Getting Started in Crypto: Everything You Need to Find the Next 100x
I’m not writing about any cryptos or NFTs this week. I just wanted to get this quick guide out for people that want to research into crypto on their own. I want to give you some tools of the trade in crypto so that you can find your own information.
One thing I hear all the time is people that want to get into crypto but have no idea where to begin.
This guide is going to give you all the resources you need to be a successful crypto investor. Everything in here is exactly how I began in crypto and everything I use today. Using just these tools I was able to do over 100x on my entire portfolio. Keep in mind this was during a bull market, but if you learn how to use these resources for information now I have no doubt you can find the next 100x when the market turns around. How you use these tools is up to you but everything here is everything you need.
Twitter
Twitter is easily the most important resource in crypto. You can be extremely successful off of twitter alone. If you’re not on Twitter you’re missing out on a major edge in the market. Most, if not all, of crypto’s major market participants are on twitter. Therefore, it acts as a great sentiment indicator of the overall market. If they are important in the crypto sphere they will be on Twitter tweeting out their thoughts on the market for free. I’m not going to tell you who to follow. Thats part of finding an edge is you go down your own rabbit holes and find info and accounts that no one knows about. This is how I found nearly all of my biggest wins in crypto. If you simply follow anonymous cartoon characters on twitter, you will do fine. You can find all kinds of experts from technical traders to NFT historians to DEFI yield chasers. Depending on what you’re looking for you can find an account on twitter for it.
A Few Tips for Finding Alpha on Twitter
For big accounts and influencers when they tweet about a project you probably missed the boat already. They are good to follow for overall market commentary but usually they won’t give much alpha (just a financial term for getting an edge on the market). You want to get into projects before big accounts tweet about them. The best way to find alpha off of big accounts I’ve found is that when they tweet out something like “whats the next big NFT project coming out?” go through ALL the replies on a tweet like that. There will be hundreds of replies with all different projects. You are bound to come across something big from a small unknown account in the replies.
Smaller accounts will have the best alpha. Find smaller accounts with only a few thousand followers or less. These accounts are much better for getting early info before big accounts. These accounts don’t have a big following yet so they are . Scroll down their feed and see some of their calls and then go and see how those projects did. If they are consistently delivering big wins you probably want to follow them.
Telegram
Telegram is another great resource for researching cryptos. Although, it’s not as useful for finding information on NFTs it’s great for finding info on tokens. There are tons of telegram groups you can join and follow along in the chat. You will notice some accounts on twitter will have links to their telegram groups in their bio. There are plenty of free groups you can join. Some groups have thousands of people in them and can be extremely noisy with constant new messages. Other groups are ran by a single person and may not be nearly as noisy but still post great info making it easier to follow along. A lot of times, telegram is the first place to find info because people will post to telegram before they post to Twitter. It’s also a great way to follow crypto projects you like. You can join a crypto’s specific telegram group and message with the founders, ask questions, and get info directly from the team. It’s the best way to stay up to date with a crypto project and communicate directly with the team. It’s also a great way to get a gage of the community surrounding a project.
Discord
Aside from Twitter Discord is where its at for NFT projects. Discord is another messaging app where you join groups and discuss different topics in different channels. It’s a little more organized than Telegram but still extremely chaotic at times. There can be thousands of people messaging in a discord channel at one time making it hard to keep up with whats going on. But, there can also be great alpha in sifting through all the messaging. Discord is mainly used for NFT projects. If you buy an NFT they will usually have a Discord group you can join and discuss topics with other holders of the project. You can also find all the relevant information and current updates for the NFT project. Discord can be a mess and hard to follow but there are a few great groups you can follow and get incredible insights from as long as you are willing to filter through all the noise. Discord can also be a dangerous place. You will get bombarded with constant scammers in the direct messages trying to steal your funds. I recommend you don’t even open any messages from anyone you don’t know.
Other Tools and Resources
RealVision - This is a great service to learn more about the bigger long term picture of crypto and why it will be so important. They have great video interviews with all kinds of big names in crypto that will help you better understand whats going on. You can sign up for free. I highly recommend this service if you want to learn more about the Macro economy.
Youtube - Youtube is good for learning with “how to” videos for things such as wallet setup and configuration. Otherwise most crypto YouTubers you’ll find are just trash. I don’t recommend you use this as a main resource. There are a few good crypto YouTubers out there but you’re much better off using the above resources as your primary information.
defillama.com - For anyone interested in Defi this is the site for you. It shows you where all of the money in crypto is flowing. Knowing which protocols are attracting the most money can be a great alpha leak.
Coingecko- A must use resource in my opinion.
Coinmarketcap- similar to coingecko for tracking cryptos and finding info on them.
Dexscreener -Another must use resource for on chain investing. Its a way to see all the coins and their charts across all DEXs
NFT Analytics and Insights- Here is a complete google spreadsheet of basically the entire NFT infrastructure at the moment. You can find it all here if it has to do with NFTS.