Curious About Crypto? Here’s What 10 Financial Experts Think

Everyday investors are overflowing with cryptocurrency questions, according to the financial advisors hired to answer them.

There is clearly an “emotional euphoria that seems to be sweeping through the public around cryptocurrency,” says Frederick Stanfield, a CFP with Lifewater Wealth Management in Atlanta, Georgia.

But for the average person focused on retirement planning and financial stability, is it time to consider investing in cryptocurrency?

The answer is complicated, so we asked financial advisors for their crypto advice, and here’s what 10 of them are telling clients. In an emerging field with few set rules and norms, we discovered some universal truths that everyone should know before putting money in cryptocurrency.

First of all, financial advisors say a healthy dose of skepticism is a crucial place to start, and you should never invest in crypto if it takes away from other goals and financial fundamentals like paying off debt, building an emergency fund, or maxing out your retirement accounts.

As difficult as it may be, do not become seduced by the intrigue and allure of this new technology, says Stanfield. Instead, employ the same mindset you bring to your regular investment strategy.

Here’s what else the experts want you to know about cryptocurrency investing:

Be Prepared for Loss

As with any investment, financial gains are far from guaranteed with cryptocurrency investing. For some financial advisors, crypto looks more like a lottery ticket than an investment strategy.

That means you should only put in what you’re OK with losing. “On a spectrum between gambling and investing, I think it’s closer to the former,” says Matt Morris, principal advisor at Sanderling Finance in Columbia, South Carolina.

As a high-risk, high-reward investment, keep any crypto investments in perspective amid your broader goals and finances. As with certain types of gambling, “you have a high chance of losing it all, but a small chance of winning it big,” says Nate Nieri, a CFP with Modern Money Management in San Diego, California. “Just don’t gamble an amount that would burden your family or prevent you from achieving your goals” if you lost it all.

Steer Clear if You’re Risk Averse

If you’re risk averse, crypto isn’t the investment for you.“How well can you sleep at night knowing that this is an emerging asset class with high volatility? And if you were to wake one morning to find that crypto has been banned by the developed nations and it became worthless, would you be OK?” asks Stanield.

If you’re going to be constantly stressing about your crypto investment, or tempted to change your investments in light of the volatility that comes with crypto, then you’re better off putting your money in a more stable investment, according to Stanfield.

“I believe it is still in its infancy stage, and just like any new fund or IPO, there is a level of uncertainty about the future that I’m not ready to stomach,” says Alajahwon Ridgeway, owner of Ridgeway Wealth Management in Lafayette, Louisiana. “I believe it … is an unnecessary risk at this point for my clients to reach their financial goals.”

There’s also far less historical data available about cryptocurrency to help investors make informed decisions — unlike conventional ETF and index/mutual funds. Crypto investors face additional risk in the form of poor or inaccurate trade data, competition among fellow investors, theft, loss of wallet passwords, supply and demand issues, government regulation, and energy consumption concerns, says Chelsea Rude, a CFP at Rude Wealth Advisory in Olney, Illinois.

“Most importantly for investors, there is a lack of a well designed and tested way to value the assets,” Rude says. This means crypto investors are essentially going in blind, and subjecting themselves to the uncertainty that comes with any new business or investment

Know Why You’re Interested In the First Place

Some people see crypto as an emerging investment, while others see it as an interesting new global currency you can use instead of the U.S. dollar or other international currencies. But whether crypto has long-term staying power on either front is still uncertain.

“I strongly believe the vast majority of people who own crypto currency are doing so for all the wrong reasons and misunderstanding what they are truly buying,” says Ben Lies, chief investment officer at Delphi Advisers.

Many experts are concerned about people dumping their money into crypto without real understanding of the area. Do your own research, and make sure you’re thinking about your investment in the right way.

“Hype and excitement around the space are not reasons for inclusion into any portfolio, but I believe there are compelling reasons to consider cryptocurrencies,” says James Vermillion, owner of Vermillion Private Wealth in Lexington, Kentucky. “When discussing crypto with clients I emphasize education and understanding. It’s important to note that there are thousands of cryptocurrencies in existence and they are not created equally. Due diligence is important, just as it is when looking at stocks or other investment vehicles.”

Nieri warns those who see Bitcoin as a currency to think about what that means for investing. “I don’t typically trade or have a currency hedge as part of my investment strategy. Would you have ever thought about trading dollars for Euros as an investment? In order for Bitcoin to be a legitimate currency, the world’s governments would need to accept it as a global currency, something that has a remote likelihood,” Nieri says.

Keep Crypto In Its Place

Don’t rely on crypto investments for your retirement or overall financial strategy. Make sure the majority of your investment portfolio is made up of stable assets projected for long-term growth.

“What I am sharing for [my clients] to do is build their future financial pie with investments such as stocks and bonds. If there is extra money they want to play with, buying crypto is an option,” says Eric Powell, financial advisor and founder of the Future Mill.

Make sure your overall investment portfolio is predominantly made up of conventional investments like stocks and bonds, says Powell. But within any crypto investments you might have, experts recommend sticking with the big names.

“I personally do not go beyond Bitcoin and or Ethereum,” says Michael Kelly, a CFA at Switchback Financial in Madison, Connecticut. “I feel those two have a bit more of an established base and feel the risk of other coins becomes too significant.”

By: Ryan Haar

Source: Curious About Crypto? Here’s What 10 Financial Experts Think | NextAdvisor with TIME

Decentralized finance (commonly referred to as DeFi) is a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum.^[1] DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts.^[2]

DeFi uses a layered architecture and highly composable building blocks.^[3] Some DeFi applications promote high interest rates^[2] but are subject to high risk.^[1] By October 2020, over $11 billion (worth in cryptocurrency) was deposited in various decentralized finance protocols, which represented more than a tenfold growth during the course of 2020.^[4]^[2] As of January 2021, approximately $20.5 billion was invested in DeFi.^[5]

References

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“Why ‘DeFi’ Utopia Would Be Finance Without Financiers: QuickTake”. Bloomberg. 2020-08-26. Retrieved 2020-10-06.
Schär, Fabian. “Decentralized Finance: On Blockchain- and Smart Contract-Based Financial Markets”. Federal Reserve Bank of St. Louis Review. doi:10.20955/r.103.153-74. Retrieved 2021-04-17.
Ehrlich, Steven. “Leading ‘Privacy Coin’ Zcash Poised For Growth Following Placement On Ethereum”. Forbes.
Ponciano, Jonathan. “Ether’s Market Value Surges $20 Billion In One Day While Bitcoin Prices Slow–Here’s Why”. Forbes.
“Why ‘DeFi’ Utopia Would Be Finance Without Financiers: QuickTake”. Bloomberg.com. 2020-08-26. Retrieved 2021-01-26.
Stabile, Daniel T.; Prior, Kimberly A.; Hinkes, Andrew M. (2020-07-31). Digital Assets and Blockchain Technology: US Law and Regulation. Edward Elgar Publishing. ISBN 978-1-78990-744-5.
“What’s ‘Yield Farming’? (And How Do You Grow Crypto?)”. The Washington Post. 2020-07-31. Retrieved 2020-10-05.
“Crypto Is Beating Gold as 2020’s Top Asset So Far”. Bloomberg. 2020-09-22. Retrieved 2020-10-05.
“Coders Flock Back to Crypto Projects With Prices Surging Again”. Bloomberg.com. 10 December 2020.
“Novogratz Plows Ahead In DeFi Amid the ‘Gamifying’ of Crypto”. Bloomberg. 2020-09-29. Retrieved 2020-10-06.
Decentralized Finance (DeFi): An Emergent Alternative Financial Architecture. Regulation of Financial Institutions eJournal. Social Science Research Network (SSRN). Accessed 20 April 2021.
Schroeder, Stan. “Crypto wallet MetaMask finally launches on iOS and Android, and it supports Apple Pay”. Mashable.
“MetaMask’s Blockchain Mobile App Opens Doors For Next-Level Web”. Bloomberg.com. 2 September 2020.
Wilson, Tom (2020-08-26). “Boom or bust? Welcome to the freewheeling world of crypto lending”. Reuters. Retrieved 2021-04-08.
“Flash Loans Are Providing Instant Cash to Crypto Speculators”. Bloomberg.com. 2021-02-07. Retrieved 2021-04-08.
Evans, Jon (February 18, 2020). “DeFiance: billion dollar finance, million dollar hacks, and very little value”. TechCrunch. Retrieved 22 November 2020.
“Crypto Exchange Gets Millions After Copy-Paste of a Rival’s Code”. Bloomberg. 2020-09-11. Retrieved 2020-10-06.
Kharif, Olga (October 16, 2020). “DeFi Boom Makes Uniswap Most Sought-After Crypto Exchange”. Bloomberg.com. Bloomberg. Retrieved 7 November 2020.
“Boom or bust? Welcome to the freewheeling world of crypto lending”. Reuters. 2020-08-26. Retrieved 2020-10-06.

