The crypto market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.

A lot of people come to the crypto market to “get rich quickly”. And although it’s possible (if you buy and sell a meme coin at the right time) I would argue most people will not get that lucky.

The good news is that much more people could make a lot of money in the crypto market by just being patient. Here are a couple of tips to achieve just that:

1. Find a crypto project who’s value you believe in for the long term (10 years or more). Ask yourself: will this coin still be useful in ten years? Understand in what you are investing.

2. Invest money you can afford to lose or at least money you won’t need in the short term (5 years min) so that you are not forced to sell in a potential crypto winter.

3. Favor Cryptos that allow staking with decent APY. And stake them for as long as you hodl them.

4. Since you are in for the long run, become your own bank and understand how to manage your private keys safely. Avoid the exchange failure risk.

5. Be patient, buy more during crypto winter or big dips and enjoy the bull market or pumps. Remember if the past is any indication cycles are driven by Bitcoin halvings and last 5 years or more.

6. If you need money in the future consider borrowing against your cryptos (Coinbase offers that option already) so you don’t have to sell them. This avoids a taxable event and allows you to continue benefiting from your average annual growth and staking rewards. This is called a Lombard loan and this is how the rich get super rich.

I would argue if you invest in the right cryptos the best time to sell them will be never.

Good luck everyone!