facebookFOMO but find crypto confusing. Should I look at any stocks or etf that tracks crypto/ blockchain instead? - Seedly

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Anonymous

13 Nov 2021

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Cryptocurrency

FOMO but find crypto confusing. Should I look at any stocks or etf that tracks crypto/ blockchain instead?

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Cryotosensei

19 Nov 2021

Blogger at diaperfinancingfund.blogspot.com

Honestly, no. Because there are many ways to get crypto with some/very little effort. I will suggest that you get a Coinbase account, get your KYC done and do the Learn and Earn lesson. After I wrote this article, https://seedly.sg/opinions/learn-and-earn-with-... , I earned $10 worth of Stellar (XLM) in less than 5 minutes and converted it into S$12 worth of Bitcoin.

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Settling KYC is a pain in the ass but itā€™s so worth it!

Everything is confusing to begin with. The point is wanting to learn and then actually starting.

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Don't FOMO into assets. FOMO into resources and go from there. Uncommon Core is a great podcast for deep dives into the industry, its philosophy and some asset specific topics. Bankless is definitely a great podcast (and newsletter) along with The Defiant.

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While some may suggest you just pick a bunch of assets and go from there, I'd suggest picking a stablecoin and trying to go down the "DeFi rabbit hole". Deploy some USDC into a DeFi protocol, see how it works, see how the yields, work. Don't gamble but getting your hands dirty is actually a great way to start understanding how these different services work.

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BTC & ETH exposure is indeed a great and reasonable place to start but to be fair at this point you probably aren't going to make massive upside in the short term versus exposure into other assets. The problem is being able to decide which of the assets to explore and thats where learning via public resources + getting your hands dirty comes into play.

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Good luck! We all started somewhere!

You can try opening an account with Gemini and buy maybe $150-$200 worth of Bitcoins or Ether.

No harm trying and get yourself familiar with it first.

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Use this link to get $10 worth of Bitcoins. Easy to Signup using Singpass.

https://gemini.com/share/88pg5y7s9

Benjamin Cheong

18 Nov 2021

BSc Business at Singapore University of Social Sciences

Don't take any action yet. Always DYODD. Spend a week or two to read up about crypto, how it came into fruition and it's intended purpose, etc. Then make a decision after.

Bang Hong

18 Nov 2021

Sustainable Spender Specialist at Spender Bang

My friend found crypto confusing also, but still asked me about it. For me I know alot about it but ...

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