Braun, Alexander; Cohen, Lauren H.; Xu, Jiahua (May 2020). “fidentiaX: The Tradable Insurance Marketplace on Blockchain”. Harvard Business School. Retrieved 2021-01-05.

If you’re sitting on at least $1,000 and it’s scratching an itch in your pocket, consider investing it rather than spending it on something frivolous. But the question that then beckons us is: Can you really make money quickly investing with just $1,000?

The answer to that is a resounding, “Yes.”

While there are plenty of ways you can make money fast by doing odd jobs or generating it through things like affiliate marketing or email marketing, actually making money by investing with just $1,000 might present more challenges, and frankly, more risks. That is, of course, unless you know what you’re doing.

However, all risks aside, even if you’re living paycheck-to-paycheck, you still may be able to conjure up $1,000 to put towards an investment if you’re creative.

Before you dive in, there are some mindset principles that you need to adhere to. Moving beyond the scarcity mentality is crucial. Too many of us live our lives with the notion that there’s never enough of things to go around — that we don’t have enough time, money, connections or opportunities to grow and live life at a higher level.

That’s just a belief system. Think and you shall become. If you think you can’t get rich or even make a sizable amount of money by investing it into lucrative short-term investment vehicles, then it’s much more of a mindset issue than anything else. You don’t need to invest a lot of money with any of the following strategies.

Sure, having more money to invest would be ideal. But it’s not necessary. As long as you can identify the right strategy that works for you, all you need to do is scale. It’s similar to building an offer online, identifying the right conversion rate through optimization, then scaling that out. If you know you can invest a dollar and make two dollars, you’ll continue to invest a dollar.

Start small. Try different methods. Track and analyze your results. Don’t get so caught up on how you’re going to get wildly rich overnight. That won’t happen. But if you can leverage one of the following methods to make money by investing small, short bursts of capital, then all you have to do is scale — plain and simple. You don’t have to overthink it.

How to invest $1,000 to make money fast

If you have $1,000 to invest, you can make money a variety of ways. But there are some methods that trump others. The play here is speed. We’re not talking about long-term, buy-hold strategies. Those are terrific if you’re looking to invest your capital over at least a two- to five-year period. We’re talking about ways you can make money fast.

Even when it comes to markets that might take time to move or have longer cycles, investments can often turn into realized profits and quick gains by leveraging the right strategies. What’s the right strategy? Sure, long-term works. Real estate and other time-intensive strategies will eventually get you there.

Raghee Horner of Simpler Futures says that “long-term interest rates are the next big trade,” while Jim Cramer of Mad Money says that “there are tons of people who are late to trends by nature and adopt a trend after it’s no longer in fashion.” By jumping in and out of long-term investments like that, you’re far more likely to lose your shirt than if you time your short-term plays just right.

It’s not so much about trying to catch the latest trend. It’s not about becoming a webinar guru like Jason Fladlien or Liz Benny — or even building out sales funnels or optimizing your conversions. Investing your money is more about paying careful attention to indicators that can really move the needle in the short-term as opposed to the longer term. It’s also about leveraging and hedging your investments the right way without putting too much risk on the line.

That doesn’t mean that you don’t need a long-term strategy. You definitely do. But if you’re looking to create some momentum and generate some capital quickly, in the near-term, then the following investment strategies might help you do just that.

1. Play the stock market.

Day trading is not for the faint of heart. It takes grit and determination. It takes understanding the different market forces at play. This isn’t something intended for amateurs. But, if learned and learned well, it is a way where you can quickly — within the span of hours — make a significant amount of money with a relatively small investment.

There are also ways to hedge your bets when it comes to playing the stock market. Whether you play the general market or you trade penny stocks, ensure that you set stop-loss limits to cut any potential for significant depreciations. Now, if you’re an advanced trader, you likely understand that market makers often move stocks to play into either our fear of failure or our greed. And they’ll often push a stock down to a certain price to enhance that fear and play right into their pockets.

When it comes to penny stocks, this is further exaggerated. So you have to understand what you’re doing and be able to analyze the market forces and make significant gains. Pay attention to moving averages. Often, when stocks break through 200-day moving averages, there’s potential for either large upside or big downside.

2. Invest in a money-making course.

Investing in yourself is one of the best possible investments you can make. While you might not be able to pinpoint an actualized return on investment, there’s no money that’s better spent. Invest in yourself. Invest in your education. Learn. Adapt. Grow. Discover what you’re passionate about.

There are loads of money-making courses on the internet. The hard part is choosing the right one. From ebooks to social media marketing, search engine optimization and beyond, the possibilities are endless. While many money-making gurus might pop up on social media, not all courses are created alike. Spend time doing your due diligence and research to choose the one that’s right for you.

3. Trade commodities.

Trading commodities like gold and silver present a rare opportunity, especially when they’re trading at the lower end of their five-year range. Metrics like that give a strong indication on where commodities might be heading. Carolyn Boroden of Fibonacci Queen says, “I have long-term support and timing in the silver markets because silver is a solid hedge on inflation. Plus, commodities like silver are tangible assets that people can hold onto.”

The fundamentals of economics drives the price of commodities. As supply dips, demand increases and prices rise. Any disruption to a supply chain has a severe impact on prices. For example, a health scare to livestock can significantly alter prices as scarcity reins free. However, livestock and meat are just one form of commodities.

Metals, energy and agriculture are other types of commodities. To invest, you can use an exchange like the London Metal Exchange or the Chicago Mercantile Exchange, as well as many others. Often, investing in commodities means investing in futures contracts. Effectively, that’s a pre-arranged agreement to buy a specific quantity at a specific price in the future. These are leveraged contracts, providing both big upside and a potential for large downside, so exercise caution.

4. Trade cryptocurrencies.

Cryptocurrencies are on the rise. While trading them might seem risky, if you hedge your bets here as well, you could limit some fallout from a poorly-timed trade. There are plenty of platforms for trading cryptocurrencies as well. But before you dive in, educate yourself. Find courses on platforms like Udemy, Kajabi or Teachable. And learn the intricacies of trading things like Bitcoin, Ether, Litecoin and others.

While there are over 3,000 cryptocurrencies in existence, only a handful really matter today. Find an exchange, research the trading patterns, look for breakouts of long-term moving averages and get busy trading. You can use exchanges like Coinbase, Kraken or Cex.io, along with many others, to make the actual trades.

