How to Learn About Crypto

The 3 useful types of assets, crypto skills to learn, and the 4 ways crypto investors need to analyze cryptoassets.

3 useful types of assets:

  1. Yield. Ex) rental income from real estate, dividend from a stock.
  2. Store of value. Ex) gold, Bitcoin, real estate.
  3. Transformable/consumable. Ex) gas for car, wheat for eating.
  • Ethereum is the first asset that is all 3. This is why it is called the triple point asset.

Crypto skills to learn:

  1. Hold: Hold bitcoin on a cold storage wallet.
  2. Lend: Celsius or Aave/Compound.
  3. Borrow: Celsius or Aave/Compound.
  4. Stake: Earn yield on your crypto (Phantom wallet for Solana).
  5. Invest: Buy crypto, buy NFTs.
  6. Spend: Find a way to pay for something using the Bitcoin lightning network (Strike app).
  7. Earn: Coinbase earn, airdrops, signup bonuses.
  8. Trade: Swap on Uniswap, Pancake Swap, Raydium.
  9. Bet: Find a DeFi way to bet on presidential elections, sports games, etc.
  10. Security: Find the best storage solutions to stay safe. Wallet types/custody/security level.
  11. Taxes: Know how to minimize how much you pay in taxes.
  12. Study: Banks and protocols, wallets, and the history of money.

4 ways crypto investors need to analyze crypto:

  1. Financial: Practice some kind of valuation modeling. Do technical analysis. Do on-chain analysis. Figure out these questions: Is the blockchain profitable right now (protocol revenue)? How can it become profitable?
  2. Technical analysis: Analyze the code, read white papers, understand new proposals, understand web 3 stack, analyze layer 2s/apps/stack.
  3. Test the user experience: (1) Put some bitcoin onto a hardware wallet and loan some on Celsius. (2) Put some Ethereum in a MetaMask wallet and play around with DeFi apps. (3) Put some Solana in Phantom wallet, stake (earn yield), and try some Solana DeFi apps.
  4. Culture: Join a DAO, buy an NFT, join a crypto Discord.

Based on videos and articles from Bankless.