NYC mayor-elect Eric Adams has considered being paid in bitcoin. Cartoon apes are worth enough scratch to pay off some student loans. Even the most conservative financial advisors are starting to see value in the cryptocurrency space. It makes it hard to be a skeptic.
What can a crypto cynic do? Hold on (or rather, hodl on) to your hat, because there are ways of easing your way into the crypto space without having to stack a hot wallet full of doge. ETFs like the VanEck Digital Transformation ETF (DAPP) can get you exposure to the digital infrastructure of cryptocurrency without having to know your solana from your ether.
That said, it’s valuable to hold on to your skepticism and enter the space with eyes wide open.
Some Crypto Crash Courses
Joel Monegro, a former investor at Union Square Ventures, wrote a 2016 blog post entitled Fat Protocols. In just 1,200 words, he goes over what the blockchain is and why crypto has value and importance. This paper might be considered an ancient relic at this point, but it’s a great starting place for a crypto skeptic.
There’s also a quick, 26-minute primer on how bitcoin works that you can watch on YouTube from user 3Blue1Brown.
Those who favor podcasts and have a little more time can listen to a 2017 episode of The Tim Ferriss Show called The Quiet Master of Cryptocurrency.
Finally, the Onramp Academy is a great place to start and receive a more robust crypto education.
Digital Infrastructure Is a Great First Step
DAPP is a compelling first investment in the space. The individual currencies remain quite volatile, and with so many options beyond just bitcoin, it can be hard to figure out where to start. DAPP provides general exposure to the space without the need to pin your hopes on any one cryptocurrency. Its holdings include companies that have proven track records of success, like Square (SQ), and companies like Coinbase (COIN) that are on ascendant. DAPP is ideal for investors who would like to dip their toe into crypto to make sure the water is warm.
For more news, information, and strategy, visit the Crypto Channel.