5. Use peer-to-peer lending.

Peer-to-peer lending is a hot investment vehicle these days. While you might not get rich investing in a peer-to-peer lending network, you could definitely make a bit of coin. Which lending platform do you use? Today, there are many to choose from, but the most popular ones include Lending Club, Peer Form and Prosper.

How does this work? Peer-to-peer lending platforms allow you to give small bursts of capital to businesses or individuals while collecting an interest rate on the return. You get more money than you would if you placed it in a savings account, plus your risk is limited because the algorithms are doing much of the work for you.

Once you identify the offer, you can dig in and do some research — then, you can either take the deal or not. You’ll have your risk evaluated based on a proprietary algorithm that includes employment and credit history, and you’ll be able to make the decision to invest based on a variety of well-thought-out data.

6. Trade options.

When it comes to options, Tom Sosnoff at Tastyworks says, “Trade small and trade often.” What type should you trade? There are loads of vehicles, such as FOREX and stocks. The best way to make money by investing when it comes to options is to jump in at around 15 days before corporate earnings are released. What type should you buy? Money calls.

The optimal time to sell those money calls is the day before the company releases its earnings. There’s just so much excitement and anticipation around earnings that it typically drives up the price, giving you a consistent winner. But don’t hold through the earnings. That’s a gamble you don’t want to take if you’re not a seasoned investor, says John Carter from Simpler Trading.

7. Flip real estate contracts.

Making money with real estate might seem like a long-term prospect, but it’s not. There are ways you can take as little as $500 to $1,000 and invest it in flipping real estate contracts to make money fast. How? Use a system like Kent Clothier’s REWW to first understand how the market works. It’ll then provide you with the data and tools to identify vacant homes, distressed sellers and cash buyers.

While most people think that real estate is won by flipping traditional homes and doing the renovations yourself, the fastest money you can make in real estate involves flipping the actual contract itself. It’s arbitrage. Identify the motivated sellers and cash buyers, bring them together and effectively broker the deal. It might seem odd on the first go, but once you get the hang of it, you can become a mini-mogul in the real estate industry by simply scaling out this one single strategy. It works, and it’s touted by some of the world’s most successful real estate investors.

R.L. Adams

By: R.L. Adams / Entrepreneur, software engineer, author, blogger and founder of WanderlustWorker.com

Source: 7 Quick Ways to Make Money Investing $1,000

10 Largest Venture Rounds In Crypto And Blockchain

Venture capital

The cryptocurrency industry is steaming hot. The total market value of cryptocurrencies is approaching $2 trillion – that’s bigger than the market caps of Amazon, Google and Microsoft. Bitcoin has been trading above $50,000 since March 8 and has a market value of $1.12 trillion, almost as much as all the silver in the world. FOMO-ed institutions keep pouring into the space.

Tesla will start accepting payments for its electric vehicles in bitcoin, adding the cryptocurrency to its $2.5 billion bitcoin trove. One of the oldest banks in America, BNY Mellon, has launched a digital assets unit, Goldman Sachs has relaunched its crypto trading operations, JPMorgan has introduced a structured note offering tied to a basket of stocks with exposure to bitcoin, Morgan Stanley and Goldman Sachs have become the first major U.S. banks to offer ther wealthy clients direct access to bitcoin.

But institutions and venture firms rushing to cash in on the surge don’t come empty-handed. Hoards of capital are pouring on crypto startups, minting new unicorns at a break-neck pace. Just in March, three crypto firms raised some of the largest capital raises in the industry’s short but rich history. There are now at least 18 crypto-native companies with unicorn status, according to data platform PitchBook.

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In the heyday of ICOs, companies raised billions but the hype was short-lived. Low-quality projects, multiple scams, and the lack of institutional and regulatory oversight led to what is now known as the Great Crypto Crash of 2018, when an index that tracks the performance of the 10 largest and most liquid digital assets plunged by 80%.

Crypto bulls are hoping that this time it is truly different. Publicly listed companies like MicroStrategy and Square have amassed sizable bitcoin positions on their balance sheets and are seeing it as an alternative to gold. Meanwhile applications for a U.S. bitcoin ETF are piling up at the SEC’s doorstep and the market is buzzing in anticipation of Coinbase’s direct listing slated for April 14, the first major public offering for a cryptocurrency company. Amid the frenzy, Forbes analyzed data from PitchBook and compiled a list of the 10 largest venture capital deals for blockchain and crypto-native firms.

Simply Tech

Inside Bitmain, the world’s largest Bitcoin mine. The rush to mine Bitcoin and other crypto currencies has gripped the world. China is home to most of the world’s bitcoin mines, and Inner Mongolia has one of the largest. Today, we take a look inside the Bitmain mine and how it works. If you enjoyed, please, like, comment and subscribe, it helps us a lot! Thanks for watching this video: Inside The World’s Largest Bitcoin Mine Check Out These Videos:

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Bitmain: $422 million

Deal date: August 7, 2018

VC round: Series B1

Notable investors: Crimson Capital China, Bluebell (Asia), Jumbo Sheen Group, Lioness Capital, Palace Investment Company, Pavilion Capital

Post-money valuation: $15 billion

Previous valuation: $12 billion

The world’s leading bitcoin mining hardware manufacturer, Bitmain also operates Antpool, one of the top bitcoin mining pools, accounting for more than 12% of bitcoin’s network hash, or computational, power. Shortly after the $422 million capital raise, the Beijing-based company filed for an IPO on the Hong Kong Stock Exchange in September 2018, but the offering fell through amid the bitcoin crash and market cooldown.

BlockFi: $350 million

Deal date: March 11, 2021

VC round: Series D

Notable investors: Bain Capital Ventures, partners of DST Global, Pomp Investments, Tiger Global, Susquehanna Government Products

Post-money valuation: $3 billion

Previous valuation: $435 million

Founded in 2017, New-Jersey based BlockFi is now one of the leading cryptocurrency lending providers. Its products span multiple categories including crypto-collateralized loans and interest-bearing accounts through which investors can earn interest on their crypto holdings. Rumors of BlockFi’s potential IPO started to circulate last July following reports of a job opportunity, part of which involved helping the company go public.

Dapper Labs: $305 million

Deal date: March 30, 2021

VC round: 5th round

Notable investors: Coatue Management, Andreessen Horowitz, Michael Jordan, Kevin Durant

Post-money valuation: $2.6 billion

Previous valuation: N/A

The Vancouver-based startup is best known as the developer of NBA Top Shot, an NFT marketplace for basketball video highlights or “moments.” The project, which has already surpassed the $400 million mark in trading volume, is largely responsible for the boom of non-fungible tokens (NFTs), essentially digital proofs of ownership trackable on a blockchain. Earlier, Dapper Labs developed a popular Ethereum game of breedable collectibles called CryptoKitties.

Blockchain.com: $300 million

Deal date: March 24, 2021

VC round: Series C

Notable investors: DST Global, Lightspeed Venture Partners, VY Capital

Post-money valuation: $5.2 billion

Previous valuation: $3 billion

Blockchain.com provides a variety of crypto services to retail and institutional clients but is most famous for its non-custodial digital wallets. Unlike its counterparts controlled by third parties, these wallets give users full control over their private keys that represent ownership of crypto assets. The London-based company claims it has processed 28% of all bitcoin transactions since 2012.

Bakkt: $300 million

Deal date: March 16, 2020

VC round: Series B

Notable investors: Intercontinental Exchange (ICE), BCG Digital Ventures, PayU

Post-money valuation: N/A

Previous valuation: N/A

In February 2020, the crypto venture of ICE (the New York Stock Exchange owner) announced the acquisition of Bridge2 Solutions, provider of loyalty programs, to power Bakkt’s one-stop shop retail platform. Called Bakkt App, the service lets users aggregate various digital assets, including loyalty points, rewards programs, gaming assets, and cryptocurrencies, all in one wallet. In January, Bakkt announced it is going public via a SPAC merger with VPC Impact Acquisition Holdings at an enterprise value of about $2.1 billion. Upon the deal’s closure in the second quarter of 2021, the combined company will list on the New York Stock Exchange as Bakkt Holdings, Inc.

