How can I get started with crypto?

<div class="user-question">HI Frich! Which cryptocurrency is the best to invest in and how should i start?</div>

Hey there! I am so excited that you are asking these questions! The more mainstream crypto becomes, the safer it will be. But before we dive in - a bit of background on me and how I got into this industry.

I started my career on Wall Street at Goldman Sachs, where I got a front-row seat to how traditional finance operates. But after a while, I realized something, the financial system isn’t built for everyone - it’s built for institutions and typically the ultra-wealthy.

I don’t know if you remember what happened with Wall Street Bets and Roaring Kitty a few years back. If not, here’s a quick rundown - basically, retail investors on Reddit piled into GameStop (GME), driving the stock price up to extreme levels. This squeezed hedge funds like Melvin Capital, which had heavily shorted the stock, expecting its price to decline. But because the price kept rising, they were forced to buy back shares at much higher prices to cover their short positions, leading to massive losses and, eventually, the fund shutting down (read more here).

Here’s also a TikTok video explaining the above:

This was the moment that pushed me towards crypto. I saw it as a way to democratize access to money, investments, and financial freedom. Now, I work full-time in the industry, helping people understand how they can navigate this space, without falling for the hype.

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🤑 The Basics of Crypto

At its core, cryptocurrency is decentralized money. Unlike the U.S. dollar, which is controlled by the government and central banks, crypto runs on blockchain technology - meaning no single entity controls it. Instead, transactions are verified by a network of computers, making it more transparent and (in theory) resistant to manipulation.

Now, let’s talk about the different types of crypto you’ll hear about:

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1️⃣ Bitcoin (BTC): The OG

Bitcoin is often called digital gold because, like gold, it’s scarce (only 21 million will ever exist). It’s the safest bet in crypto because it’s the most adopted and has the strongest network. If you’re looking for a long-term store of value, this is it.

If you had put $5k into this 10 years ago, it would have been worth 1 million dollars today.

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2️⃣ Ethereum (ETH): The Tech Backbone

Ethereum is different - it’s not just a currency, it’s a whole platform where developers can build decentralized applications (dApps). If Bitcoin is digital gold, Ethereum is like the internet of blockchain. Most DeFi (decentralized finance) apps and NFTs run on Ethereum, which is why it has long-term value.

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🤑 Stablecoins: The Crypto Cash Equivalent

If you’re not into the rollercoaster volatility of Bitcoin and altcoins, stablecoins are pegged to real-world assets (usually the U.S. dollar). These include:

• USDC (USD Coin) – backed by real dollars held in reserve
• USDT (Tether) – also dollar-pegged, but has had transparency concerns in the past
• DAI – a decentralized stablecoin backed by Ethereum-based collateral

Stablecoins are great if you want to keep money in crypto without dealing with major price swings.

Holding stablecoins instead of cash makes sense only if you're looking for options to earn while you hold. With stablecoins like USDC or USDG, your money isn’t just sitting there losing value to inflation - it’s actually working for you (very similar to a HYSA). You can earn yield, move funds instantly without bank delays, and access crypto markets 24/7.

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🤑 Altcoins & Memecoins: Where Things Get Risky

Anything that isn’t Bitcoin is considered an altcoin. Some have strong use cases (like Solana, Avalanche, or Hyperliquid), while others are gambling chips.

Here’s a short video of me explaining one of the most popular altcoins, Solana:

And then there are memecoins - Dogecoin, Shiba Inu, and whatever new dog-themed coin that pops up next. Even Trump launched a meme coin.

They can make people rich overnight but are usually just short-term hype cycles. I, myself, have played around with memecoins and, while I’ve gotten lucky with some, I know people who have lost over $30,000 dollars because they didn't know when to sell.

This is basically a casino and none of the memecoins should be considered investments!

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🤑 How to Start Investing in Crypto

I get this question all the time because crypto can be confusing for the average person. It's also a bit risky, and I never suggest putting all your money - or even a large portion - into it.

In traditional personal finance, they teach the 100 rule: 100 minus your age is the percentage you should invest in stocks, while your age as a percentage goes into bonds.

Since crypto is highly speculative, I would start with a very small amount and only invest what you can afford to lose. While I don’t expect total losses, this market is still highly unpredictable.

Before touching crypto, you should:

• Pay off all credit card debt
• Have an emergency fund
• Invest regularly in stocks

Since I work in this industry and stay well-informed, I started with 20% of my portfolio in crypto.

If you feel ready to start investing in crypto, here’s how to get started:

‍1️⃣ Pick a reputable exchange – Coinbase, Kraken, OKX, Binance (if available in your region).

Here is a short video explaining an exchange and what it is:

2️⃣ Start small – crypto is volatile. A good strategy is dollar-cost averaging (DCA) - investing little by little over time, instead of dumping in a lump sum.

3️⃣ Get a wallet – If you’re in it for the long haul, don’t just leave your assets on an exchange. Use a hardware wallet (Ledger, Trezor) or a non-custodial wallet (MetaMask, Phantom, etc.). These make your crypto safer as it's stored offline.

Don’t know what a hardware wallet does? Here's a short explainer using Ledger:

4️⃣ Don’t chase hype – If you’re investing because you saw a TikTok saying some random coin is “going to the moon,” you’re probably exit liquidity for someone else. If you’re new to crypto, I’d only only look at some of the top coins that are being traded like Bitcoin and Solana, as the industry is still highly speculative

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🤑 Building Your Portfolio

1️⃣ Always DYOR (Do Your Own Research) before investing in any crypto coin.

• Look for a strong use case, reputable team, and active development.
• Check tokenomics - who owns the supply and if there’s a risk of a rug pull (the founders selling all of the supply).
• Analyze community sentiment and whether engagement is real or just hype.
• Review the roadmap, partnerships, exchange listings, and security audits.  

2️⃣ I also suggest people to take extra money lying around instead of moving things around in your own portfolio. Again, remember to never invest more than you can afford to lose!

Crypto is still evolving, and while there’s a lot of opportunity, there’s also a lot of noise. If you want to invest, focus on projects with strong fundamentals, avoid FOMO, and never put in more than you’re willing to lose. Play it smart, and you’ll be ahead of 99% of the people chasing the next get-rich-quick scheme.

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🤑 Reputable Creators to Follow

If you're looking for solid crypto resources, check out:

• Crypto Witch Club – a community making crypto more accessible, especially for women.
• Watcher Guru – a go-to source for up-to-date crypto news and market insights.
• Boys Club – a fun, inclusive space exploring the intersection of crypto, culture, and community.
• Femme Finance Official – me of course! Your go-to for financial literacy, investing, and money tips to level up your wealth.

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Btw - here's how others are doing👀

Do you invest in crypto?

👍32% Yes

👎68% No

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And remember: DYOR (do your own research)

NFA.

TTYL.

Kristina