1 min read

You're (probably) not special

Investing is boring for the average person. You take a cut of your paycheck each month, set it aside in a stock/bond index fund, and forget about it for 30 or more years. There's nothing particularly sexy about that, but it's historically enough to make you a millionaire if you start early enough.

Crypto makes things a little bit spicier. All the cool kids are doing it, there's more risk and more reward, and everything seems to be founded on speculation, memes, and day trading. If people are becoming billionaires in 10 years or less, then you can too! If you buy into the hype, you're probably also going to sell when the market tanks.

Markets rise and fall with investor sentiment. Be wary when everyone else is taking on second mortgages to buy more. Be bold when everyone else is running scared. Don't ape into buying something without doing your research.

This is the only financial advice I'll ever hand out. Too much of crypto is founded on hype. Valuations are often unreasonably high with no project fundamentals to back them up.

There's lots of money to make in this space as an investor, but the best way to do it is the boring way. Day trading sounds cool, but you'll sacrifice your sanity and probably won't beat the market in the process. Just because you can draw lines on charts doesn't mean you're right.

More tomorrow,


P.S. Also be careful where you get your hot tips from. Make sure you understand that the person shilling the newest, hottest coin most likely has ulterior motives. Only buy when you know why.