Coinbase: $300 million

Deal date: October 30, 2018

VC round: Series E

Notable investors: Tiger Global Management, Andreessen Horowitz, Government of Singapore Investment Corporation (GIC), Polychain Capital

Post-money valuation: $8.04 billion

Previous valuation: $1.71 billion

On February 25, the largest cryptocurrency exchange in the U.S. filed for a direct listing on the Nasdaq stock exchange. Coinbase was valued at $68 billion, based on the recent filings. On March 19, the company was fined $6.5 million by the Commodity Futures Trading Commission (CFTC) over allegations of false transactions reporting and wash trading between 2015 and 2018 on its GDAX platform, later rebranded as Coinbase Pro. The exchange’s direct listing is scheduled for April 14.

Bitmain: $292.7 million

Deal date: June 19, 2018

VC round: Series B

Notable investors: Sequoia Capital, Coatue Management, China Taijia, Blue Lighthouse Services

Post-money valuation: $12 billion

Previous valuation: $100 million

Hangzhou Qulian Technology: $235 million

Deal date: June 4, 2018

VC round: Series B

Notable investors: Xinhu Zhongbao Company, China Gaoxin Investment Group, State Development and Investment Corporation

Post-money valuation: $470.25 million

Previous valuation: $40.33 million

Qulian Technology provides blockchain products for China’s major organizations and institutions, including the Ministry of Industry and Information Technology, the State Administration for Market Regulation, the State Grid, and local governments. Its one-stop blockchain open service BaaS platform, FiLoop, is used by some of the largest banks in China, including China Construction Bank, Agricultural Bank of China, and China Merchants Bank, according to the company. Qulian Technology’s partners also include Google and Microsoft.

Bithumb: $200 million

Deal date: Apr 19, 2019

VC round: 2nd round

Notable investors: Vidente, ID Ventures (South Korea), ST Blockchain Fund

Post-money valuation: N/A, valued at $888.27 million as of January 2021

Previous valuation: $868.42 million

In September 2020, the Seoul Metropolitan Police Agency has reportedly raided the offices of one of South Korea’s largest crypto exchanges on fraud allegations, linked to a $25 million token sale that never materialized and led to losses for investors.

Ripple Labs: $200 million

Deal date: Oct 1, 2020

VC round: Series C

Notable investors: Tetragon Financial Group, SBI Holdings, Transform Capital, 10X Capital

Post-money valuation: $10 billion

Previous valuation: $410 million (2016)

In December, Ripple Labs and its top executives were accused by the U.S. Securities and Exchange Commission of selling $1.3 billion of XRP, the native asset of the payments network developed by the company, as an unregistered security. Following the charges, multiple exchanges and trading platforms, including Coinbase, Binance.US, and eToro, delisted XRP and suspended its trading. In January, U.K.-based investment firm Tetragon Financial Group filed a lawsuit to redeem its equity in Ripple but ultimately lost the case. Despite the fallout, XRP remains one of the top traded digital assets.

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Nina Bambysheva

I report on cryptocurrencies and emerging use cases of blockchain. Born and raised in Russia, I graduated from NYU Abu Dhabi with a degree in economics and Columbia University Graduate School of Journalism, where I focused on data and business reporting.

Source: 10 Largest Venture Rounds In Crypto And Blockchain

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UK Regulators Obligates Crypto Firms to Submit Financial Crime Report

shuftipro.com – April 2

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Irish Police Investigate Massive Bitcoin Scam That Allegedly Stole Millions From High-Net-Worth Individuals

bitrss.com – April 2

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The Re-Design 2.0. Parallel to the 4thTech 2.0… | by 4THPILLAR TECHNOLOGIES | /the4thpillar | Apr, 2021

medium.com – April 2

[…] The new font represents the more serious approach a crypto-business needs nowadays, leaving the tech-savvy fonts back in 2020 […] We’re DOF | Design of Frames and 4thpillar Technologies’ new Logo represents our take on how a crypto business should look in 2021 […]

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Irish Police Investigate Massive Bitcoin Scam That Allegedly Stole Millions From High-Net-Worth Individuals

http://www.cryptomainframe.co.uk – April 2

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Irish Police Investigate Massive Bitcoin Scam That Allegedly Stole Millions From High-Net-Worth Indi … on 02 April– NonSell.com

nonsell.com – April 2

[…] the older customer who wanted to invest such an amount of money into what he believed was a legit crypto business opportunity, he accepted the police advice to not send the fiat money […]

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Irish Police Investigate Massive Bitcoin Scam That Allegedly Stole Millions From High-Net-Worth Individuals – News Bitcoin News –

bit-news.ch – April 2

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Irish Police Investigate Massive Bitcoin Scam That Allegedly Stole Millions From High-Net-Worth Individuals – News

news.bitcoin.com – April 2

[…] the older customer who wanted to invest such an amount of money into what he believed was a legit crypto business opportunity, he accepted the police’s advice to not send the fiat money […]

Irish Police Investigate Massive Bitcoin Scam That Allegedly Stole Millions From High-Net-Worth Individuals – Idelto

idelto.com – April 2

[…] the older customer who wanted to invest such an amount of money into what he believed was a legit crypto business opportunity, he accepted the police’s advice to not send the fiat money […]

Mines from Aluminum to Crypto

http://www.russianlife.com – April 2

MARCH 30, 2021 Mines from Aluminum to Crypto BUSINESS ECONOMY REGIONS RUSSIA FILE BY Amanda Shirnina What’s more mysterious than a nearly abandone […]

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VP of Legal/Compliance for Y Combinator backed FinTech Job at Lastbit

http://www.goinhouse.com – April 2

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Crypto-Friendly Business Accounts at Bankera

blog.bankera.com – April 2

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UK financial watchdog adds bitcoin ATMs to unregistered crypto business list as part of AML push

http://www.theblockcrypto.com – April 1

The UK’s new initiative to target unregistered crypto businesses is picking up steam.

Goldman Sachs Joins Crypto Wealth Wave

http://www.finews.asia – April 1

[…] and chief operating officer John Waldron had already signaled interest in launching its own crypto business […]

ICO and DeFi Marketing Services – by ICOspeaks

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Thread by @robertjdenault on Thread Reader App – Thread Reader App

threadreaderapp.com – April 1

[…] According to prosecutors, Greenberg set up a crypto business for himself while serving as Seminole County Tax Collector and falsified transactions between th […]

UK Crypto Business – Crypto Business Ideas & Crypto Careers (Become A Cryptopreneur)

http://www.youtube.com – April 1

BEP20 Token Development Company | Create Your Own BEP20 Token on Binance Smart Chain

http://www.developcoins.com – April 1

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The taming of the crypto Wild West: a look at the UK’s alternative to MiCA | Dentons – JDSupra

http://www.jdsupra.com – March 31

[…] firms would still need to comply with certain conduct rules in respect of their unregulated crypto-business (including systems and controls provisions in the FCA’s Handbook, and the UK’s Senior Managers an […]

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Zapper Crypto Review – DeFi Asset Management Dashboard

http://www.cryptoandfire.com – March 31

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African Migrants Are Turning to Cryptocurrency Platforms for ‘Low-Price Remittances’ – Rising Markets Bitcoin Information

thecryptomarket.io – March 31

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PayPal Users Will Be Able to Use Bitcoin, Other Cryptocurrencies for Purchases | Barron’s

http://www.barrons.com – March 30

[…] PayPal allowed customers to buy and sell cryptos beginning last October and set up a dedicated crypto business last month […]

