Good Crypto Investing Decisions

Last week I published an article on the big things I got wrong over the last year and a half being heavily involved in crypto. 

Plenty of things went well too, though, and it was definitely a successful time period. So aside from the things that went wrong, what went right? Or what were some decisions that ended up being prudent which I’m glad I made? 

Here’s what stands out. 

Not Trading

There’s a very easy trap to fall into when you first get exposed to crypto. You see these people on Twitter who at least seem like they have a huge amount of money and are crypto rich, and you see them posting charts with their predictions of where the price is going to go. 

Then you assume that means they’ve made their money trading, so you should try to trade too if you want to get as rich as them. 

This is almost never the case. Many times they don’t have much money at all, and for the ones who do, most did not make it from actively trading. More likely they bought a bunch of Bitcoin or Ethereum a few years ago, were crazy enough to hold it through the 90% drawdown, and then got rich through a combination of patience and stupidity depending on your interpretation. 

Or, they already had a bunch of money from something else. Or they made one really great lucky trade.