The Best Way to Learn About Crypto

Learning is a journey of discovery, and the road to mastery involves developing a deep understanding of a subject, acquiring the ability to apply what you have learned, and then continuously refining your knowledge and skills. Cryptocurrency, as a subject, presents an interesting case study due to its multidisciplinary nature, involving areas such as technology, economics, and finance. This article will explore a comprehensive strategy for effective learning, using cryptocurrency as our subject.

Why Should You Learn Crypto?

Crypto is the future. Cryptocurrencies will be like the internet. You probably heard this many times. This may be an example of the secular trend that is currently emerging. More and more people have access to the internet, are digitally native, and have at least heard about digital assets. These will continue unless significant factors change. New technology means new opportunities if we know to leverage it. How are you preparing for these changes?

Crypto is not only about investing or trading. This is a new ecosystem where other skills are needed. Marketing, development, sales, writing, and community management, to name a few. There is a big chance that you find something for yourself here.

Define Your Learning Objectives

The first step to effective learning is defining what you want to achieve. Your learning objectives will guide your study plan and help you focus your efforts. For example, if your goal is to understand how blockchain (the technology underlying most cryptocurrencies) works, you must delve into topics like cryptography, distributed systems, and consensus algorithms.

If finance brings you to cryptocurrency, you must obtain different knowledge. Are you a trader looking for quick wins or a fundamental investor who wants to play out secular trends? If the second approach is for you, check also my book to better define your goals and create a plan to achieve them.

Develop a Study Plan

A well-structured study plan helps maintain consistent progress. You can break down your overall learning objectives into smaller, manageable chunks. For instance, you could dedicate the first week to understanding the basics of blockchain, the next week to learning about different types of cryptocurrencies, and so on.

You can find many resources on these websites:

• https://a16zcrypto.com/posts/article/crypto-readings-resources/
• https://github.com/jpantunes/awesome-cryptoeconomics
• https://www.realvision.com/videos/crypto

Here is a mind map that I use to structure my knowledge about crypto investing. I created it using Xmind, which I highly recommend.

Balancing Breadth and Depth

Striking a balance between breadth (knowing a little about a lot of topics) and depth (knowing a lot about a few topics) is important. In the initial stages of your learning journey, aim for breadth. As you start understanding the broad concepts, you can dive deeper into topics that interest you the most.

For example, once you have a broad understanding of different cryptocurrencies, you may choose to dive deeper into Bitcoin's underlying technology or the economic model of Ethereum.

Check the Top 10 or 100 (depending on your time) the biggest crypto projects based on their market capitalization. You find them on coin aggregator sites like CoinGecko. Now, try to explain why each of those projects has a high market capitalization. Don’t focus on value but on the price. The value cannot explain why many meme coins are in the Top 100.

For example, Bitcoin was the first crypto project. Ethereum was the first smart contract platform. Tether was the first stablecoin. Try to give the same explanation for other coins.

I know that the statements above are oversimplified. You do a more detailed summary using SWOT analysis. The point is to have a big picture of the whole crypto market.

Bonus question. Try to explain what needs to happen for each project to fall out of the ranking.

Active Learning

Active learning involves engaging with the material, not just passively reading or watching. As you learn about cryptocurrency, try to apply your knowledge. For example, you could set up a digital wallet and engage in trading on a crypto exchange or DeFi. Even try to develop a simple smart contract if you're learning about Ethereum.

We don’t know what we don’t know. Learning by doing is a great solution for this.

Seek Feedback and Clarification

Learning is a cyclical process of understanding, application, feedback, and improvement. Participate in online discussions, ask questions, and seek advice from more experienced individuals in the crypto field. If you encounter an unclear concept or practice, don't hesitate to ask for clarification or search for additional resources to understand it.

Discord, Twitter, Telegram, and Reddit are the most popular crypto media. Choose whatever best serves you.

Reflect and Assess Your Progress

Self-assessment is an important part of the learning process. Regularly take time to reflect on what you've learned. Try to explain the concepts to someone else or write a summary of what you've understood. This process of reflection and explanation reinforces your learning.

It is important to perform an evidence-based evaluation to determine whether we are progressing toward our learning goals. This evaluation should confirm that we are on the right track and identify ways to

promptly expedite our progress and achieve our goals. By utilizing evidence, this process can be improved continuously.

If your goal is to be a better investor, you can use these questions to review your learning outcomes:

• What were my accomplishments? – We embarked on some financial targets. Were these achieved? If not, what could be the possible reason?
• What are my feelings toward this? – What are your emotions regarding these outcomes? Regardless of whether we've met our targets, satisfaction can still be attained.
• What was my performance like? – How do we measure up our results against those of other investors? How were we affected by the market trends and other external influences?
• What insights have I gained? – What knowledge did I acquire from the previous assessment period? What was I aiming to understand during that time?
• What areas need enhancement? – What aspects do I want to better in my investment approach? Why does this matter to me?

Continuous Learning

Learning never stops in a field like cryptocurrency, which is rapidly evolving. Even after achieving your initial learning objectives, continue to follow the latest developments in the field. Subscribe to relevant newsletters, follow influencers and experts in the field, and participate in webinars and workshops to keep your knowledge up-to-date.

Learning about cryptocurrency exemplifies the approach to learning any complex subject. By setting clear objectives, curating quality resources, actively engaging with the material, seeking feedback, reflecting on your progress, and committing to continuous learning, you can effectively master your chosen field of study.

What Next?

You can find more in my upcoming book “CRYPTOCURRENCY INVESTING The Fundamental Analysis Guide: How To Become A Successful Cryptocurrency Investor Using Fundamental Analysis.”

This is the book I wish I had read when I started my journey.

Follow me on Twitter to get a sneak peek of what is coming!