101 Cryptocurrency Lessons I Learned Since Buying Bitcoin in 2014!

0:00 This complete cryptocurrency course includes 101 crypto lessons I learned since I bought Bitcoin in 2014! I’m holding Bitcoin BTC, Ethereum ETH, Internet Computer Protocol ICP, and Solana SOL https://linktr.ee/jerrybanfield
0:15 Understand why the world needs crypto. Understand what crypto is.
16:41 Understand how gold and crypto price suppression. Not your keys, not your crypto.
22:23 Get a mentor. https://www.patreon.com/jerrybanfield or Joe Parys @joeparyscrypto or Suppoman Crypto @suppomancrypto
26:57 Understand the basics of investing.
30:36 Most cryptocurrency is a bad investment that will lose money. Research every altcoin before buying.
39:00 Focus on long term wealth building.
44:59 Read the book Everyday Millionaires.
48:51 Cut expenses.
56:16 Understand confirmation bias.
1:01:40 Consider the hours you spend in crypto with your returns.
1:07:04 Begin with the end of life in mind.
1:11:59 Understand market manipulation.
1:15:39 Take care of your physical health.
1:18:12 Take care of your mental health.
1:21:50 Crypto YouTube is misleading.
1:30:20 Forget giving an inheritance.
1:30:57 Focus on making money for spending in a business or a job you love.
1:32:59 Don’t work crypto like a job unless you truly love it.
1:37:58 It can take a lifetime to build wealth but only a day to lose it especially in crypto.
1:39:56 Building wealth can happen fast.
1:45:23 You can become a millionaire in crypto.
1:49:25 Invest what you can afford to hold.
1:52:57 Keep enough cash on hand to pay the bills for several months.
1:56:36 Make minimum payments on low interest debt.
2:01:01 Have an estate plan.
2:05:03 Avoid buying anything with a tax. Check dextools for taxes and other red flags.
2:07:33 Memecoins are never an investment.
2:09:13 Use blockchain center for more price data.
2:11:09 Understand anchoring bias.
2:14:18 Understand survivorship bias.
2:17:43 Understand unrealized capital gains and wealth building.
2:20:08 Understand availability heuristic.
2:22:43 Avoid direct message scams.
2:25:27 Avoid airdrop scams.
2:27:53 Use advanced trade on Coinbase.
2:30:56 Avoid rugpulls.
2:34:29 Be aware of token unlocks.
2:39:01 Always check the fully diluted market cap.
2:43:06 Check the number of holders.
2:50:56 Compare daily active users.
3:00:46 Minimize gas fees.
3:03:51 Check withdrawal fees on exchanges before buying.
3:05:50 Save money transferring between exchanges.
3:07:57 Consider the spread.
3:10:59 Place buy orders below market price.
3:13:10 Track everything for taxes.
3:14:56 Minimize hot wallet crypto holdings.
3:16:52 Understand coins versus tokens.
3:20:58 Project founder and development team.
3:22:40 Recovery phrases.
3:33:02 Use a password manager like LastPass.
3:35:39 Avoid Altcoins that love CBDCs
3:40:25 Stake whenever possible to earn yield. https://youtu.be/VXqxVTFRtmM
3:42:47 Take responsibility for your choices.
3:47:46 Should I sell?
3:51:50 Understand the competitiveness of the gaming industry.
3:54:16 Avoid holding anything without conviction.
3:57:44 Diversify among cryptocurrencies to spread risk.
4:01:15 Avoid too much diversification.
4:05:33 Consider taxes when selling.
4:08:46 Sell to balance your portfolio.
4:11:32 Move to a low tax jurisdiction.
4:13:52 Avoid narrative play hype.
4:17:11 Avoid buying or selling news.
4:21:31 Don’t marry a crypto.
4:25:49 Avoid leverage and options trading.
4:31:23 Minimize transactions to reduce fees and complexity.
4:33:09 Always give back and help others.
4:37:34 Understand Total Value Locked TVL.
4:47:08 Avoid watching crypto YouTube and Twitter every day. See the big picture.
4:50:53 Understand Bitcoin 4 year halving cycles.
4:56:16 Avoid technical analysis.
4:59:29 Avoid holding wrapped or bridged assets.
5:03:11 Tell everyone about crypto.
5:06:05 Uncertainty and confusion impact everyone.
5:09:43 Own your home.
5:14:52 Check token sales and funding.
5:23:50 Avoid buying anything with liquidity pools
5:30:25 Turn off notifications and uninstall telegram.
5:33:40 The goal of crypto news is to cause liquidations.
5:36:24 Interest in crypto comes in waves. Avoid checking prices every day.
5:42:02 Understand Dollar Cost Averaging and Power DCA.
5:50:47 Take some time to play.
5:53:05 Allocate based on risk.
5:56:42 Understand sunk cost fallacy.
6:03:08 Avoid any altcoin without a fully functional product.
6:08:35 Avoid people that are toxic about crypto.
6:11:28 Think global for crypto.
6:15:28 Don’t hold stablecoins like USDC or USDT.
6:18:43 Check developer activity on CryptoMiso.
6:22:24 Most NFTs are a waste of money. Check volume on CryptoSlam.
6:24:49 You cannot really own cryptocurrency.
6:29:55 You’re vulnerable when you win.
6:32:55 Most cryptos are centralized.
6:38:13 Don’t quit crypto.
6:40:15 Join communities with people who have what you want. https://twitch.tv/jerrybanfield/

Not financial advice.

Love,
Jerry Banfield in Saint Petersburg, Florida, USA
⁠#jerrybanfield #jerrybanfieldcrypto