besides has the longest title always. They say, “…we are still in just the 3rd inning of Crypto as a financial entity.” Note: This post contains affiliate links. Read my disclosure statement for additional information.About the Author Photo by Jean Springs from Pexels Stephen Dalton is a withdraw US Army First Sergeant with a degree in journalism from the University of Maryland and a Certified US English Chicago Manual of Style Editor. besides, a top writer in Nutrition, Travel, Fiction, Transportation, VR, NFL, Design, Creativity, and Short Story.

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