Disclaimer: crypto is volatile and there are lots of scams out there – you can make a lot or you can lose a lot (or everything). Do your own research – this is not financial advice. I’m just showing what I’m doing, and I’m taking risks on my end too. I’ve been both right and wrong before, so do your research.
How I started in crypto
I entered crypto speculation in late 2017 when my best friend introduced me to it, and of course I was freaking skeptical when I first saw it. I was very cautious of it being a scam as I hadnt really heard of bitcoin or crypto before that (I’m in the offline physical therapy world).
I pored over whitepapers, got involved with different crypto and blockchain projects.
Of course, I definitely got rugpulled a number of times across different projects (the highest risks are with new projects with lots of hype and fluff and promises of high returns).
At the end of 2018, there was a massive crash (or correction?) as bitcoin went I sat on a paper loss of 80%++ – I was so sad and guilty when I told my wife, but I stayed for both the tech and adoption, which I believe will increase the price.
True enough, in 2021, my speculations in crypto sits currently at 300%+ of my original investment amount, and I’m sensing that it should have another good run as governments and regulations on board and after it gets regulated, the returns should be “normal like financial markets”.
Note #:1 regulations usually means that financial institutions, sovereign/wealth funds, pension plans etc will have more exposure to crypto as a whole.
I chanced upon some videos/articles and wanted to share this with you:
- Kevin O’Leary: Crypto Will Be the 12th Sector of the S&P https://www.youtube.com/watch?v=gSPSRVDN8l4
- Kevin O’Leary: 20% of my portfolio is in cryptocurrencies https://www.youtube.com/watch?v=vqkC_XcxxJg
- Kevin O’Leary: Buy The Dip And Chill For 1 Year – They Want To Fool You, Don’t Listen To Them https://www.youtube.com/watch?v=FKqEOFwTO2A
- Kevin O’Leary: This Is Your Last Chance To Become Millionaire – My Most Sincere Advice To You https://www.youtube.com/watch?v=5_cyE10Ljms&t=5s
- BlackRock, Fidelity and others to invest $400M in USDC stablecoin issuer Circle https://techcrunch.com/2022/04/12/blackrock-fidelity-and-others-to-invest-400m-in-usdc-stablecoin-issuer-circle/
- Coin Gecko https://www.coingecko.com/
- 2021 financial market value https://www.statista.com/statistics/421060/global-financial-institutions-assets/
I believe that crypto including bitcoin, ethereum, solana, ripple and other crypto/blockchain projects would be regulated soon enough, and that itself will lead to a global increase of crypto market cap value as a whole.
No dang crystal ball
Of course, I dont have a crystal ball though that’d be nice lol, but I am ready to hodl my crypto speculations for a good 5-10+ years and longer. Why this is the case is as crypto becomes mainstream, it’d become “normal” to have, own and use crypto as methods of making and receiving payment =)
Note #2 I made a mistake – I thought the global financial market is worth 105M (see link #7), but it’s actually closer to $460 trillion in 2021. And I hadnt factored in other types of investments such as real estate.
For reference, crypto market cap April 2022 is $1.9T. That’s a conservative 230X comparatively.
What you can consider
For those who want to dip their toes / speculate into crypto but unsure, you can consider
- speculating into the top 10 / 50 / 100 of listed coins on coingecko
- ask your employer/side hustle jobs to pay you in crypto/btc
- invest into companies that have crypto exposure such as Tesla, MicroStrategy, NVidia etc
Remember, direct crypto speculation can be very volatile though is an emerging asset class – do your research and assume you can lose your invested amounts.
I’ll be holding onto my crypto and 5-10 years plus and equally as important, is to cash out (take out principal invested and profits) regularly – makes me sleep like a baby because my loss-related stress levels go down significantly =)
As Kevin o’Leary said in one of his videos: buy the dip and chill.
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.