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Abbas

@abbas

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166 Followers
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There’s nothing more important in your 20s especially in crypto than to create a smooth pipeline for 1. Banking services/solutions • Ideally 2-3 diverse providers • Different currencies and geographies 2. Clean and liquid onramps/offramps 3. Clear documentation of transaction history and all gains/losses 4. Use services that can help you clean up your paperwork wherever necessary • Tax filings, incorporation, etc Way too many young minds are corrupted by internet anons and have started to parrot the whole “compliance bad”, and just presumably adopted anarchy Not how the world works and the upside of keeping your noses clean and shit together is higher than earning internet brownie points with people that barely have a life outside this app I usually share a lot of this information with friends or those around me but felt like the least I could do is make this post so at least some of you could be saved
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Things you should avoid if you’d like to protect your capital, survive the chop and not be left without enough dry powder when the opportunity presents itself 1. Too much exposure to illiquid jpegs -> These things need an overall chain wealth effect but when the native tokens rally most jpegs get rugged and do not outperform the native asset. Also insanely illiquid, you’ll undercut your own prices, so consider a 20% slippage even on low liquidity collections 2. Nano/Micro cap shitters -> This is pretty obvious. At the least go for small or mid cap shitters mate 3. Angel deals -> This is the worst. I’ve absolutely outperformed every single one that’s come my way in liquid markets. That doesn’t mean I don’t do it. It just means when I do, I truly believe in the team or I’m willing to burn some capital to learn something new or gain exposure to X Also way too overpriced, the bear will have plenty good opportunities. This industry isn’t done yet.
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