Crypto Outfit Registered by Flow Traders With Dutch Central Bank ⋆

insidebitcoins.com – March 30

[…] The Dutch Government has been implementing new legislation when it comes to crypto business ever since May of 2020 […]

Nifty Gateway Review – How To Buy And Sell Nifties?

http://www.cryptoandfire.com – March 30

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lacer2k: “<b>Bitcoin</b> for Babe Ruth? Sports auction hous…”

mastodon.acerbo.me – March 30

<b>Bitcoin</b> for Babe Ruth? Sports auction house will accept crypto On Tuesday, the sports memorabilia auction house Goldin Auctions announced that it would accept cryptocurrency, making it one of the first brick-and- … social experiment by Livio Acerbo #greengroundit https://www.greenground.it/2021/03/30/bitcoin-for-babe-ruth-sports-auction-house-will-accept-crypto/ #business #IFTTT #news #bitcoin #google #IFTTT #livioacerbo #news

CME Group to Launch Micro Bitcoin Futures Contract in May

http://www.financemagnates.com – March 30

[…] which was the latest move by the world’s largest futures exchange operator to expand into the crypto business […]

Paypal Enables Cryptocurrency Payments at Millions of Stores With ‘Checkout With Crypto’ Launch –

news.bitcoin.com – March 30

[…] The company set up a dedicated crypto business unit last month and early this month, it acquired crypto-security firm Curv to expand its digita […]

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http://www.youtube.com – March 30

PayPal to allow Americans to pay with Bitcoin, Ethereum at over 29 million vendors

thebitcoinstreetjournal.com – March 30

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PayPal to allow Americans to pay with Bitcoin, Ethereum at over 29 million vendors

cryptoslate.com – March 30

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11 Ways to Completely Sabotage Your BitCoin Trader – My master blog 1589

sergiooowo789.edublogs.org – March 30

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HOT JOBS & COOL JOBS: MANAGER BUSINESS DEVELOPMENT NEW YORK NY USA

http://www.e-physician.info – March 30

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Crypto Business Promote 100 Twitter account Just $10

http://www.youtube.com – March 30

Cryptocurrency Development | Types of Cryptocurrencies | by Linda John | The Capital | Mar, 2021

medium.com – March 30

[…] While it will take some time to stabilize, you should ensure that at no point in time your crypto business is illegal […]

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Cryptocurrency Development | Types of Cryptocurrencies

latestcrypto.news – March 30

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PayPal to allow Americans to pay with Bitcoin, Ethereum at over 29 million vendors | Amazing Crypto

amazingcrypto.com – March 30

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CYIOS Corp. to Acquire Privately Held

heliolending.com – March 30

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Investorideas.com – Blockchain Stock News: Graph Blockchain (CSE: GBLC) (OTC Pink: REGRF) Deploys Capital into Polkadot for the Proof of Stake Mining

http://www.investorideas.com – March 30

[…] in developing a process as we move forward to tokenize the Company’s cash position and grow the crypto business […]

Investorideas.com – Crypto Corner Podcast 554: Stocks discussed: (TSX: $HUT.TO) (NasdaqGS: $FTFT) (CSE: $GBLC.C) (NasdaqGS: $SPRT)

http://www.investorideas.com – March 30

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Concentrate quality product

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HOT JOBS & COOL JOBS: ALTERATIVE INVESTMENT BUSINESS DEVELOPMENT DIRECTOR NEW YORK NY USA

http://www.e-physician.info – March 30

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Central Bank Digital Currencies a Real Threat to Crypto but Won’t Permanently Destabilize Bitcoin – Markets and Prices Bitcoin News

usanewslab.com – March 30

[…] bitcoin and the impression central financial institution digital currencies (CBDCs) may have on the crypto business in an interview on Bloomberg’s Front Row final week […]

News

http://www.riddleandcode.com – March 29

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Crypto mergers and acquisitions doubled to $1.1B in 2020, PwC studies –

cryptocurrenciesnews.co.uk – March 29

[…] The entire quantity of mergers and acquisitions within the crypto business greater than doubled from $481 million in 2019 to $1 […] Supply: Bloomberg Following new highs final yr, deal exercise within the crypto business is prone to proceed rising in 2021 […] exchanges like Binance, FTX and Coinbase made the highest three acquisitions within the crypto business in 2020 […]

ArtAsiaPacific: Multiply And Diverge Friday News Roundup

http://www.artasiapacific.com – March 29

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Stablecoin Development Company | Asset-Backed Crypto Solutions

http://www.developcoins.com – March 29

[…] Considering all such impossible benefits, stablecoin is deemed to be the next big crypto business model […]

Bitcoin and other cryptocurrency being accepted by some Canadian auto dealers

canada.autonews.com – March 29

[…] “The dealer is not in the crypto business, he’s into selling cars,” said Alt 5 CEO André Beauchesne […]

Atlas Power: Kevin Washington’s emerging data and energy vision | State | fairfieldsuntimes.com

mtstandard.com – March 28

[…] linking to a proprietary clean-energy source would take that significant stain from a large-scale crypto business — and also would dramatically increases margins […]

DeFi, derivatives and fixing an antiquated monetary system: Kristin Boggiano –

cryptocurrenciesnews.co.uk – March 28

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Background Screening Malaysia Kuala Lumpur, Malaysia – Classified Ads & Marketplace

qwikad.com – March 28

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Wolfage Finance – Shared economy of the most profitable crypto business models

wolfage.finance – March 28

Shared economy of the most profitable crypto business models Trade on DAO Fully Decentralized Autonomous organization cooperating as per the transparen […]

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Cryptexo Global क्या है ��Legal or Scam || Cryptexo Global Full Plan Hindi || Crypto Business

http://www.youtube.com – March 27

Professional Website Design and Web Development Company Chennai, India – Classified Ads & Marketplace

qwikad.com – March 27

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Hodlers Network – Hodlers Network

http://www.hodlers.network – March 27

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PayDo: Remote European IBAN opening for high-risk business

forums.digitalpoint.com – March 26

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qwikad.com – March 26

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CYIOS Corp. to Acquire Privately Held Helio Lending

http://www.newsfilecorp.com – March 26

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Garage Sales – Local Life

qwikad.com – March 26

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SushiSwap’s SUSHI could reach $100; five times the current value

latestcrypto.news – March 26

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Bithumb Adds Auto-trading Function

usanewslab.com – March 26

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Chainlink 8-bit stickers – LVL UP your life!

up-lvl.com – March 26

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Necklace & Pendant Minot, North Dakota – Classified Ads & Marketplace

qwikad.com – March 25

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Ledger Vault | Ledger Enterprise Solutions

enterprise.ledger.com – March 25

Security Ledger Enterprise Solution is a third-party technology provider and expert in the digital asset ecosystem. We thrive to offer the best security component to any crypto business, by protecting their client’s funds from cyber attacks, internal collusion, or human errors. Our goal is to take care of security so that our clients can focus on their core business.

