First let me start with – L.O.L.

This was my biggest fail as an investor. I had no idea what I was doing and jumped on the bandwagon at the height of the crypto madness. So I basically bought super-duper high. I only have myself to blame for investing in a market I did not understand at all. I had major FOMO and sunk in around a 100,000 into this. I lost about 40% of what I put in, locked in those losses and exited the market, thanking my stars that I didn’t lose more.

I would probably not doing it again without gaining a lot more knowledge about it. Since it’s such a volatile market, I doubt if the hold-and-chill strategy would work for this.

You see, I’m an extremely lazy investor, anything that requires too much work, I simply know I cannot sustain. And by the looks of it, crypto needs a lot more research than the usual stocks and bonds. Plus its a highly unregulated market. Most of the crypto investors don’t actually know what they are ‘investing’ in, if you can call this investing even.

There are a lot of different resources if you are interested in this. I would suggest to read and understand more about what you’re putting your money in before putting it. Its not exactly vetted by experts, neither is it being held accountable for its ups and downs. No one (Ok I mean me), knows why it fluctuates so much or what its inherent worth is?

What is its value, really? I don’t really know. What is being backed by? It might be the future, but we are still ‘buying’ the currency with our hard earned money. Let’s think a little more before we take the plunge, or maybe you should read more of what I write because I’m always experimenting in these things, so let me take the risk for you. You can come here and LOL about this.

I’m not shelving crypto right away, but I do encourage that we read up about this a LOT more before we spend money on it. There are so many different resources for this. Let me list a couple which I have gone through and found useful 🙂

1. My go to page for all my basic investment questions: Investopedia – Decentralized Finance
2. This audiobook by Professor Campbell Harvey from Fuqua School of business is great! I took his coursera course which I found useful – DeFi and the Future of Finance – Audio book
3. And if you really want to deep dive, check out this specialisation in Fintech from Wharton – https://www.coursera.org/specializations/wharton-fintech
4. Here’s a great one on the problems with NFT and Crypto in general – Folding Ideas – Line Goes Up – The Problem With NFTs