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The cryptocurrency market cap is currently sitting at USD$ 350 billion. Compared to traditional markets, it’s peanuts. Because of its small market cap, there is volatility — and volatility means more money to be made (or lost).

Can you make $100K by investing as little as $5000? Yes, you can. If you have the proper strategy and mind-set in place, making money in crypto is inevitable (like making coffee by turning on a coffee maker)

Here at CryptoGrinders, we previously recommended our members to buy Huobi Token at $1, and at time of writing it’s sitting at $4.50. We also got into Pundi X ICO (0.00000011 BTC), and now it’s worth 0.00000115 BTC — a 1,000% return.

Indeed, crypto is where fast money can be made.

However, it requires proper education to get there. Don’t be misled by shills on YouTube — it takes a proper skillset to prosper in the biggest transfer of wealth in history (Litecoin was worth a mere $4 a year ago, and now it’s valued at $128, a mere 12 months later)

 

Here’s an exclusive summary of the article:

I. You need to have a proper education and strategy in place (do this before you even start buying crypto … or else you’re destined to lose your hard-earned money)
II. A clear guideline on what you need to learn to get good at making money in the crypto space
III. How to keep your funds safe like a Swiss bank account (practical security measures that you can implement to keep your coins safe)

With that said, let’s get straight into it …

 

Have a proper Education and Strategy

In any market place, there are winners and losers. Crypto is war. And to become a winner, you need to prepare yourself for the global cryptocurrency market place.

People get into crypto and buy the wrong things — mostly by listening to mainstream news and buying Ripple at the all-time high … only to sell it at a loss. Or they buy whatever is hyped on YouTube … only to lose money over and over again.

This is the wrong approach.

Instead, you should be using an analytical and methodical approach to grow your wealth month by month, like a snowball rolling down a mountain.

Which leads to the second point …


Learn Fundamental and Technical Analysis

Learn fundamental analysis first, because you want to understand what you’re investing in. This market is about speculation on speculative assets: however, the fundamentals are still relevant.

For example, BTC is about secure transfer of value, XMR is about transfer of value with built-in privacy, ETH is about smart contracts etc … but there are also plenty of nonsense projects in this market (ie, cash grab projects).

Does the project you’re investing in make sense? Is the technology there, or is it a “billion-dollar market cap project” that only has a fancy white paper? If you’re into “fundamental” investing, then learn your fundamental analysis.

(I have seen projects that are nothing more than glorified cash grabs. People want to put banana tracking on the blockchain — what the heck is that? Or how about “dating on the blockchain” … yeah no thank you.)

Which brings us to the next subject …

Even if you’re purely a “hodl” type of investor, you still need to learn technical analysis to time proper entries into the market. After all, you don’t want to buy-in at an all time high, only to see your investment drop by 60 percent.

Traders definitely need to learn technical analysis: candle sticks, chart patterns, indicators, risk management, and the right trading strategies (day trading, swing trade, position trade etc). You wouldn’t become a professional banker without learning finance, so you definitely shouldn’t become a full-time trader without learning technical analysis.

The more you learn, the more you earn, so learn some technical and fundamental analysis every day; before you know it, you will be trading with the whales.

 

Secure your funds like a Swiss Bank account

“Invest what you can lose” is obvious advice, so I’m not going to insult your intelligence. However, we do need to take a second look at security when it comes to crypto. After all, you are your own bank.

Exchanges have been hacked before. Web services such as MyEtherWallet have also been hacked (many times), and people do plant malicious firmware into second hand hardware wallet (like the Nano Ledger S) to steal the coins. It’s the Wild West days of cryptocurrency, and you’re in it.

The first thing you need to do is secure your funds. I recommend a hardware wallet like the Nano Ledger S (brand new), and encourage you to practice good computer security.

Here are some of tips to get you going:

I. Use http://protonmail.com

It has 2 password layers that makes it almost impossible hacked. It is definitely more secure than Gmail. Look up the team behind Protonmail and you’ll realize why it’s the best email provider on the web.

II. Use Linux

Contrary to popular belief, Mint Linux is pretty easy to use, and it is designed to be secure from viruses. Windows, on the other hand, is back-doored by 3 letter agencies. You can easily get a virus or Trojan horses with Windows, but it’s infinitely harder to get infected when using Linux.

III. Use 2FA for all your exchanges

Exchanges are vulnerable, so make sure that you take all possible precautions when using one. Enable the Google Authenticator or SMS verification whenever possible to make sure that your funds are never stolen, even if your password is compromised.

IV. Keep your funds offline

Leave whatever you can afford to lose on the exchange, and store everything else on your hardware wallet to keep it nice and safe. Be sure to make multiple backups of your seed words.

V. Never fall for phishing scams

Bookmark all the web services and exchanges that you use, and be especially vigilant that the website is spelled correctly. Many phishing scams include tiny changes to the website link to trick users.

VI. If you’re using public WIFI, be sure to use VPN

Public WIFIs are not secure. Just as you wouldn’t use a cheap 2 dollar lock to secure a bank vault, neither should you use unsecured connections to access your funds.

Whatever you leave on the exchange is exposed to counter-party risk (ie, the exchange gets hacked and your coins are gone). What you can do to lower the risk is trade on 4 different exchanges, in case one gets hacked you only lose 1/4 of your fund.

What I recommend is buying a Thinkpad and installing Mint Linux or Ubuntu (since it’s user friendly), and do your trading activities on there (by the way, Linux is free to install, unlike Windows).

In crypto, you are your own Swiss bank account so take the time and effort to make your security as tight as possible.

 

In conclusion… Your journey to making $100K starts today.

Crypto is the new stock market of the world. No longer do you need to be an “accredited” investor to invest; there are 17-year old millionaires in the space because they bought Ripple for pennies or Litecoin at $4 each.

The biggest transfer of wealth is happening before your eyes. Will you dive straight in and gamble? Or will you take a strategic approach to crypto like a military operation?

To make money in any field, education is the foundation needed to acquire the proper skillsets. I recommend you study every day to get good at trading/investing, and never listen to the mainstream media shills; they don’t know what they’re talking about.

Put in the work and make your first $100K with cryptocurrency. We’re only at the beginning of the monetary revolution; it’s going to be a wild ride — and now’s your chance to make the easy money before Wall Street moves in.

Thanks for reading and stay tuned for the next CryptoGrinders article.

 

23 May 2018

Brian Li