In a recent episode of The Moneyverse Show, hosted by Andreas Vecchiet and co-hosted by global money expert Lionel Lee, the spotlight was on cryptocurrency as a potential avenue for future wealth. The guest of honor was Anndy Lian, a best-selling author, intergovernmental blockchain advisor, and early crypto advocate. With over a decade of experience in the crypto space, Lian shared his insights on the question: Is crypto a good way to make money for the future?
Here are the key highlights and takeaways from the conversation:
The Question: Is Crypto a Good Way to Make Money?
Lionel Lee, the show’s co-host, posed the viewer’s question to Lian, asking whether crypto is a viable way to generate wealth in the long term.
Lian’s response was nuanced, offering both optimism and caution. He began by explaining that the answer is both “yes and no,” depending on the individual’s approach, risk appetite, and understanding of the market.
Long-Term Investments in Crypto
Lian highlighted the importance of a long-term perspective when investing in cryptocurrency. He suggested that investors focus on the top 10, 20, or 30 cryptocurrencies listed on platforms like CoinMarketCap or CoinGecko. These coins, often referred to as “blue chips” in the crypto world, are more stable and less volatile compared to newer, lesser-known tokens.
“If you invest in the top cryptocurrencies for the long term, the returns can be stable and satisfactory,” Lian explained. He emphasized that while these investments are not without risk, they are comparable to traditional financial instruments in terms of stability.
He cited examples like XRP, which recently experienced a significant price surge. Investors who bought in at a low price could see returns as high as 5x. However, Lian cautioned that such opportunities require patience and a willingness to hold through market fluctuations.
The Appeal of Control in Crypto Investments
One of the key advantages of cryptocurrency, according to Lian, is the level of control it offers to investors. Unlike traditional investments managed by private bankers or financial institutions, crypto investments allow individuals to have full control over their assets.
“You control everything you’re trying to do,” Lian said, highlighting the decentralized nature of cryptocurrency. This autonomy is particularly appealing to investors who prefer to manage their own portfolios.
High-Risk, High-Reward Opportunities
For those with a higher risk appetite, Lian discussed the potential of investing in new and emerging cryptocurrencies. These tokens often experience rapid price increases shortly after their launch, offering the possibility of significant returns in a short period.
“If you’re willing to put in what you can afford to lose, say $1,000, and invest in new coins, you could potentially see a 10x return within a day or a week,” Lian explained. However, he cautioned that these investments are highly speculative and should only be pursued by those who understand the risks involved.
Balancing Risk and Reward
Lian stressed the importance of balancing risk and reward when investing in cryptocurrency. While blue-chip cryptocurrencies offer stability, newer tokens provide the allure of high returns. He advised investors to diversify their portfolios and only invest what they can afford to lose.
“It all comes down to the individual’s appetite for risk,” Lian said. He encouraged viewers to educate themselves about the market and make informed decisions.
The Future of Crypto as an Investment
When asked about the future of cryptocurrency as a way to make money, Lian expressed optimism. He believes that crypto will continue to be a viable investment option, especially as the market matures and more institutional players enter the space.
“The future for earning good money in crypto is definitely there,” Lian concluded. However, he reiterated the importance of a strategic approach and a long-term mindset.
Final Thoughts
The episode provided valuable insights into the world of cryptocurrency, with Anndy Lian offering a balanced perspective on its potential as an investment. While crypto can be a lucrative way to make money, it requires careful planning, risk management, and a willingness to learn.
For those new to the space, Lian’s advice is clear: start with blue-chip cryptocurrencies, focus on long-term gains, and only invest what you can afford to lose. For more adventurous investors, the high-risk, high-reward nature of new tokens can be enticing, but it’s crucial to proceed with caution.
Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.
Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.
An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.