The Monday mindset: 17 July 2017
Here are ten from Twenty Thirty
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye.
This week, David Siegel, CEO of Twenty Thirty, a Swiss-based blockchain company, offers up “Ten Simple Rules for Crypto-Investing”.
1. Put a small amount of money, like $100, into an exchange account. Use a reputable exchange like Lykke, Coinbase, Kraken etc.
2. Buy some cryptocurrencies to learn about them.
3. Go to YouTube and watch videos on crypto-investing, cold storage, security, talks at recent events etc.
4. Read about new developments at fintech magazines etc.
5. Dedicate no more than 10% of your entire investment portfolio to crypto-investments.
6. Diversify! Plan to buy at least ten coins/tokens. Learn about index investing online.
7. Carve out about one third of your money. Put this third into Bitcoin, third into ether, and one third into 3-5 other coins/tokens you like.
8. Wait and watch. The volatility will almost certainly present buying opportunities.
9. Work your way into your portfolio over time. If prices go down, buy more. Plan to be fully invested within 12-24 months.
10. After you buy, put your coins into cold storage. Don’t trade. Buy and hold for the long run.
Last week’s Monday mindset looked at India’s Goods and Service Tax (GST) and whether it’s an opportunity for fintech firms.
If you’re interested in contributing to our Monday mindset, contact our editorial team.
