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The Underdog Investor Audio Experience
GAMBLING vs INVESTING
The 5-minute-a-day Underdog Investor audio experience is a show that’s dedicated to helping you take your power back and create your own version of Freedom. To our clients and us, financial freedom isn’t something that would be ‘nice’ to have; it’s non-negotiable. We’ll be focusing on conquering the world of Investing, diving into a wide range of income-producing opportunities available through DeFi, exploring all things blockchain, and mastering this thing called money.
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- Broadcast on:
- 30 Aug 2024
- Audio Format:
- other
What is going on? Welcome back to the underdog investor audio experience. My name is Colin and today I wanted to talk to you about dollar cross averaging, but it goes much deeper than that. I think one of the biggest mistakes that I see in the crypto space as a whole is gambling. It is taking crypto assets and throwing it into random places in the internet and just hoping that it comes back with a massive reward. And I think that is the biggest mistake that I see is letting emotions dictate your actions. And so a way that we can combat this and something that we talk a lot about in the UIG, it's just studying and researching the underlying assets and projects that are out there, fundamentally understanding what problems they solve, and then just finding and aligning yourself with these assets, with these projects that you believe will make an impact. And to go back to the fundamentals of investing, it is buying and acquiring something at this point in time and believing that it will be more valuable in the future. That's all investing is. So I'm buying ETH right now because I believe that ETH at this current price, it'll be worth more in the future. And so that's fundamentally what investing is. But what tends to happen in the crypto space is that everything moves so quickly, and we see these huge sticker prices and we see these huge gains on Twitter and YouTube of 100x over here, 1000x over here, that that seems to be the norm. That's kind of almost the default for people is to try to hit those massive returns. And again, what that leads to is gambling and just again, hoping and throwing your money in random places, just hoping that it goes up in value. Where in the UIG, we take a little bit more of a systematic approach, research the asset, understand the tokenomics, understand what this value, what value this project brings to the marketplace, invest in that token on an automated sequence, which I'll talk about here in a minute, but automate that removes the emotion out of it, and then just be patient, you're investing. And so that's really what we're trying to do here in the UIG is invest. We are investors, we are not gamblers, and we are not hopers. And so a way to automate that experience and to extract and kind of remove the emotions from it is to dollar cost average your way in. So again, I don't want to gloss over this. It starts with the assets. Everything starts with the underlying assets. You can be have the most diligent dollar cost average strategy. But if you're investing into an asset that you actually don't like and you don't understand, well, then the emotions will come right back in as prices start to move and shift. And so that's the other thing I should mention here is that the crypto space is volatile by nature. It is a risk asset class. It is a small by market cap compared to other sectors out there, other financial sectors out there. It is very, very small. And thus it is volatile. And so knowing that the space is going to be moving quickly, we need to have a solid understanding of what we're investing in so that when times are volatile, we have a system setup where we can buy there's a great quote. I forget who says it. I think it's Warren Buffett, but it's basically you know, buy when there is blood in the streets, when people are selling and there is panic and people are growing crazy, that is a great time to accumulate. And so a great way to automate this experience is dollar cost averaging. It is a way to automate the acquisition of assets on a timetable. And so for me, not financial advice, of course, but for me, I have a series of assets that I want to invest in long term because I've done my research. I understand what value they bring to the marketplace. And then I just set by orders every single week where I linked my bank account to a centralized exchange, I acquire assets from my bank account into that centralized exchange. And then I move those crypto assets into my cold storage wallet. Or if I want to provide it in other DeFi services, then I can move it to my hot wallet and then deploy from there. But this is an automated sequence that I think will help remove the emotions out of this whole thing and just allow you to accumulate solid assets, solid tokens that you want to hold for the long term. I think it's the best and easiest, most hands off way that you can do it. And a little bonus for you. What I also like to do is to dollar cost average into stablecoin as well. And so every week I have a percentage of my fiat that I'm moving into crypto, I dollar cost average into stablecoin as well. That way, when prices dip, I have stables on the sidelines to then acquire or to move into DeFi activity. So that's just a little bonus tip for you, if you'd like that. If you have not joined us recently, please make sure that you go back through the investor challenge. This is a full layout of great information that will help you guide you through our investor, the UIG platform itself, and will lead you through all the frameworks, all the education, all of the guides, all of the resources and all of the deliverables that we put out from our team on a weekly basis. So that investor challenge will walk you through everything, get you back, get you acquainted, get you set up. And with that being said, institute some sort of dollar cost average, even if it's with just a few dollars, it's such a great way to to notice and see your bags, your crypto bags increasing on a weekly basis without you having to physically do it. So hopefully that brings us some value today. And with that being said, we will see you in the next episode. You