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CYIOS Corp. to Acquire Privately Held Helio Lending | MarketScreener

http://www.marketscreener.com – March 25

[…] plan going forward is to leverage the Helio acquisition into building a synergistic, diversified crypto business within a public company […]

Financial News Media | The Trillion-Dollar Crypto Industry Is About To Get Much Bigger

http://www.financialnewsmedia.com – March 25

[…] of the cutting-edge Cloud Nine ESL Program for student mobility … Now, it’s moving in on the crypto business in a big way … It recently signed an LOI (Letter of Intent) with Victory Square Technologies Inc […]

Baystreet.ca – 3 Ways To Play The Trillion-Dollar Crypto Boom

http://www.baystreet.ca – March 25

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FATF Takes A Big Shot | TRM Insights

blog.trmlabs.com – March 25

[…] Quick refresher – a VASP is a crypto-business that conducts any one of the following activities: Exchange between virtual assets and fia […] of a VASP is perhaps the most critical definition in the cryptoverse – whether or not your crypto business is expected to implement a costly risk-based compliance program can hinge on this definition […]

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HomePocket.com is for sale

http://www.squadhelp.com – March 25

About HomePocket.com An attractive name that combines the words “home” and “pocket”, A well-connected name with a sense of purpose and place. HomePocket.com, an inviting name related to houses, construction, and real estate but also flexible to Fintech Industry and Crypto Business.

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Coinbase hiring in India regardless of potential crypto crackdown –

cryptocurrenciesnews.co.uk – March 25

[…] Sitharaman, said the federal government is not going to be “shutting all choices off” for the crypto business lower than two weeks in the past […]

Crypto Exchange FTX Lands Miami Heat Stadium Rights For $135M

genesisblockhk.com – March 25

[…] This makes FTX the first-ever crypto business to win the rights to name a major U […]

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OKEx to Shut Down Its Crypto Business Operations in South Korea by April | Blockchain News

blockchain.news – March 25

OKEX intends to shut down its crypto branch in South Korea. According to sources familiar with the talks, the move is attributed to new anti-money laundering regulations in the country….

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qwikad.com – March 24

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MoneyGram Reveals New Service For Enterprises

chainbulletin.com – March 24

[…] Adoption Robinhood to Expand Crypto Business in 2021 Krasimir Buchvarov – March 19, 2021 The trading platform is planning to grow its crypt […] Robinhood to Expand Crypto Business in 2021 Krasimir Buchvarov – March 19, 2021 The trading platform is planning to grow its crypt […]

Crypto Exchange FTX Secures Naming Rights for Miami Heat Arena

http://www.coindesk.com – March 24

[…] This is the first occurrence of a crypto business winning the naming rights to a major U […]

The Best Backdoor Bitcoin Play of 2021 :: The Market Oracle ::

http://www.marketoracle.co.uk – March 24

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Financial News Media | A New Way To Play This Year’s Crypto Boom

http://www.financialnewsmedia.com – March 24

A New Way To Play This Year’s Crypto Boom

http://www.prnewswire.com – March 24

OpenDAX3 – A Revolutionary Crypto Exchange SaaS By Openware, Inc.

cryptobrowser.io – March 24

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Tesla Now Accepts Bitcoin as Payment

chainbulletin.com – March 24

[…] Adoption Robinhood to Expand Crypto Business in 2021 Krasimir Buchvarov – March 19, 2021 The trading platform is planning to grow its crypt […]

Cryptocurrency Payment Gateway Development | Crypto Payment Gateway for your business

http://www.zabtechnologies.net – March 24

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Crypto exchange FTX bags Miami Heat stadium rights for $135 million

cryptoslate.com – March 24

[…] over $135 million—a fraction of the exchange’s daily trading volume—and made FTX the first-ever crypto business to win the rights to name a sporting stadium […]

Graph Blockchain Deploys Capital into Polkadot for the Proof of Stake Mining

greenstocknews.com – March 24

[…] in developing a process as we move forward to tokenize the Company’s cash position and grow the crypto business […]

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Graph Blockchain Deploys Capital into Polkadot for the Proof of Stake Mining | INN

investingnews.com – March 24

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Robinhood files confidential IPO plan with SEC

http://www.foxbusiness.com – March 24

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Graph Blockchain Begins Staking Polkadot For Digital Mining

thedeepdive.ca – March 23

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Graph Blockchain Deploys Capital into Polkadot for the Proof of Stake Mining

http://www.streetinsider.com – March 23

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Value Investing & Growth Investing – What Are They?

Stock trading or investment is one of the most sought investment options for many investors. It does require some evaluation and lots of patience. Stock trading is not just about buying and selling stocks of different companies. However, it’s more about reading those companies, and there are two standard approaches – Value Investing and Growth Investing. There’s no need to panic if you have heard about them for the first time because our expert is here to help you out.

Our expert is none other than Malik Mullino, CEO of Jadeite Assets LLC and a retired-marine who’s been helping people for a long time.

According to Malik Mullino, ” value and growth investments are two fundamental approaches to stock investments “. Both have their perks and downs, but both seek to maximize the investment value to investors.”

To explain in it simple words, in value investing, investors go with undervalued stocks. In contrast, in growth investing, investors buy stocks of companies with the potential to outperform the market at the time.

Here’s a better breakdown of Value and Growth Investment to help you understand them in a better way.

Value Investment

In the value investment approach, investors lookout for the companies which have fallen but still have strong fundamentals. These are the well established and big corporations, which have been trading below their worth.

There could be several reasons for a stock being undervalued. Public perceptions of these corporations matter a lot, which hinders the prices; chances could be that company or its central personnel could be caught in some scandal or some unethical practice. But at the same time, the company’s financials are still as strong it was, and that is why value investors opt for such stocks because the company’s finances will hold up, and after a while, the public will forget about these scandals, and the price will rise to where it should have been.

Consider a company X with a stock price of $20 a share, based on the number of shares outstanding divided by its capitalization. But, right now, it’s trading for $10 a share, which is quite a good deal considering that stocks’ price will be up after a while.

Here are some of the critical characteristics of the growth funds

Priced lower than the overall market: The idea behind value investing is that good companies’ stocks will bounce back in time if other investors recognize the actual value.
Priced below similar companies in the industry: Many value investors believe that most stocks are undervalued due to investors’ overreaction to recent company problems, such as low earnings, negative publicity, or it could be some legal issues, which might not matter in the long run.
Carry somewhat less risk than the market: There’s one good thing that these stocks take time to turn around so that value stocks may be more suited to longer-term investors.

Growth Investment

In the growth investment approach, the companies have registered more gains which have caught investors’ eyes since it is expected to continue with such a trend.

But what’s the reason behind such a good performance. Well, the gains might be unexpectedly high due to the company’s recent performance, or some of its product performing well enough in the market with a promise of ’emergence’ over the years.

Consider a company that’s been trading for $30 a share while its competitors are still at $18 a share and the price of stocks of the first company is rising steadily, then it will be considered as a growth stock or company.

Growth stocks can be found in small, mid or large-cap sectors as long as analysts conclude that they have achieved their potential.

Now, what’s the reason behind investors feeling confident about growth stock’s future. The main reason could be a company working on a product expected to excel in the coming years or minting more money than its competitors.

Higher priced than the market. Investors are willing to pay a high price with the expectation of selling them at even higher prices as the companies continue to grow over the years.
High earnings growth records: Growth companies potentially continue to achieve high earning regardless of economic conditions even if its not suitable for the market.
More volatile than the market. There’s a risk in buying a growth stock as its price could fall sharply any day, mainly if earnings don’t go well with big traders.

Well, there’s one more category, a blend of both; a stock can also be undervalued while performing better than the market standards at the same time.

Value Investing and Growth Investing – Which Is Better?

On comparing the historical trends, value stocks are considered to have a lower level of risk, atleast theoretically, since they are well established, and big-time corporations whose fate will turn around sometime in future, and investing in value stocks might not result in a capital loss since these stocks also pay dividends.

Meanwhile, growth stocks don’t offer dividends and reinvest the earnings back into the company. The probability of growth stocks going down is more than the value stocks if the company is unable to keep up with the market’s growth expectations. So overall, growth stocks come with the biggest reward and risk at the same time.

Some people opt for both value and growth stocks when investing for the long term since the risk will be reduced, and gains could be multiplied depending on how the market fares out in future. This approach enables investors to profit from the economic cycles, whether it’s beneficial for the value or growth stock.

