What other people say is the key to success in crypto:
1. delayed gratification.
2. picking the right project.
3. some super-secret technical analysis trading super-hidden super-secret pattern with just the right mix of rectangles and lines on your TradingView screen.
No, the key to success in crypto is a lot easier than that. Just don't lose your fuckin crypto.
This won't always be the key, but it's the key now.
Delayed gratification doesn't really work. No, when you see an opportunity for 500% APR on an AAVE-ETH pair or an 80% discount on a proven project, you need to take it NOW. Then you need to sell that awesome trade NOW before the shit tanks back down. I've listened to the multimillionaires that got in the space before me. In 2016 when exchanges were first hitting the scene, people who knew arbitrage were able to make millions simply buying on Exchange 1 and selling on Exchange 2. These opportunities don't really exist any more. Why? The tech got better. Exchanges fixed their impurities. Centralized oracles now connect nearly everything.
In the same way, these big yield farms won't always be around. When the entirety of crypto is in a distribution phase, founders will "pay" a large amount to new investors. Once the infrastructure is set in stone 1-2 years from now, you're not gonna see 250% APRs on good pairs any more. You might get them on high-risk shitcoin pairs, but not on the stuff you'd really want to hold.
Picking the right project right now is a fallacy. That's why I don't really answer questions about "which project should I choose?" Doesn't matter, because everything is connected to everything else through liquidity pairs. You see those LPs on all those swaps with BTC-ETH or ZIL-BNB or ONT-ZAP or whatever? That means everything (well, most vetted things, not dumb meme coins) is connected and it's the sole reason we get these BTC-up-then-ETH-up-then-alts-up pattern.
And we also get the BTC-down-then-ETH-down-then-alts-down pattern. So it behooves you to look at the macro. Unless you're going to really follow a project, like join their Telegram, Discord, Twitter, participate in governance, and buy the dip, then you should be looking at the macro. Is the entire market bullish? Ok, then just buy some non-shit projects and wait. Is the market bearish? Ok, then flip to stables. Everything's in beta. Price increases on individual projects because of good marketing, then good tech. And unless you're really in on the scene, you're not gonna catch the pump on any individual project. But you can easily catch total market pumps.
Another point here. This is crypto. You're central to this process, not a bystander. You are the market. You can affect the price! Asking someone else for good projects means you want to be a bystander. Take control of the opportunity. A better way to do things is to research what you are actually interested in and go to others to share information. If you like music, then become an expert in all things Audius, NFTMusic.ai, and mp3finance. Hit the devs up personally. Come back to your community with information. People with information you don't have will correct you, then you both move forward together. Less question asking, more information trading.
So yeah, in short, since everything's in beta, pretty much everything that's not a complete scam is the right project. If you want those really crazy gains, then pick a specialty and dig down deep into it. Then TAKE RESPONSIBILITY to help your chosen project succeed. This is the future, unless you want to continue living in a world where all of your shit is dictated to you by people you don't even fuckin know.
Super secret TA is bullshit. The crypto market has matured enough that traditional TA will work well enough, Bart Simpson patterns notwithstanding. But if you're not a TA trader, now's not the time to become one. Crypto's especially tricky because too many folks think they're generating alpha when they're really just benefitting off the market's strong beta. Then when everything crashes, they don't know why they lost money. Umm, because you never knew how to trade, idiot. Crypto's upside is just so far up that you thought you were fuckin good when you're really just in the right place at the right time (until you're not, lul).
I say you can paper trade with these fake TA gurus on Youtube and Twitch. If you're trying to make bank following Cryptoface, you're gonna get your face sliced off. He's not a genius. He got lucky. It's just math — out of 8 billion earthlings, somebody has to get lucky with crypto. Following goofballs like That Martini Guy or The Moon are like buying a ticket to IHateMoneyville. Paper trade with them until you develop your own trading strategy, if you must.
So what's the secret?
The upside to crypto is just so uppity that all you have to do is avoid losing your fuckin crypto. You lose your crypto through
3. shit projects,
4. losing keys, and
5. input errors.
Avoiding hacks is a college course, but I think I have some good insights laid out here.
Avoiding scams is also a course, but the basics include using your common sense. When we say don't give your private keys to anyone, don't. Hell, I wouldn't give my public key to anyone who hasn't been doxxed as a solid dev. Folks can use your public key to see your entire transaction history if you don't know to use coinmixers. They could then target you in a number of ways. Also, have a computer you use solely for crypto. You made gains. You can afford it. And men of culture, stay off the porn sites. They have keyloggers that hackers can use to lift your passwords.
Avoid shit projects by sticking to a mainline. What does that mean? It means first what I said above — find your actual interest in crypto. Don't worry about random coins pumping. Find what YOU are interested in and get involved in those communities. Know what happens then? Your community will inform you of the latest, greatest opportunities. You'll get inside info before projects hit Coingecko (by the time they hit the top list on the dropdown menu, they've already done like 25-100X). For instance, if you love the Tezos community for whatever resaon, you'll eventually come to know what projects are created with the Tezos dev blessing and those that are just random garbage. This even works with meme coins or ponzicoins. There's an entire side of crypto where MLM monkeys make tons of money from shit like Drip. I don't get in it. Why? Because that's not my community. I know about it, but I don't get in. I salute them from afar, let them have their gains and don't chase their pump. That's their pump, not mine. I see people making bank from Bored Ape Yacht Club and whatever that penguin shit was, but I didn't get in. Why? I'm not in that community. By the time I hear about it, it's topped out and there are unvetted copycat scams all over the place. But if you're in, you get the info first. Stick to your mainline. That's how you win and avoid shit.
Avoid losing keys by not giving your shit away, obviously. But more importantly is not to fuckin put your whole stack on yield farming or anything that takes your keys, even temporarily. I yield farm. I know it's dangerous. But I have a plan. I'll share the basics:
I use high-yield farms for a reason — to reduce the amount of time and assets exposed to the market at any given time. I constantly preach against being tempted by those garbage 6% Blockfi returns. Because not only are those returns garbage compared to the 400% APR you could get, but you have to put your whole stack at risk to get anything worth a damn from 6%. Instead of putting your little 1 BTC on a 6% Blockfi for a year, why not use only 0.2 BTC on a 30% farm for a year? Even better — find a 60% farm and risk 0.2 BTC for only 6 months? Then if the whole thing gets rekt, you've still got 0.8 BTC sitting safely on your Ledger instead of losing your whole fuckin 1 BTC? You get the point. Maybe I'll explain in more detail in another article. I'm tired and this is getting long.
Avoid input errors by copy and pasting EVERYTHING. Use those QR codes. And double check anyway. Metamask has a permission that allows it to change what you copy and paste. Weird, but true.
Ok, damn. I've had enough of you morons for today. I need to have a life, too, you know.
Remember, just stay away from the junk and you'll be fine. You don't need all this other bullshit in your life, especially if you're not on the market 24/7 like I am and you actually want to go play frisbee and chill every once in a while. See ya later.
AlucardCrypto Telegram JoinUp Link ---> https://t.me/alucard0x
Once we hit 10K followers on Publish0x, we're doing exclusive AMAs. I believe that's a first here, so let's do it!
YOUR GUIDE TO MAKING MONEY IN CRYPTO STARTS HERE ---> Making Money in Crypto Part 1
Why you should buy your Tesla (and everything else) in BTC ---> Why You Should Buy Tesla With Bitcoin
Find out why Chainlink 2.0 is a problem for your freedom ---> Why Chainlink Will Kill Crypto
Why Hexicans/Pulsechain Fags are Pieces of Fucking Shit ---> The Problem with the Hex and Pulsechain Community