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The Day I Stopped Letting Others Control My Future - Mike’s Story

 

CHAPTER 1

“In my opinion curiosity is highly undervalued. Months ago I stumbled across a funny video by this guy called Crypto Chico on YouTube.

I don’t know exactly what sparked my curiosity, but as he spoke about industry titans like Google, Visa, and Paypal quietly building partnerships in cryptocurrency, I had to ask myself, what do they know about the next wealth shift that I don’t?

So I began researching and within a few weeks, I started trading Bitcoin and Ethereum, as at the time those other coins felt too risky.

In my first week of getting into crypto I made a little over twenty-four percent. I was freaking blown away and thought, ‘Oh yeah, I want to do this again!’

Now I’ll admit I was playing with just a few hundred bucks.

I know it’s not a big deal, but when’s the last time you made that kind of return in a week?

So a few days later, I get this email from my bank telling me about some new savings program they’re offering where I can get…wait for it…
a whopping one percent per year if I open this special savings account.

Dude, I don't know what came over me, but I couldn’t stop laughing at the absurdity of their offer.

I work hard for every dollar I earn and the ‘best’ the bank can give me is one percent?

No deal!

For the first time in my life, I realized I’ve been told how much I can earn, where I can spend it, what investments I can and can’t have access to, all for what? My protection?

I decided that if I’m smart enough to survive corporate life, pay my bills, file my taxes, travel, sign contracts, housetrain Bailey, and kite surf, then I’m smart enough to decide how to control my wealth and my future.

And the rest is history.

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I learned everything I could about crypto and started trading full time. It was a wild ride, and I was learning on the fly.

I wouldn’t recommend trying to figure this all out by yourself by the way. The information overwhelms even the most seasoned traders.

Nobody told me about the emotional rollercoaster I’d get on when I started trading. It doesn’t matter whether it’s stocks, foreign exchange, commodities, or cryptocurrency.

Without a plan, the markets will quickly humble you!

Some of these ‘crypto-gurus’ out there make it seem as if they’ve been printing money since day one.

The reality is most of them are too afraid to publicly admit all the money they lost because of FOMO and not having a plan.

So fast forward, one day I was at Trader Joe’s and met this super cute recruiter for a hedge fund that specializes in buying cryptocurrencies for their institutional clients.

She introduced me to the CFO, we hit it off, and he offered me a job I wasn’t even looking for!”


CHAPTER 2

James always felt that Mike was that guy who always seemed to stumble into the right parties, the right circles, the right opportunities at the right time.

He had a small twinge of envy towards his uber relaxed friend that never seemed to work hard at anything, but was also one of the most disciplined guys he’d ever known.

When Mike set his heart on something, nothing short of divine intervention could stop him.

“So what happened to the super cute recruiter?” James pried jokingly.

“Uh, more like, what didn’t happen!

Actually no! What happened was Corona and being on lockdown.

We just lost touch with all this pandemic stuff.

But in hindsight kinda glad I was single through all this.

Sorry dude, but I can’t imagine the stress being a family man during this crisis.

Having Bailey around is about the only responsibility I can manage right now.

My sister is going through mental hell with her boyfriend.

And I’m sure mom’s considered pullin’ a Carole Baskin on dad a few times since he doesn’t have the corporate office to escape to.

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So what about you dude? What’s up?”

“Well,” James started, “as you know real estate was hit pretty hard by the pandemic and I’m doing ok, but not as well as I’m used to.

Without getting too deep I had a convo with my buddy Alex and he mentioned he’s investing in cryptocurrencies.

He sent me some info and encouraged me to ask you about it since you’re in the industry.

I’ve already read a couple of beginner guides and articles I found, but I want to hear from someone who's actively involved.

I just want to learn about your experience since you're in crypto personally and professionally.

Plus if I wanted to start small, as you did, what should I look into?”

Mike was silent for a moment as he filtered through his mental crypto library to find the key things James needed to know.

“OK, well professionally what I can say is hedge funds like ours and financial giants like NASDAQ and Grayscale Bitcoin Trust are neck-deep in crypto.

Plus almost every central bank in the world is scrambling to create their own digital currency.

It’s like a digital gold rush that hasn’t picked up full steam yet. Like we’re the earlier pioneers heading out west, minus the cannibalism and freezing to death part.

As for what’s made me successful personally, well that comes down to a few things.


CHAPTER 3

First off you have to understand the real power of cryptocurrency actually lies in the technology it’s built on. For crypto, it's blockchain technology.

So for every coin you learn about, pull the curtain back and look at the technology, the innovation that powers that coin. Because it’s that technology that industries like healthcare, education, finance, law, government, manufacturing, and transportation are adopting at a rate faster than you can imagine.

