It's time to get yourself a hardware wallet
PLUS: Signs of a good NFT investment & the actual potential of crypto gaming!
New to crypto? Cryptocurrency Basics is a 9 minute video that serves as a great intro to the world of crypto. It’s part of our Crypto and Web3 for Absolute Beginners course.
I try to blow your mind right here in the intro of this newsletter before you even scroll down as often as possible just to pack in the value and wow you. So here: there’s a guy whose making over $250,000 annual in passive crypto income. That’s it. Your mind is blown.
In this issue:
It’s time to get yourself a hardware wallet
Signs of a good NFT investment
The actual potential of crypto gaming
NITRO! (3 can’t-miss things)
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It’s time to get yourself a hardware wallet!
In light of recent world events, now is the time to get your crypto off of centralized exchanges (CEX) and into a hardware wallet like the Ledger or Trezor.
As this tweet points out:
Crypto is credibly neutral infrastructure for the people, but without control of your own private keys, you lose the properties that make crypto censorship-resistant
If you took my crypto course (Crypto and Web3 for Absolute Beginners) you already know about crypto’s benefits — including, importantly — censorship resistance. It’s very important to note, though, that crypto is only censorship resistant under the right conditions.
You do not know when politicians will decide to impose restrictions on the CEX you use, for which they have no choice but to comply
Don’t wait.
Signs of a good NFT investment
I’m not an NFT expert but Nathan is. Allow me to paraphrase a recent tweet of his which lets you know what some red flags are that could help you steer clear of bad projects. Here’s a different lens to look through based on what you do want to look for:
🏁 - Doxxed team: you want to know who you’re dealing with and what their track record verifiably looks like)
🏁 🏁 - Low mint price: you want a “reasonable” mint price that doesn’t feel like you’re being extorted)
🏁 🏁 🏁 - No paid promotion: organic growth and awareness is the best kind… that said, paid advertising isn’t bad in and of itself since great products deserve to be shared… but if a project can gain traction on it’s own, via natural word-of-mouth, that speaks volumes)
🏁 🏁 🏁 🏁 - No fake followers: obviously — look at the level and quality of engagement)
🏁 🏁 🏁 🏁 🏁 - Short roadmap: roadmaps are good but short roadmaps are better because the team is showing that they feel like they can make things happen in a reasonable amount of time — they’re capable and not under-motivated or under- staffed)
The actual potential of crypto gaming
I’m continually interested in the concept of crypto gaming because 1.) who doesn’t like gaming on at least some level and 2.) if you’re going to game and you could potentially get compensated for that time… why wouldn’t you? So I was naturally interested in a podcast episode with an ex-YouTube exec that made the jump from web2 (YouTube) to web3 (Polygon).
A few interesting bullets I gleaned:
In-game assets can have real-world value (whoa)
You can be a “time whale” if you have a lot of time to invest!
Crypto gaming won’t replace traditional gaming — it will be an alternative
TradGamers remember not being able to get a graphics card because of miners… so… built-in resentment toward “crypto gaming”
“I’m not joining web3 because of where web3 is right now. I’m joining for where it’s going to be (staking to where to puck is going)”
Right now crypto gaming is mostly an idea (we know it’s coming but we don’t know how or when)
There’s lots more of interest in this interview. If crypto gaming interesting you don’t miss it!
BTW I own $MATIC FWIW.
NITRO!
See you next time (and don’t forget to check out Jasper)!