Allow me to start with the most obvious statement in history… you should absolutely not be listening to me about investing! I’m just a guy. I have no particular gift with making money, and I have literally no expertise with financial planning or investing. I reiterate, following my advice about investing is ludicrous, and you should absolutely not do it.
Cool. Got it?
Now… that said, I am making a ton of money with cryptocurrency.
How am I doing it? I’m getting lucky, again and again and again and again. I’ve literally made 20 extremely timely crypto trades, and only one false move. I’m crushing this game.
But let’s back up. What even is cryptocurrency? In short… it’s money… but it’s not money that is sitting anywhere in particular. When “fiat money” was invented (the dollar bills in your wallet), we all agreed that we would trade around these little pieces of paper, and we would all agree that they were worth something. And many years ago, that money used to represent a chunk of gold in a bank somewhere. That ain’t the case anymore, but the pieces of paper are still good.
Cryptocurrency, on the other hand, doesn’t represent anything anywhere, but it still has value, because people want it. It’s a bit intangible, and that might make you nervous, but it does have value. And more and more people every day are agreeing that it does, and that’s really all money is. If we all agreed that buying a house cost 10 potatoes, then potatoes would become money. It’s just an agreement with other people. Some retailers are starting to accept BitCoin as payment, and others are dabbling in the other coins, so it’s starting to be accepted.
So how do you even get crypto? There’s lots of ways… but I use the Coinbase app. It’s pretty simple. It’s like Venmo… you just attach it to your bank account, and you can move money in and out of it. The app takes a little chunk anytime you do anything involving actual dollars, and that’s how they make their money, but otherwise, you just kinda… play with it.
What cryptocurrency should you buy? I wouldn’t presume to tell you that. I’ve had tremendous luck with Shiba Inu coin, but who knows how long that’s gonna be hot? Certainly not me! There are literally thousands of different kinds, with BitCoin being the most famous and most valuable. Think of it as buying stocks… you can buy Apple stock, and it’ll probably go up slow and steady… or it might not. My tactic is to just keep an eye on it, and watch for trends. If something looks like it’s about ready to spike, I’ll buy some. Then when it’s over, I get out. And you just ride the waves up and down.
Bottom line? I’m having fun with it, but that’s because I think of it as gambling. I walk into a casino, and I don’t expect to walk away with anything. When I do, I consider that a win. When I don’t, I consider it the price of a good time. Like I said, I don’t know what I’m doing, but I’m having a lot of luck, and I’ve made like several thousand dollars in a month. Maybe I’ll lose it all tomorrow! I don’t know! I’m just enjoying the ride!
I don’t recommend you try it. But if you do, hit me up on Facebook and let’s chat about it!
~Jake from 98.7 The Bull