As Malik Mullino says, the decision to invest is a personal choice. The same person can only decide whether to invest in growth or value stocks. It depends on their risk tolerance and investment goals. But it is essential to study the market and to evaluate the company before proceeding with the investment.

At last, it’s all about you. It’s only you who can decide where to put your money, but if you need help, you can reach out to our CEO Malik Mullino for any suggestions.

Source: Value Investing and Growth Investing – What Are They? – satPRnews

More Contents:

Millionaire Mindset: 6 Steps to Think and Act Like a Millionaire

The millionaire mindset is the key to changing your fortune. It’s how you go from average results to great wealth.

To become a millionaire you must first learn how to think, feel and act like a millionaire. Once you have achieved that mindset, you will have access to the riches of the world.

If you want to be rich; have a million dollar fortune and feel financially free then you should start with the millionaire mindset.

6 Steps to the Millionaire Mindset

Invest in yourself
Invest in learning
Don’t work for money, work to learn
Don’t learn for entertainment, learn for value
Invest in vehicles that will generate income.
Shift your motivation from getting to giving.

Follow these six steps to get the millionaire mindset and start to change your fortunes today.

Why I don’t make Millions?

I, like so many others in the world, had been brought up with the message: ‘Get a good job, work hard and you will be able to enjoy a modest to good life.’

This, I have to admit sounded like good advice. My fiancée and I had good jobs and we were living well and saving a reasonable amount of money.

But when we started to think about how we wanted to live, and the life we wanted for our future children, and how we wanted to live in retirement, we came to the realization that we would need to work a very long time and save a whole lot of money. And even then, we couldn’t live the way we wanted.

Steps to Think and Act Like a Millionaire

I knew there was a better way. I was aware that there were people living much easier. And I wanted more than the normal plan would give. I wanted financial freedom.

Millionaire Lessons

So I needed some new messages and some new lessons.

I read mountains of material and one of the most helpful resources I found, the one that got me started, was a blog I read for free on Medium.

I read Benjamin P. Hardy’s article, ‘Want To Become A Multi-Millionaire? Do These 15 Things Immediately’, and decided I was going to start following some of his rules and try and see if it would make a change.

I would encourage you all to read this article and learn directly from him what it means to live like a millionaire. However, at this stage I just want to explain how rules 1–6 have changed my ways of thinking and put me on a path to success.

Rules of the Millionaire Mindset

1. Invest At Least 10% Of Your Income In Yourself

The basic lesson of this rule, is if you want to be a millionaire you need to be committed.

If you just have dreams and plans, you will never really be driven to make the kind of changes needed to have the type of life you want.

Also, if you want to be earning millions, you need to have the skill to earn millions. You need to be worth it. To become worth it you need to invest in developing yourself and you need to invest real dollars so you take it seriously.

Success Lesson

So I realized, if I wanted to earn big and become a million dollar level earner I needed to invest in myself. To begin with I started by researching and taking advantage of the free information on the internet. As my ideas became more focused I began to make small investments in books that I thought would hold valuable knowledge that I required.

I bought several books, which I will expand on at a later date, but by thinking of them as an investment of my valuable time and money, I read them with purpose and soaked up all the knowledge they had to offer on becoming a success and making millions of dollars.

To read about some of the books that have boosted my understanding, my confidence and my millionaire mindset, follow these links:

Lessons from Stephen R. Covey at Follow your Passion and Find Your Voice
Lessons on Investing and Life from Tony Robbins at How to be a Success: Become Unshakeable (Part 1).
And you can follow the links for much more.

The next step

The next step was to up the game a small amount. From my research and reading I learned the value of online resources and the power of being part of a professional community. So I invested in a subscription to Medium. Knowing the valuable insights it contained and that it was costing me valuable money, I was driven to read every day.

This kept me focused with the kind of reading that was geared to making money and being influential in the 21st century. It also kept me up to date with what was happening in the world. But most importantly, it put me in contact with serious people; people playing the game at a higher level than I was. This expanded my knowledge, my thinking, my community and my scope of living.

Future steps

My next step will be to take courses that will work to provide me with the skills to one day launch my own business. A business that I will be inspired by, one that won’t feel like work. One that will eventually lead to full financial freedom and the feeling of working because I want to work and not because I have too.

The Lesson

By being invested and ‘having some skin in the game’, a wild dream can start to become a reality.

By putting money and time on the line, it forces you to take it seriously and to make very serious evaluations about what is possible.

Also, by expanding your knowledge, you start to answer the questions you need answered. Through this process, my fiancée found out where to invest our money and she made some great moves. I came to know where my skills were and about the areas I needed to go to find that great idea that would make me boss.

If you really want to live like a millionaire you need to be more than interested. You must be invested!

2. Invest At Least 80% of Your “Off” Time into Learning

I used to think that you work hard then you got to enjoy your time off.

I used to work my full day then come home, go to the gym, have dinner, then relax — which usually meant watching TV, playing guitar, going out with friends, drinking, eating and so on.

Basically, all my free time was about consuming what I earned during my work time.

Millionaire Mindset Rule 2 was a huge change for me.

My fiancée and I decided we would no longer waste our free time. We would invest it. At night I started reading articles and books about investment and making money. She would study the stock market and discuss investment options with her friends in the stock market game.

On the weekend, my fiancée worked on Saturday, so I decided to make Saturday my writing day. It started with 2 hours and then it quickly became a whole day job.

I cut back my drinking on the weekend and invested much more time into productive activities. This cut down our consumption on things we didn’t need and freed up more money to invest. We were becoming more focused on our goals and more aware of our situation in the world.

Millionaire Mindset: Becoming more productive

Free time, entertainment and relaxation are all very important. But like everything, they should be done in moderation and with purpose. We spend quality time doing what makes us happy. But we spend the greater quantity of our free time on making us stronger, smarter and better. This helps us to live with purpose and guides us towards our million dollar goals.

You can’t earn a million dollar lifestyle by paying for free time. Invest your free time so you can spend your time free in the future.

3. Don’t Work For Money, Work to Learn

By this stage we were starting to develop a millionaire mindset. We were starting to invest our savings and feeling very grateful that we were in a situation where we could afford to make substantial investments every month. We were making modest gains from the stock market and feeling very good about our decision to become investors.

However, the dream of being financially free and living blissful everyday was not yet a reality. And it was starting to become frustrating dragging myself into work every day.

How to have a millionaire mindset when you have a average job?

In my dreams I was rich, I was the boss — I was making the world a better place with my great wealth and amazing company. But in reality, I was still working day to day.

However, when I decided to change my mindset and decided to see work as a process of learning and not just a process of trading time for money, I discovered much more purpose and passion for it. I came to see that I had skills teaching. That probably the best area for me to make the most money was still in education.

Don’t Focus on the money.

So, I decided not to focus on the money. Work was now a possibility to learn and develop skills. Where possible, I guided work to fit my new needs; as a teacher I was able to choose activities and topics that played into my interests. My students also benefited from learning about real life issues and skills.

Alongside this, I became more conscious of learning how to become a better teacher, a better communicator, how to use my time better, how to deal with children and colleagues and how to use new technology and so on. I was learning more skills and purposefully becoming smarter, stronger, and better.

Don’t simply work to make money. Work to learn the skills you need to take your life in the direction you want to go.

4. Don’t Learn For Entertainment, Learn To Create More Value

A simple but tough lesson for me. As a teacher, I value learning for the sake of learning and I enjoy it.

However, if you want to have the millionaire minset, you can’t waste your valuable time learning things that don’t add value.

