21. Start your crypto journey
The 5 stages of a Crypto Investor
Now that we have completed the course, it's time to start our crypto journey.
Stage 1: Starting off with a zero budget
If I was just starting out with crypto and had a zero budget, I would earn free cryptos. There are 3 ways of doing this:
New crypto startups use airdrops as a marketing strategy. They give free cryptos in return for promoting their website and social media accounts. You can get a list of the latest airdrops from coinmarketcap.com and airdropalert.com
2. Learn & Earn programs
Many cryptos run small courses to build awareness about their project. You need to watch a small video and take a small quiz and you get free cryptos. There is an earn section on coinmarketcap.com and coinbase.com
3. Play to Earn games
As the name suggests, these are blockchain-based games that give you free cryptos for playing them.
Some of these games are Decentraland, Sandbox, Axie Infinity, Gala
Stage 2 - $100 budget
If I was buying my first crypto, it would be Bitcoin (BTC). Bitcoin is the big daddy of crypto and whenever it dips, the entire crypto market dips and whenever it zooms up, the entire market goes with it.
Stage 3 - $1,000 budget
If I had a budget up to $1000, I would stick to the big boys - Bitcoin (BTC), Ether (ETH), and Binance Coin (BNB).
Stage 4 - $10,000 budget
If I was in this bracket, I would spread my money on the top cryptos in some of these 4 sectors:
1. DAO (Decentralized Autonomous Organizations) cryptos
The top cryptos include Aave (AAVE), Compound (COMP), Curve DAO Token (CRV), Dash (DASH), Decred (DCR), Maker (MKR), SushiSwap (SUSHI), and Uniswap (UNI).
2. DeFi (Decentralized Finance) cryptos
The top cryptos include Aave (AAVE), Curve DAO Token (CRV), PancakeSwap (CAKE), SushiSwap (SUSHI), and Uniswap (UNI).
3. Gaming & Metaverse cryptos
The top cryptos include Axie Infinity (AXS), Decentraland (MANA), Enjin Coin (ENJ), Gala (GALA), and The Sandbox (SAND).
4. Web 3.0 cryptos
The top cryptos include Arweave (AR), Basic Attention Token (BAT), Filecoin (FIL), Chainlink (LINK), and Theta (THETA)
Stage 5 - Over $10,000 budget
Now the game gets serious. Anyone in this bracket should take advice from someone who knows their way around crypto. You will need solid advice around Yield Farming, Liquidity Pools, DeFi protocols & more.
All the best! I hope you have an awesome Crypto journey.