How to get an edge over other crypto investors!
📢 Huge announcement!
Over the next week, I will be launching my new spreadsheet, this one is focused on long-term investing.
My previous spreadsheet for passive income was a massive success, over 150 people are now using it, but I do understand that not everybody is into passive income.
But, if you are investing for the long term, you need to track your journey and investments.
I spent countless hours studying other portfolio trackers to create one more robust with all the tools they were lacking.
Here’s just a tip of what you get:
- The total crypto market cap and daily movement
- Total DeFi market cap
- Quickly scan over various TVL ecosystems
- Best/worst investment in dollar and percentage amounts
- Know your investment across different categories
- Estimation of gains if the price goes back to all-time high
- Coin screener with ranking, price, market cap, supply, ATH, last 24h volume, and more.
- Ledger to keep track of every transaction.
Set of tools;
- Coin converter
- Profit estimator
- Lower your avg entry calculator
- Check what would ETH cost with BTC market cap [You can use the coins of your liking]
Tons of graphics to understand where you at, and some other goodies that are a surprise 😏
And the best part? Everything is automated with live prices and data!
This is the pre-sale, so you are buying for 44% less than the normal price, and will receive other goodies that will not be available for later buyers
- Access to my discord group
- Access to all my crypto research (only for early buyers)
- Priority support
- Support and show love to your friend Max
Link to the spreadsheet: 👇👇https://defichronicles.gumroad.com/l/biytt
How to DYOR
That’s enough self-promoting, now let’s get back to business.
Just like in business and life, you need an edge to do well. Here’s how I do my own crypto research plus I also added a link to my latest on dYdX.
Here’s the link if you want to follow along
I look at crypto projects like businesses, because they are.
1- Understand what the protocol does
Never invest just because of FOMO. First, try to use it, or at least understand what are the problems they are solving.
dYdX is a decentralized trading platform. They have an IOS app which is an edge, and they are also building their own blockchain to have cheaper and faster transactions.
2- How much money is on the protocol
Understanding TVL is a must. Tools like Defillama and Token terminal can help you with that.
If it is a blockchain you can also check what projects are built under it, and how much capital is invested in them.
More capital = more growth.
3- Metrics, metrics, metrics
Compare market cap with similar projects to evaluate what could be future growth, their token supply, and all-time high.
You can find these metrics using Coingecko or CoinMarketCap
4- Business model and revenue streams
As I said, crypto is business. And without a revenue stream, a project is BS.
dYdX makes money from trading fees, and people are currently taking over 400M per day in trade volume. A small fee on that volume is amazing!
5- Price action
In the end, we are all in this for the money. Check the chart, where are you buying today and where can it go?
dYdX is at $1.5 but their all-time high is at $27. There’s a possibility to make an 18x.
6- Technology
What are they using? Are they better than the competition? Will their technology be around in 5 years? Are there better options?
7- Direct competition
The fewer people using a protocol the less money it makes. Check their direct competition and see how and why they might lose market share.
Are they covering what their competition is covering?
8- Tokenomics and token unlocking
Token unlock websites do a great job of showing the different vesting periods of unlocking.
The more supply there is on a token the worst it is. If supply overpowers demand, the price will fall.
But, not every unlocking is created equal. An unlocking for developers is not the same as unlocking for investors.
Investors sell, and developers build.
9- Benefits of holding their token
The fewer coins are in circulating the better, so if there are any incentives for people to hold their coins the better.
Of course, always analyze if these incentives will not damage the protocol over the long run.
10- Conclusion
Draw your conclusion in 2 paragraphs, what you understood, what you like and don’t like.
If you’ve made it here, you are amazing! Researching is not easy but that’s why not everybody does it.
So by doing it you will always have an edge over other investors.
📚 Your Homework:
Choose a project of your liking and use my research as an example to do yours. Also, add your style and make it even better.
Then send it to me, I would love to read it!
Want to support?
Share this with a friend, and leave a like.
You can also purchase my new spreadsheet and make my day!
Or feel free to grab something from my merch store. 💜
https://defichronicles.sellfy.store
Disclaimer: This is not financial advice, I am just a guy with a laptop sharing his opinions and experience. This is for entertainment purposes only. Always Do your own research before investing.