For me it was difficult. I used to love playing guitar. When I was in Ha Noi, just prior to coming to Ho Chi Minh and starting out on this journey, I played guitar all the time. I was watching YouTube and studying how to play Spanish style guitar and how to finger-pick. And I had finally mastered Stairway to Heaven — well I could play along start to end (minus the solo).

Now, I don’t play much guitar anymore. But when I weigh the value of my future success to my family, as opposed to the joy they would get from my guitar playing, I know I am making the right decision.

For others it may have been the right decision to keep playing guitar, but for me I know deep down I don’t have the passion to make it pay — my employable passion is writing, so that’s what I’m working at and trying to master.

Nurture the passions you make pay.

I have always loved creative writing and I studied it at university. When I started at my new school I put my hand up to run a creative writing class and I make time every week to write. However, before I was writing very casually and it was very much an enjoyable time filling activity.

Now I write with purpose: if it’s going to take up my valuable time it needs to add value. Now I write professionally; I write to improve my life and my abilities, and I write with the goal that I will one day be able to make something out of it.

Get rid of hobbies that are bad.

The other thing I love is TV. I haven’t been able to cut it out all together, but it’s now a very minor amount of my time. It’s part of that 20% rest and relax time, and I’m cool with that.

Long story short: If you want the millionaire mindset, you need to make everything add value. You don’t have time to master hobbies and interests that don’t add value. But at the same time, if you take a million-dollar-mindset to your hobbies, you can turn waste of time activities into a true path to success.

If I thought I could play like Hendricks I’d be a guitarist, and not a writer. Find your true passions and skills and make them pay!

5. Invest At Least 10% Of Your Income Into Vehicles That Will Generate More Money

The path to absolute financial freedom is by investing money in passive income generators like the stock market and property.

This is central to the millionaire mindset. You can never work your way to free. You need to leverage your time and money and make money flow to you.

The obvious streams of wealth creation are stocks and property.

We plan to do both, but at the start, with minimal capital, we started with the stock market. I will cover more on this at a later stage, but basically, the more you can invest and the earlier you invest the better.

If you can start early and put away at least 10% of your income every month, then through the power of compound interest you can create a revenue stream that will one day let you retire before you’re old and allow you to live well.

My partner and I wanted freedom. We want it in 10 years time. So we put every spare dollar we can find into the stock market. We are making good returns by investing in good companies. We also feel a sense of empowerment when we think of ourselves as part owners of some of the biggest companies in the country.

Also, by being invested, we watch our money working for us every day.

Advantages of Investing

It is a reminder of what we’re worth and a driver for us to increase our worth. We still live well. Not as extravagantly as others, but we don’t go without.

I will admit that occasionally I do get a bit jealous when I see my colleagues jet-setting off here and there every holiday. However, every day I’m buoyed by the thought that one day we will be making money by doing nothing at all. What we don’t consume today will multiply and provide me with everything I need in years to come. That’s a very happy thought.

Don’t work for money, make money work for you.

6. Shift Your Motivation From Getting To Giving

All of these lessons turned me on the millionaire mindset, the kind of purposeful thinking and living that is needed if you want to go for massive success. However, there was still one massive question that bugged me:

Why do I deserve to make millions?

I was raised with a Christian ideal for money — the message very clearly was “rich don’t go to Heaven”. So for me it was difficult to say I deserved to be a millionaire. It was something obscene to want to live lavishly and to have more than others. But rule number 6 gave me the answer.

Ethics of the Millionaire Mindset

If you want to make millions and you want to be a big success, you need to provide value to others. If you want to have a big successful company, you need to provide something your customers need.

Also, if my motivation is solely to be rich so that I can have a lot of stuff, then I won’t make it. Right now I have lots of stuff and I don’t really need much more — it would be nice but I don’t need it and it makes it hard to work extra hard for stuff you don’t need.

Furthermore, if it’s just about free time for me then that’s not enough.

Work gives people purpose. I used to be a slacker trying to avoid work and I can tell you it didn’t make me feel good. I had plenty of free time and nothing to do.

Contribution is the ultimate purpose.

But what drives me is my need to give to others. I have started to develop my idea for a business and it is rewarding because it fixes a problem in the world and it is designed to help humanity with its very real needs.

This genuine motivation drives me to write every Saturday morning, even after I’ve worked all week and I wake up already living like a wealthy person. I can see the value and I love doing it, and it’s what I want to do forever.

I’m also really driven for my investments to do well. Not because I want more stuff, but because I want more time with my fiancée. I want to be able to spend more time with my son. And I want to be able to help people in trouble and I want to be a force for good in the world.

If I just wanted the money and the stuff, I would give up now. It’s too hard to win big just for stuff I don’t need. But I have a passion to make everything better. I want to live that million dollar life style I dream of and I want to help as many people as possible.

Make your life a gift to the world and your life will become a gift to you and let you live like a millionaire regardless of the money in the bank.

Now I have the Millionaire Mindset:

In Hardy’s list he goes on to explain how to build your business into a million dollar business. I will work through these steps as I start to develop my own business ideas further. But for the time being, I truly believe that following these initial guidelines have put me on a path to tremendous success. In this way Hardy has given a great gift and I have no doubt he will have all the success he deserves.

By: Joseph Brown

Source: Millionaire Mindset: 6 Steps to Think and Act Like a Millionaire | by Joseph Brown | The Startup | Medium

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Brian Tracy

I think you’ll agree with me when I say that everybody wants to know how to become a millionaire and get rich. Unfortunately, some people just don’t know where to start. Would you be surprised to learn that you can get rich in your own way, starting today? http://bit.ly/2ZBFdpX The following 6 tips will help you visualize the road ahead of you and enable you to set goals to make more money than you ever dreamed.

Learn how to think like a millionaire with my FREE download. Click the link above! ___ Learn more: Give me a follow on Clubhouse! @briantracy — see you there! Subscribe to my channel for free offers, tips and more! YouTube: http://ow.ly/ScHSb Facebook: http://www.facebook.com/BrianTracyPage Twitter: http://www.twitter.com/BrianTracy Google+: +BrianTracyOfficialPage Pinterest: http://www.pinterest.com/BrianTracy Instagram: @TheBrianTracy Blog: http://bit.ly/1rc4hlg

Be Prepared for Loss

Steer Clear if You’re Risk Averse

Know Why You’re Interested In the First Place

Keep Crypto In Its Place

References

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How to invest $1,000 to make money fast

1. Play the stock market.

2. Invest in a money-making course.

3. Trade commodities.

4. Trade cryptocurrencies.

5. Use peer-to-peer lending.

6. Trade options.

7. Flip real estate contracts.

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Bitmain: $422 million

BlockFi: $350 million

Dapper Labs: $305 million

Blockchain.com: $300 million

Bakkt: $300 million

Coinbase: $300 million

Bitmain: $292.7 million

Hangzhou Qulian Technology: $235 million

Bithumb: $200 million

Ripple Labs: $200 million

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6 Steps to the Millionaire Mindset

Why I don’t make Millions?

Steps to Think and Act Like a Millionaire

Millionaire Lessons

Rules of the Millionaire Mindset

1. Invest At Least 10% Of Your Income In Yourself

The next step

The Lesson

2. Invest At Least 80% of Your “Off” Time into Learning

Millionaire Mindset: Becoming more productive

3. Don’t Work For Money, Work to Learn

How to have a millionaire mindset when you have a average job?

Don’t Focus on the money.

4. Don’t Learn For Entertainment, Learn To Create More Value

Nurture the passions you make pay.

Get rid of hobbies that are bad.

5. Invest At Least 10% Of Your Income Into Vehicles That Will Generate More Money

Advantages of Investing

6. Shift Your Motivation From Getting To Giving

Ethics of the Millionaire Mindset

Contribution is the ultimate purpose.

Now I have the Millionaire Mindset:

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