S30: step-by-step process of starting to invest in crypto

It's July guys, Happy new month.

The approval of Bitcoin ETF in 2021 drove the price of bitcoin to $69k which is the peak of the last bull run before the bears have it. our topic for today is What is Bitcoin ETF and what it means to you

You may be curious, what is ETF, it is an exchange traded fund, is a SEC-registered investment companies that offer investors a way to pool their money in a fund that invest in stocks, bonds or other assets.

starting to invest in crypto

investment in crypto is not a get rich quick scheme, but you can ride the waves be it bull market or bear market, keeping a strategy will help you get started in a convinient way.

To get started with investing in crypto,

1. Prepare the portfolio background work

2. Select your choice of asset

3. Develop a strategy

4. Test waters

5. Discipline

Preparing the portfolio background work

preparing the background work is the easiest, this is when you

1. Pick a wallet

2. Pick an exchange

3. Pick a tracking platform

4. Adjust your calendar to accomodate your new journey

Select your choice of asset

what kind of coins are you investment in and why are you investing in them.

1. Trends

2. Security asset

3. Medium risk asset

4. High risk asset

for a beginner, you should not trade more 5 asset in your portfolio

Develop a strategy

since the days when financial market mature and risk becomes a thing of important. many OGs in the financial industry has come up with styles and structures of investing.

many of the time, a strategy for investment is to determine how you want to be exposing your money to fit your lifestyle, i.e. balancing your income against expenditure and managing the risk of your expose money.

1. DCA

2. VA

3. Lump sum

Test waters

you have successfully completed the above, what then. practicalise it yourself. one of your first task is to convert naira to crypto, use the crypto to buy your intended asset.

then the big question: How much can i start with.