On the latest episode of That Crypto Hustle, we picked the brain of Crypto-enthusiast OJ Jordan.
OJ told us about his cautious initial involvement in the crypto world and why he was reluctant to invest. He was intrigued by Bitcoin, but its obscure and intangible nature didn’t seem like it would work in practice. At the time, buying from a dodgy forum was the norm - which OJ was unwilling to partake in. It wasn’t until he found a more reputable site (CoinBase), that he finally bit the bullet and decided to join the crypto scene.
OJ admits investing in crypto is still a risky move, but the potential for growth in the market is definitely there. Since he started trading, the market cap has quadrupled in the span of 18 months. And, he believes, big money is only just starting to come into the game. Established companies like Amazon and Facebook are looking into crypto, while banks suddenly have lots of patents for blockchain technologies.
OJ’s recommendation for crypto newbies? Place your bets on something “safe”, which is Bitcoin. Altcoins are still in their infancy and you need to be an experienced trader to succeed with Altcoins. In order to become a smart trader, you need to do a lot of research - watch videos, speak to people, read blogs. Find a crypto community and network.
You might be tempted to buy when a coin pumps - but that’s the worst time to buy, says OJ. The best time to buy is when a coin reaches the floor. When a coin you’ve bought is pumping, that’s when you should sell. Then you buy again during the pull-back.
Comments will be approved before showing up.