When you start buying coins, you’re actually buying into the innovations and real-world problems that coin is trying to solve.

Just like when you buy Google or Tesla stock, you’re buying into their technology and innovation.

But with crypto instead of digital stocks, you have digital currencies or coins like Ethereum, Cardano, Zilliqa, or Bitcoin.

Next, when you start owning your own coins, security becomes critical.

I know you James and you don’t handle loss very well.

So just like TSA you need to make security your number one priority.

Read all the articles you can about protecting your coins and private keys.

Here’s a fun fact. Guess what’s the number cause for people losing money in crypto?”

James thought for a moment, “I dunno, hackers?”

“Nope, that’s probably the third top cause,” Mike replied.

“The number one cause is people losing or forgetting their private keys. Just like there are folks who forget their email password and need to reset it like every other week.

Those same kinds of people lose their private keys and their money is stuck on in their digital wallets forever.
Its crazy dude!

There’s like over twenty billion dollars permanently locked up because the owner forgot their password.

No wonder the banks think we’re too stupid to manage our own money!”

Mike blurted out a hard laugh, because it was unreal to him that someone would go through the process of getting into crypto only to be the cause of their own loss.

“So whatever you do buddy,” Mike continued laughing, “have a plan to protect your keys and make sure Julia knows how to access it just in case something happens to you.

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Now in my opinion, the next major reason people lose money in crypto is, quite frankly they have no clue what they’re doing.

They read a few tweets about some hot coin going to the moon, they buy-in at the top and get burned all the way down.

At the office, we have analysts that research every coin and blockchain project we get into.

The crazy part is the information is out there and most of it’s free.

Before I jump into any coin I have a checklist of a few simple things I need to verify.

Then based on the checklist I have a specific plan as to why I’m in a coin or project, when I buy, at what price I buy, when I sell, and at what price I sell.

I never wing it in crypto.

After my extra-long Saturday walks with Bailey, I take some quiet time to plan out what I’ll be doing in crypto for the weeks and months ahead.

The point is I have a strategy and I know what I’m doing.

Most traders, whether in crypto, stock, options, or forex lose money because they have no plan.

They just see some trending indicators, hear a rumor about the next hottest thing, and jump in blindly.

That’s basically gambling and most would have better odds if they just went to Vegas instead.

Making sense so far?” Mike took a breather as he was trying to not firehose James with too much information.

“Yeah, I’m with you. Taking some notes. So speaking of having a plan, what’re the basics I need to get started?” James inquired.

“Oh well that’s easy, I’ll email you a quick guide. But essentially you need a few simple tools like a wallet and exchange account to get started.

Honestly, that’s the easy part. I’ll email you a list of different options to consider.

One thing you’ll learn in crypto is that no one reputable tells you what you have to do. They only guide you to resources for you to research further.

You have to decide every step of the way what to do with your money, your time and your future.
It’s liberating and scary at the same time.

But this is the price you pay to participate in this technological revolution.

Does this help?” It was getting late and Mike's stomach started to alert him of other priorities.

“Yes, yes this good. Thanks Mike. So what about your checklist? Obviously, if I get set up I need to know how to actually follow Alex’s advice to keep losses small and profits big.

Can you share your list with me?” James humbly asked.

Mike gingerly chuckled, “Look, dude that’s my secret sauce! I can’t tell you how many courses I’ve taken, tools I’ve bought, and thousands of dollars in training sessions I’ve paid for just to come up with a strategy that allows me to work a full-time job and profit from the growing adoption of crypto.

And now you want it for free?”

Mike knew he was slightly guilt-tripping James, so he didn’t let the awkward silence last too long.

“But seriously dude, I’ll do you one better. First continue your research and when you’re ready, get setup.

Then let’s plan on meeting for about an hour-ish over the next few weeks and I’ll personally teach you my strategy.

This way you can learn first hand and then tweak it to fit your goals.

What works for me maybe too intensive for you.

But if you understand the principles, you can grow your confidence and skills to craft a strategy that makes sense for you to join the digital wealth shift. How’s that sound?”

“That sounds awesome Mike. Thank you. I’ll look out for your email and let you know when I’m ready to jump on another call.

This has been very helpful, as I was feeling overwhelmed in my research, but I appreciate you helping me demystify crypto. So for all this help, is there anything I can do for you?”

“Yeah you can. When you make your first double-digit return send a big bone in the mail for Bailey.” Mike chuckled.

James laughed, “Consider it done Mike. I’ll take care of Bailey.”

  • GET THE EBOOK MIKE SENT JAMES - BEGINNERS GUIDE TO BUYING CRYPTOCURRENCY

 

 

 

 

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