One of the ‘fun’ sides to the financial minefield of crypto investments is becoming a connoisseur of the best books on investing in cryptocurrencies.
It doesn’t matter if you prefer to read paperback books, PDFs, or download books on your Amazon Fire Tablet, you can gain vast amounts of knowledge about the crypto market if you are someone that enjoys reading. And this is exactly why the in the world of business, the phrase ‘knowledge is power’ rings true for those that are at the top of their game!
You only need to look towards some of the most successful billionaires to discover that the lion’s share of these super rich whales regularly read books. The likes of Bill Gates, Richard Branson, and Elon Musk attribute their willingness to read as having a major influence on their paths to success.
If you are looking to up your game in the crypto investment sphere, then it could be time to pick up a couple of books on investing in cryptocurrency and see where the journey takes you.
You could learn how to spot opportunities like LEND (recently increased 2500%), figure out when to quit while you are ahead rather than hang around on a dud investment, and enlighten yourself on how to make better decisions when it comes to strategies for investing in bitcoin and other major cryptos.
Most importantly, books help you learn from the pro traders and investors turned authors that have been in the trenches for years. These writers can educate you about their downfalls, bad investments, snap decisions they regret making, and how they overcame barriers that knocked them down only for them to get back up again and fight their way to success.
In short, the learning curve from reading is often priceless, and if you already read books, then you already know this. However, if you do not read books, then give them another try (assuming the last time you read a book was a while ago or even as far back as when you last studied!)...
To give you a head start, we have compiled a list of what we feel are currently the ‘Best 5 Books on Investing in Cryptocurrency’!
· Cryptocurrency in A Nutshell by Greg Somlok
· Cryptocurrency Investor Handbook by Matthew Smith
· Swing Trading by Brian Price
· Cryptocurrency Mining For Dummies by Peter Kent
· How Money Got Free by Brian Patrick Eha
1. Cryptocurrency in A Nutshell (Greg Somlok)
This is a great book for both intermediates and beginners in cryptocurrency investment. The main slogan is ‘Understand Cryptocurrencies and Blockchain In Less Than A Day!’. Of course, many newbies will not understand the industry in less than a day, but this book is a great stepping stone into the highly volatile world of cryptos.
Greg Somlok, the author, has a series of 5 books. He is a well-known and highly successful crypto trader as well as a blockchain tech expert. He takes you through the world of cryptos in an easy to understand way that explains the ins and outs of cryptocurrencies and the technology behind blockchain technology.
One of the most enticing comments made in the intro of this book which will get most people hooked is the clever statement that says “Did you know that if you had invested $41 in 2010, you'd have over $87 million right now?”.
The book not only has quips that give you a positive outlook to cryptos, especially the one that makes you regret not investing $41 in 2010! but it also tackles many of the myths floating around that deter a large portion of society from taking steps to embrace the world of digital currencies.
It quashes the rumours that ‘all cryptos’ are scams, it covers opinions related to whether cryptocurrencies and blockchain tech is the answer to quashing capitalism and covers the possibilities of cryptos eventually replacing fiat currencies.
· For newbies and for those that want some deeper insights into cryptocurrencies
· Covers how blockchain tech works
· Learn about ETH, LTC, BTC, and other cryptos
· Investigate what the future of cryptos might hold
· Quash crypto myths that slow mass adoption
2. Cryptocurrency Investor Handbook (Matthew Smith)
Investing in cryptos takes commitment, and we all need a reminder as to how we can logically tackle certain situations. This book on Investing in cryptocurrency helps its readers get over the frustrations involved with not knowing which cryptos to invest in and instead guides them on how to invest like a pro.
It is written by Matthew Smith who is an entrepreneur, investor, and trader. He also published the popular ‘Passive income: a short guide to your financial freedom’, and both his books are available on Amazon as Kindle editions.
He explains his situations in the crypto investment sphere, and you will also get tips from experts on investing in cryptocurrency.
Plus, for those that are little vague on how to buy cryptos and convert them back to fiat, the book gives you a fully comprehensive guide. This includes finding your private and public keys as well as how to use them and strategies for investing in bitcoin, ethereum, and other popular cryptos.
· Excellent guide covering how to buy cryptos
· Tips form Matthew’s own experiences & other experts
· Learn how to properly create an investment portfolio
· Manage private and public keys using various methods
· Learn about blockchain tech and its technical infrastructure
3. Swing Trading (Brian Price)
The previous 2 books give beginners and intermediate crypto fanatics insights into cryptocurrency investment as well as where to begin. They also help to brush up on existing knowledge filling in any holes in your knowledge.
