How to Get Started Trading Cryptos

Publisher’s Note: We’re gearing up to deploy $50,000 into the crypto market under the guidance of Chris Curl. There is a significant buying opportunity at hand, and we’ll be taking advantage. Members of Chris Curl’s Crypto Cycle will be getting full reports on wallets, exchanges… what they are… and how to use them.  In the conversation below between Chris and Resource Stock Digest editor Mike Fagan, Chris offers a few top trading platforms and why he thinks crypto prices are headed higher in 2022.

Enjoy,
— Nick

 

Mike Fagan: Chris, it’s great to connect with you today. You’ll soon be launching your new trading advisory, Chris Curl’s Crypto Cycle, under the Digest Publishing umbrella. I’ve always been interested in investing in cryptos but just have yet to pull the trigger for whatever reason… call it fear-of-the-unknown perhaps!

In fact, I don’t even own a crypto trading account. So let’s start there. First, what are a couple of the top trading platforms you recommend to people, like me, who are finally ready to get started in the world of crypto investing? And second, would you mind going a bit into your background along with what subscribers can expect from the new service?

Chris Curl: Thanks, Mike! Coinbase is the most popular crypto exchange right now in the US, and it’s very easy to use… so I recommend that for beginners. Gemini is also good and they have a different selection of altcoins.

But the exchange with the lowest fees and largest selection of coins is Crypto.com — although, currently in the US, you can only use their smartphone app. There are many others but those are a good starting point. 

 
Your audience members can use these links for free crypto if they’d like to sign up:  

 

Coinbase (Desktop and mobile)  

Gemini (Desktop and mobile)  

Crypto.com (From desktop: referral code: 665ffvst2e) 

 

As for me, I’m a pretty regular guy. And I wasn’t heavily invested in crypto prior to this year. But I saw the writing on the wall when it comes to inflation and people seeking alternatives to traditional fiat currencies.  

In 2020 alone, the Federal Reserve printed 18% of the total supply of dollars. Over $3 trillion in US dollars were pumped into the economy while businesses were forced to shutter and people were paid to stay home and not work. More dollars are chasing fewer goods and services. It doesn’t take a Ph.D. to figure out what effect that has on the currency. 

I think there are also legitimate uses for blockchain technology going into the future. But for right now, I’m focused on making as much money as possible for the remainder of this crypto bull market. And my new service will advise readers on what to invest in and when to take profits. 

Crypto is very volatile but it does follow cycles.

Mike Fagan: Definitely, exciting times… and plenty of FOMO [fear of missing out] going around as well!

I think one of the main reasons I’ve hesitated so long to get involved in cryptos is the extreme volatility you just mentioned. I mean, we’ve seen Bitcoin race to $60K, then lose half its value practically overnight before racing back to record highs once again.

And then, some of the lesser-value memecoins, like Dogecoin — which has a smirking Shiba Inu as its emblem — have seen wild price gyrations based sometimes simply on public comments made by the likes of Elon Musk and Snoop Dogg!

I know you’re up substantially on your initial Dogecoin investment but it’s currently trading for less than a third of its all-time high. So I guess my question is… how do you differentiate between what has value and what’s basically junk?

And how do you insulate yourself from some of these wild price fluctuations to protect against being caught on the wrong side of a dramatic sell-off? 

Chris Curl: Well, I think taking profits is vitally important. If a coin skyrockets overnight, it’s a good idea to at least take out your initial investment and a little extra. But the truth is that we live in a world of memes now, and the cryptocurrency space is flooded with them. Shiba Inu, which was created as a “Dogecoin killer,” just went parabolic recently, making one holder that I know of literally billions of dollars.  

The key to not getting burned is to understand what phase of the overall crypto market cycle you’re in. I’m still holding Dogecoin because I believe we are still in a bull market and just starting to see real fireworks. This is going to send altcoins along with some memecoins way up. 

I’m not ready to sell just yet! 

Mike Fagan: That’s incredible! Chris, despite the inherent volatility, cryptos are certainly here to stay. And that’s a good thing for speculators, like me, who are looking to jump in. It also means, however, that governments are going to either want their fair share or, as we just saw with China, place a total ban on crypto ownership and crypto mining.

Obviously, with Bitcoin back near $60K, the crypto market has successfully shrugged off the China news. Yet, here in the US, the Biden Administration is making quick moves to not only tax cryptos in a manner similar to stocks but also find ways to crack down on tax cheats.

What’s happening in that realm as you see it?

Chris Curl: Those are really important questions, Mike. I think there's a very real risk of punitive tax laws not only in crypto but for all capital gains.

My outlook right now is for the next 3 to 6 months. That is when I’m looking to make real money. After that, we’ll see what happens with regulation. The fact that institutional investors are getting into crypto should help. Wall Street has a lot of influence in DC and they won’t want their investments compromised.

Mike Fagan: Another interesting aspect of the crypto world, Chris, is the idea of actually using your crypto holdings as currency. Elon Musk has sort of gone back and forth on accepting Bitcoin as payment for his Tesla products. Of course, there are a number of corporations that currently do accept crypto as payment including household names such as Microsoft, Overstock, and Starbucks.

Personally, I see myself only trading cryptos like stocks and then using the proceeds, hopefully, to buy a few things here and there and as well for my retirement. Have you had any experience in using cryptos as a method of payment, and, if so, what has that process been like for you

Chris Curl: I’m in the same boat as you, Mike. I haven’t actually purchased anything with crypto as of yet. I’m also seeing this time as a trading opportunity to make money… although, I would love to buy a Cybertruck with my Dogecoin or Bitcoin if Tesla accepts either for payment in the future. 

Mike Fagan: I have a sneaky suspicion we’ll be hearing some positive developments on that front in the not too distant future! 

Chris Curl: Agreed!

Mike Fagan: Wrapping things up, Chris… and please, let’s plan on doing this again a bit down the road as we get into the new service… what’s the best way for us newbies to conduct our own research as a means of sort of paralleling what you’ll be doing for Crypto Cycle subscribers as a seasoned expert? 

Chris Curl: Mike, there’s a lot of great information out there on the internet. And, not surprisingly, a lot of bad too! But pay close attention to the charts. Look at what Bitcoin did in 2013, 2017, and look at what it’s doing now. Look at what various altcoins did during the same period. If you zoom in, I think you’ll be surprised where we’re headed in 2022. On the macro level, things are looking very good to me! 

Mike Fagan: Chris, I know you’re extremely busy with the upcoming launch. I want to thank you again for taking the time today. I’m literally chomping at the bit to invest alongside you and looking forward to our next conversation! 

Chris Curl: My pleasure, Mike. It’s going to be a wild ride for sure but I think a very lucrative one at that! 

Mike Fagan: Time to buckle up! 

Chris Curl: Indeed!