I wrote an ELI5 of every coin on Coinbase
2 min read
I’ve found that many tokens intentionally try to overcomplicate what they are bringing into the crypto ecosystem. And as a crypto enthusiast who first bought bitcoin in a barnes and noble off localbitcoins in 2013, I consider myself a Bitcoin Maxi — but all my biggest gains have actually come from altcoins. Remember that ether itself was once considered an altcoin. In my 9 years in crypto, from what I’ve seen historically, here are the two best things you can do during crypto winter:
DCA into bitcoin. Study and pick your alts.
A lot well-known coins in 2018 still went on to produce 10-100x gains. Here are some prices for reference on Dec 22, 2017 — right after Bitcoin fell 30% over the course of just two days:
BNB: $5.54 Link: $0.57 KuCoin: $0.88
As I mentioned above, one of the bad things about the crypto industry is that people try to it make more complicated than it actually needs to be. Bitcoin needs a white paper; the latest monkey pox inu coin doesn’t. This is why I wrote an ELI5 Description of Every Coin on Coinbase. A few well placed investments into the right alts while dollar cost averaging into BTC/ETH has historically been the best bear market strategy — and there is no reason to think this time around is any different.
Even more important than picking the right alts is to set up a DCA strategy and stick to it. I like to keep my crypto investments proportional to how much money I’m actually spending day to day, so I actually wrote myself a lightweight app that rounds up my everyday purchases and invests the spare change into my coinbase portfolio and actually published it to the app store / play store. It connects through Plaid and Coinbase, so it’s secure and your funds actually purchased through and held in Coinbase. It’s also completely free and charges no additional fees, margin, commission, and requires no subscription. It literally makes no revenue in any way, and ironically I built it because I really don’t like Coinbase. My eventual goal is to build something that is as easy to use as something Voyager/Celsius but non-custodial, so no one (like Mashinsky) can run away with users funds.
TLDR: Study your alts, DCA into btc, and cash in on the next bull run.
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