5 Rules of the Trade: Becoming Crypto Solvent

What does it mean to be crypto solvent? It means being able to pay off your debts and live off your investments in cryptocurrencies. Something that everyone can and should do. It may not seem like it now but the centralized banking system is weakening and losing the trust of the people. This is evidenced through the 2008 bank bailout that cost US taxpayers $700 billion. Due to the indisposition of the status quo, a new digital currency was created by Satoshi Nakamoto - Bitcoin. Now, decentralized and secure blockchain technologies are on the rise, siphoning power from the central banks, revolutionizing the world we currently live in. So if you're serious about your freedom, if you're worried about you're data security, if you have concerns about the future of humanity then you need to get involved in cryptocurrency now.

I have been a cryptocurrency investor since May 2017 and have experienced some of the ups and the downs, I have made big mistakes, I've bought at the all time highs and sold at the lows, and I have made investments based on emotion. I have learned from my mistakes and become wiser and more confident. I started out with basic unsophisticated knowledge of the industry, however, by doing my own research and being diligent and persistent I have become successful. Let me help shine some light on the industry for you.

I will gradually be releasing articles on how to get started in cryptocurrency and then I will give my thoughts and views on different projects to help YOU become successful too. If you want to make some serious cash and live life free of financial worries then follow me.

Disclaimer: the following is based on my opinion and is not financial advice, purchase at your own risk

Lets dive right in. First there are a few things we need to get out straight away. Follow these rules and all will be fine:

1) NEVER invest more than you can afford!!
Don't go willy-nilly charging your credit card when you can't afford to pay it off. This is especially important when you're just starting as you are likely to have some failures initially. As you gather more confidence and fiat then this will become less of an issue.

2) Do Your Own Research (DYOR)
Don't invest in something that your friend Joe Schmo says is the next Ethereum. Look into the project. Visit their web page. Evaluate their team. Do some basic coin metrics. Formulate your own opinions.

3) Be Emotionless.
Just like you shouldn't get too excited over a green candle, you should be equally unhindered by a red candle. This market is EXTREMELY volatile so keep emotions at bay.

4) Have a strategy.
Don't go pushing buttons before you know what they do. Have an entry plan and an exit plan. Give yourself guidelines that you are comfortable with. Know what you are doing before you commit.

5) Be patient.
Don't sell at a loss. Follow the basics, buy low and sell high. This is the one rule that can sometimes be broken.

Getting Started
So now we have some basic rules that should be adhered to as best as you can. The next step is to set up a fiat > crypto gateway. The most common and widely used (and hated due to high fees) is Coinbase. It is available to download on IOS or android. Create an account and connect your bank account. Some of you may have to call your bank to approve a transfer as some banks don't allow it. That's okay, don't give up. If you need to, switch to a local credit union.

Okay once you have that sorted you can purchase Bitcoin, Ethereum or Bitcoin Cash. Ethereum may be better to start with as it is faster than Bitcoin for transfers and typically costs a little less. Also make sure whatever you buy isn't in free fall. You're likely not going to know how to tell or anticipate this happening but don't panic it'll be fine. Just stick to the rules and follow me for more info and details to come.

That's it for today, let that soak in and I will be back soon with another article. Thanks for reading and good luck!