Conversely, ‘Swing Trading’ takes things to a whole new level of ‘Investing in Cryptocurrency’.
Brain Price whisks you into the topsy turvy world of swing trades which is not a cryptocurrency only trade type. Swing trading has long been popular within the stock and FX markets as it is based on the principle of capturing short- to medium-term gains in a short space of time.
Swing trading is a concept quickly made its way over to cryptos where it is a popular way to trade due to the volatility of cryptocurrencies compared to stocks as cryptos can move 5%, 10%, 15%, and 20% in very short spaces of time. However, those swings are not always positive making this trading tactic risky and therefore reading a book written by an expert is a must-do task if you want to become a successful swing trading expert.
What’s great about this book is that it takes you through a variety of swing trading concepts and strategies, introduces you to each one using a step-by-step formula, and then later throws you into real-life scenarios and trades that happened – both good and bad so you can learn the good, bad, and downright ugly sides to this side of crypto trading.
The main take-home from the way this book walks you through this concept is you will learn the optimal times of when and how long you should hold your position on trades, and when the best time is to sell so you reap the rewards of maximising ROI.
Although initially, the overview seems complex, the way this book walks you through the subject of swing trading is extremely well planned, which you would expect from a bonified swing trader. You begin by learning the basics of swing trading, then you will start to understand chart patterns, creating trade strategies and plans, and tons more.
It is fair to say that this book leaves no stone unturned. Just don’t lose concentration mid-way because after you pick up the basics the middle of the book is important as things begin to get quite complex as you reach the final chapter and you may find yourself going back.
The fact that this book can take you from a basic swing trader to an advanced one over a few very well and timely chapters is why this book easily makes it to our ‘Best 5 Books on Investing in Cryptocurrency’ guide.
· A great introduction into swing trading, what it is and how it works
· Discover the best strategic approaches to swing trading
· Learn about strategic planning, decision-making, and money management
· Apply swing trading strategies to trading stock, currencies, and cryptocurrencies
· Understand the concept of technical analysis
4. Cryptocurrency Mining For Dummies (Peter Kent)
Even if you are not planning on mining cryptos, this book is brilliant. And if you are someone that wouldn’t mind learning about mining cryptos, then all the better because this is the best slingshot book that launches you knee-deep into this complex area of cryptos.
Mining is a crypto investment of its own, and getting into this sphere is no easy task. The key advantage as an investor or trader is that ‘Cryptocurrency Mining For Dummies’ delves into how cryptos work from a crypto miner’s perspective. This is something most of the books mentioned above do not dig deep enough into, and so reading about mining is an excellent way to further broaden your understanding of how cryptos work.
You will learn the equipment you need to invest in, the software required, and different mining strategies for a variety of cryptocurrencies namely DASH, Monero, LiteCoin, Bitcoin, and Ethereum.
As a miner, you will also need to understand how to maximise your ROI as with any business or segment of crypto investment or trading.
And although Peter Kent, the author, is not a crypto miner by trade, he is an established journalist who has knuckled down on his research and delivered a book that spells out how crypto mining functions while delivering his well-researched information in layman's terms making ‘Cryptocurrency Mining For Dummies’ very easy to understand.
· Discover the basics of mining and move into advanced mining
· Learn about the hardware and software needed for mining
· Choose cryptos to mine that give you the best ROI
· Apply strategies that help you adjust to future trends
· Strategies for investing in Bitcoin, DASH, & other cryptos for mining
5. How Money Got Free (Brian Patrick Eha)
The final book we would like to recommend is not so much strategy-driven but more of a non-fictional story covering cryptocurrencies as a whole. The author of this book is a journalist that lives in the Big Apple.
He follows cryptos and bitcoin with a passion which led him to write this entertaining and extremely interesting book that covers cryptographers, hackers, self-taught entrepreneurs, and teenage futurists while he also digs deep into how the industry attracted ex-cons and drug dealers as well as what motivated the different characters he covers to step into the world of crypto.
Brian Patrick Eha also looks at how cryptos came to see the light day. The grudges against governments trying to control every aspect of society and how to stop what they believe to be the inevitable power shift leading large banks and corporations to take over and influence society. Those very same institutions are the ones lobbying to curtail the advance of cryptocurrencies and blockchain tech!
There is however a group of billionaires, millionaires, and those passionate about the advancement of blockchain tech fighting back against the very corporations and governments trying to take away a technology that gives people back their liberty.
· The history of cryptocurrency in an easy to read story
· A book based on the creation of cryptocurrencies
· Read about the diverse characters involved in cryptos
· Learn above the people Vs governments and corporations
· Discover opinions on how cryptos will give us more liberty