Blockchain Talk Part 2: How to Not Lose Your Pants

Investing in blockchain assets requires you to manage many nuances in order to protect yourself. This talk provides guidance on how invest in this speculative market and how to manage your assets safely.

Transcript

1. A Blockchain Talk, Part Two How to not lose your pants
2. Top Level Philosophy
3. Speculative Investing Never buy on credit Only buy revolutionary ideas/tech Follow the 1-5% rule Watch emotions of fear and greed Get accounts/logins set up preemptively Move profits to cash
4. What to expect in 2018 Actual development will move forward More drops, big and little Entry of regulators Discrimination based on quality of idea AND progress Slower expansion of the market
5. Practical Applications
6. Roadmap to investment Load USD into a fiat/crypto exchange Buy a transactable crypto (Bitcoin Cash, Dash) Send to a software wallet on your computer Leave it there, backed up To trade: use your [hot] wallet To sell: send back fiat/crypto exchange, sell to USD
7. Fiat/Crypto Exchanges coinbase.com gdax.com uphold.com
8. Wallets Software Hot Wallets w/ built-in exchange capability Jaxx: jaxx.io Exodus: exodus.io Hardware wallets Trezor: trezor.io Ledger Nano S: ledgerwallet.com Software Cold Wallets, Paper Wallets
9. Jaxx Live Demo!
10. Security Best Practices
11. Security is a spectrum How do you ‘own’ a token? Increase your security as your investment grows Secure any device that touches private keys or restore phrases The further away from the internet, the safer your investment is Add pins to hot wallets, store restore phrases securely Use 2FA for all exchanges
12. Securing a device OS: strong password that you type out Hard drive: encrypted Backup services: end-to-end encryption; stored as encrypted Time Machine HDD: encrypted
13. Securing Your Assets Keep Jaxx on a single secured computer Keep a paper copy in a safe place Give a copy to a trusted friend to keep in their safe Treat your phone like a wallet; only hold a small amount Avoid website wallets unless recommended
14. Don’t be fooled by phishers Always confirm the URI of the site you’re visiting is correct Click around the website a bit before you enter sensitive information Don’t click links in your email. Use a separate browser from your normal browsing
15. How much am I worth? Track your net worth without risking private keys coinhodler.io Keep a spreadsheet up to date
16. Getting Deeper: Crypto Exchanges
17. Beware Crypto Exchanges Loading crypto in is easy, but pulling it out might not be Your account’s crypto is the exchange’s, not yours Always move crypto to your personal wallets after trading
18. Crypto Exchanges GDAX (gdax.com) Poloniex (poloniex.com) Bittrex (bittrex.com) Binance (binance.com) Bitfinex (bitfinex.com)
19. Investing Hot Tips Build positions over time Always send a small amount of asset first Keep 20% of your allotted assets in cash Use this to buy in corrections and dips Sell profits to cash, especially when you think it’ll go higher
20. The End Game
21. Where is crypto going? As an investment, Crypto has multiple values As an asset sellable to dollars (like stocks) As money, as well as its many other uses Maybe the end goal isn’t selling?