To help them in this endeavor, entrepreneur and crypto education YouTuber Jordan Welch spoke to several of crypto’s richest investors at the Bitcoin 2022 conference in Miami and they shared important tips in a video posted on April 10. Welch’s question was simple – “What’s the best way to make money with crypto?” – but he got plenty of useful input, with four pieces of advice standing out the most:
#1 Start small
Welch first spoke to Kevin O’Leary, a television presenter and entrepreneur who sold his business for $3.7 billion dollars. O’Leary recommended starting small, putting a small amount of money in your crypto wallet you can afford to lose (for example $200), and focusing on five major cryptocurrencies:
#2 Use free education
O’Leary also advised using free online resources on cryptocurrency trading that he believes are abundant, as this is what truly helped him get started: Michael Saylor, the owner of MicroStrategy which currently holds more Bitcoin than any other public company in the world, echoed the significance of free education. He especially recommended Hope.com and his website Saylor.org which has a 12-hour free class on Bitcoin.
#3 Don’t fear failure
Brian Jung, who is a highly successful investor and the owner of one of the largest crypto channels on YouTube, highlighted the importance of not being afraid of failure if you’re a beginner in the crypto market.
#4 Learn from mistakes
Furthermore, Jung believes that mistakes and failure are a great source of learning, as he explained: His point is similar to that of O’Leary who said that “everybody loses money in the beginning.” For instance, if you lose your investment over an incident like a hack, you’ll still learn from it – “figure out who hacked you, why they hacked you, and what you did wrong about security” – hence the importance of starting small.
