Are you choosing to profit on your own, or are you applying for a job at a crypto company?
Author: Route 2 FI
Translation: Deep Tide TechFlow
Some advice for those with limited funds who are new to the cryptocurrency space.
The current market is booming, and with Bitcoin reaching an all-time high, people can easily take on risks beyond the norm due to fear of missing out (FOMO).
First, ask yourself what you are good at. Perhaps the most important skill in this industry is persistence. Even if you are not particularly smart, if you are willing to put in 12 to 14 hours a day, I think you have an advantage. Therefore, for those with limited funds, time is your most valuable asset. Be willing to learn and improve yourself. So, what areas should you focus on? Content writing, trading on centralized exchanges (CEX), research, Memecoin trading, NFTs (Non-Fungible Tokens), YouTube, newsletters, Telegram, podcasts, etc., there are many options.
If you enjoy writing, consider publishing content on Twitter, newsletters, or Telegram. If you prefer verbal expression, YouTube or podcasts might suit you better. Are you good with numbers and enjoy observing market dynamics? Then focus on enhancing your trading skills and connect with those excellent traders on Twitter whom you admire. You might be surprised to find that many great traders on Twitter have only 500 to 2000 followers; they aren’t necessarily big names like Hsaka, ENAS, or Nachi.
Once you've found your strengths, ask yourself: 'Are my skills sufficient to earn me a reward?'
If not → Then seek internship opportunities. This could be with a crypto company, startup, venture capital firm, or family office, or assisting KOLs with various tasks, or helping traders you admire with their tasks (if you perform well, they might share some insider information with you). Internships often pay low, so focus on gaining experience and wisdom that might be useful later.
If so → Are you choosing to profit on your own, or are you applying for a job at a crypto company?
Profiting on your own can be a difficult and long road, requiring great investment and dedication. But if you are confident in your abilities and believe that long-term gains may far exceed a regular job, I recommend trying this path.
Applying for a job at a crypto company is a relatively safe choice, as you can earn a fixed salary (usually higher than traditional 9 to 5 jobs). Moreover, who says you can’t focus on your projects outside of work? Although you may not have enough time to go all in, a fixed salary allows you to focus on side projects with peace of mind. Here’s a little advice: many people might think, 'The bull market is here, I need to focus on trading, and I don’t have time to look for a job.' In fact, it’s easier to find a job during a bull market, and if you have almost no capital, why would you want to put your energy into trading?
If Ethereum's price quadruples, then your current $1000 would become $4000. You can easily earn that amount through one or two weeks of entry-level work. Most people will not become those who can turn $1k into $1m with Memecoins. If you really have that ability, you wouldn’t have to consider looking for a job.
If you are applying for a job, choose a company you respect and where you hope to receive equity or token compensation. If your financial situation allows, you can ask for as much of your salary as possible to be paid in tokens (as long as you have confidence in the company). If the company succeeds, you could reap substantial rewards. Think of that 16-year-old from EigenLayer (@gajesh); he is a great example.
Twitter account: In this industry, the best way to connect with top people is to increase your visibility on Twitter. Write about topics you are interested in, post some lighthearted and humorous posts, and interact more with those you admire. Tweet daily, even if it's just to say 'good morning (gm)'. DM people with some advice without expecting anything in return. This is how friendships are built, and who knows, you might have opportunities to collaborate in the future. Just stay friendly, helpful, and actively engaged every day.
In the crypto industry, Twitter is like your resume. You don’t need LinkedIn; if you are applying for a job, your best resume is the content you create on Twitter. Moreover, recruiters often look for influential people on Twitter and offer various opportunities. This might include collaborations, paid projects, referral links, funded trading accounts, and even opportunities for angel investment and influencer (KOL) rounds when your influence is significant enough. Regarding collaborations or paid content: as long as you disclose relevant information, I think it is acceptable. In this cycle, we’ve seen some behaviors accepted (though I find it strange): someone just shares a contract address (CA) for a Memecoin and says it’s a must-buy bargain. Don't do that. It's better to share these contract addresses only in group chats with friends.
For traders or aspiring traders: this might be the most challenging path, but if you have the capability and unique advantages, it can also be the most profitable. You need to find your own trading style. You cannot blindly follow traditional trading rules and expect to outperform others. You must find a unique and effective way to do what others have not done. A top trader on Crypto Twitter (CT) once said he had never used Tradingview. I share this because many people rely too much on excessive indicators and fictitious trend lines, which is actually unnecessary.
The cryptocurrency market has many inefficiencies that you can take advantage of. For example, when Andre Cronje announced on Twitter in March 2022 that he would shift his focus away from DeFi, the market reacted slowly, with tokens like FTM and YFI starting to drop at least 10-15 minutes later. In hindsight, this was one of the easiest short trades I made on Fantom. For me, it was just a short-term trade, but given the market's poor performance later, I should have held longer. My point is that the cryptocurrency market is not as efficient as the stock market. When news breaks in the stock market, prices reflect it almost immediately within seconds.
Cryptocurrency has attracted a large number of retail investors, and frankly, many of them are not professionals. I’m referring to those who casually buy Dogecoin and expect it to soar. There is a clear difference between the smart people on Crypto Twitter (CT) and those who rely on TikTok influencers or BitBoy for investment advice. By the way, I don’t consider myself one of the smart ones. I’m referring to GCR, Cobie, Light, etc., and there are probably over 50 more I could mention.
For those who actively track cryptocurrency trends and seek excess returns, this is indeed an advantage. As the cryptocurrency market matures, I expect it to become more efficient, and trading will become more difficult. It is important to have probabilistic thinking, common sense, self-awareness, resilience, patience, and the ability to delay gratification. Additionally, having a compulsive personality or mild autistic traits may actually be an advantage. Also, remember that the market is cyclical. The market trends only 20% of the time and fluctuates in a range 80% of the time; this is crucial because these two scenarios require completely different strategies.
Oh, if you think you've got the upper hand in trading, I have some bad news for you, my friend. You might still be in the early stages.
If you want to advance to stage E, you can check this list and read this article.
In trading, don't expect someone to guide you through the entire process. We often talk about profits, but in reality, you are taking money from others. When you go long on BTC and make a profit, it means another trader shorting $BTC is at a loss. Therefore, trading is essentially a player versus player (PvP) competition.
You may receive a lot of advice on platforms like Twitter, Discord, and Telegram. But sometimes, it's necessary to reflect on their motives for sharing information. Are they acting out of goodwill, or do they want you to become their bagholder out of fear of missing out (FOMO)? For smaller market cap coins, be more cautious with advice from others, as their prices can fluctuate easily.
That said, you should learn from better traders.
Good luck.
