What’s up with Cryptocurrency and why do I care?
Unless you live in a cave or are already in a bunker, we’ll assume you know what has been happening with Crypto currency, such as Bitcoin (BTC), Dogecoin, Ethereum, etc. Crypto currency is a decentralized currency and may be the currency of the future to help fight against inflation, and to fight against over-reaching governments. There is a great opportunity to make money in the crypto market, especially when it’s volatile.
A lot of people do not have any active investments in the stock market outside of their 401K, but times have changed quite a bit. Actively investing in trading cryptocurrency is risky like anything else, but there is a lot of money to be made in the crypto market if you know what you’re doing, and the swings up and down are more dramatic in a lot of cases.
Best of all there are zero limits on day trading like there are in the stock market, so there is a lot of opportunity to buy at the dips in price and sell at the peaks.
Most people believe that your only opportunity to make money in cryptocurrency is to buy it at the lowest price it’s ever been listed and sell it at the highest, and that if they didn’t get in when the price was that low, that they can’t make money. This is not how traders make money with crypto, unless they are strictly long-term investing. Most will “Buy the dip, sell the rip”, which can be very profitable, especially when dollar cost averaging rather than obsessing about the current price.
We personally don’t trust the big banks, hedge funds, or Wall St. in general. We believe the Crypto market is the new frontier for everyday individuals to be able to make money outside of centralized institutions.
What happens if the grid goes down or there is a collapse?
If the grid goes down or there is another large event that disables the internet and our communications, all money will become unusable, and contrary to what is peddled by a lot of people in this industry, gold and silver will be of no value to you in the short term after a collapse.
What will be of value to you and your family immediately are your basic needs. Shelter, Water, Fire, 1st aid, food, and so on. You should be stockpiling supplies, learning skills, and developing those skills now, not later. In the event of a collapse, currency of any type will be the least of your concerns. Bartering will be a far more likely scenario.
Everything you are doing in the here and now should be preparing, learning, and putting together P.A.C.E. plans (Primary, Alternate, Contingency, Emergency). Financial planning is a large part of that plan, in our opinion.
Crypto in the News
Crypto has been in the news quite often lately. A lot of the crypto news has been misinformation, such as China “Banning” crypto, which is actually old news from a few years ago, and was terribly misrepresented by the media. The Crypto market is not crashing, its experiencing corrections, which are perfectly normal.
The big “whales” have also been manipulating the market as much as they can, which has made the crypto market very volatile. If you’re looking to get into crypto, whether it be holding coins, trading shares, or scalping and swing trading, you should first be learning about how to read charts, such as the charts available on tradingview.com.
How do I get into Crypto?
A great place to get your feet wet to learn all about trading is a Youtube channel called Rayner Teo. You can learn all about stock trading, candlestick patterns, support, and resistance, moving averages, RSI, and so much more.
Dogecoin is a cryptocurrency that has become extremely popular as of late, and just like when Bitcoin first came out, people have made fun of it and said it would go nowhere. It’s also been called just a meme coin. Don’t get us wrong, it was created as a meme coin, at first. Now it’s listed on many exchanges, SpaceX is launching a satellite to the moon called Doge-1, which will be paid for exclusively with Doge, Tesla may start excepting Doge as payment, and even Coinbase is adding Doge very soon.
Dogecoin may indeed have a very bright future based on all of the latest news and future plans, and we believe it could be a great investment at its current price. We believe in being prepared, and we also believe that cryptocurrency is a great way to do that.
Where can I buy and/or trade Crypto?
If you’re based in the U.S., you can purchase crypto with apps such as Robinhood, Binance.US, Trust Wallet, Coinbase, TD Ameritrade, Webull, and many more. If you sign up with Robinhood, you can get a free stock once you link your bank account.
Disclaimers: The Robinhood link is through a personal Robinhood account owned a Survival Summit co-owner and is not affiliated with The Survival Summit, LLC. Personally, we are invested in Cryptocurrency, but as a company have not yet invested in Crypto and we do not currently have any agreements or affiliate deals in place with any company or individual listed in this blog. We are just believers that crypto is the future and may be a great way to fund our preparedness endeavors.
*This is not financial advice in any capacity, and we are not financial advisors. This blog is strictly our personal opinion on cryptocurrency.