2025 New Year’s resolutions for any crypto advocate

As a seasoned crypto investor with years of experience navigating the ever-evolving digital asset market, I can confidently say that the past year has been nothing short of transformative for the crypto industry. From the meteoric rise of Bitcoin to the emergence of innovative DeFi projects, it’s clear that the future is here.

Having learned from my own mistakes and successes, I have come to appreciate the importance of staying informed about market trends, securing assets properly, and embracing new technologies. One of the most significant lessons I’ve learned is the need for caution when investing in new or obscure tokens, as diversification is key to a healthy portfolio.

In light of the recent surge in crypto adoption, I am particularly excited about the potential for everyday transactions using digital assets. Services like Bitrefill and BitPay have made it easier than ever to use Bitcoin, Ether (ETH), Tether (USDT), USD Coin (USDC) and more for everyday purchases. And with growing numbers of brick-and-mortar retailers accepting crypto payments, I can now even buy a cup of coffee or fill up my gas tank using my digital tokens.

However, the increased adoption also comes with new risks, such as potential regulatory changes and cybersecurity threats. That’s why it’s essential to store assets securely, preferably in cold storage solutions like Ledger or Trezor. I’ve learned from past mistakes and now keep my portfolio consolidated and stored safely offline.

Another crucial aspect of being a responsible crypto investor is sharing knowledge and insights with others without crossing the line into evangelism. It’s essential to be transparent about potential risks, complexities, and the real-world applications of the technology while remaining open to questions and concerns. As they say, “The best way to predict the future is to create it.”

Lastly, let me leave you with a little humor: I remember when buying groceries with Bitcoin seemed like science fiction! Now, I can even book flights and hotels using digital assets. Who knows what the future holds? Maybe one day we’ll be paying our taxes in Ethereum or even Dogecoin!

Over the last year, cryptocurrency has firmly established itself as a significant catalyst for change in the world’s economic landscape, from its widespread acceptance to the election of a pro-crypto government in the U.S. As we welcome the New Year, it’s an ideal moment for crypto enthusiasts to look back on their strategies and make adjustments in their engagement with the digital asset market.

Regardless if you’re an experienced investor or a curious beginner, making impactful changes in your investment strategy can lead to success. This could involve being more strategic with your spending, as well as educating others about this topic. These changes aren’t just about personal development but also about influencing the evolution of technology that is transforming the principles of finance.

Be more vigilant for scams, rug pulls and dumb tokens

Regrettably, even with numerous alerts and learning materials available, cryptocurrency scams persist in causing significant harm to countless individuals. The gravity of this problem became strikingly apparent on November 14th, when a whopping 31 instances of ‘rug pulls’ happened in just one day, leading to losses amounting to $15 million that very month.

Recently, the Hawk Tuah (HAWK) token’s sudden dump served as a stark wake-up call, highlighting how easily some investors jump on board with projects that seem questionable, if not outright fraudulent. After its initial launch, HAWK’s market cap soared to an astounding $490 million, only to plummet by 91% to $41.7 million within a mere three hours. As a crypto investor, such events serve as a constant reminder of the need for due diligence and careful consideration before diving headfirst into new ventures.

Conduct thorough investigations, maintain a healthy dose of skepticism towards claims of instant wealth, and bear in mind that swindlers often target people’s desire for quick gains – so, if you find yourself becoming overly greedy, exercise caution. This includes examining even seemingly credible ventures supported by well-known individuals as closely as possible.

Transform your BTC into a passive income opportunity

Over the last year, Bitcoin (BTC) has transformed into something more substantial than just a means for storing value (SOV). Initially, critics argued that its functionality was limited in comparison to other blockchains. However, the situation has significantly shifted with the advent of advanced layer-2 (L2) technologies and smart contract platforms, broadening Bitcoin’s capabilities.

Projects such as Stacks, Rootstock, Liquid, and Babylon have significantly expanded Bitcoin’s functionalities, introducing advanced Decentralized Finance (DeFi) features often known as BTCFi. These advancements allow for the integration of complex financial operations like yield farming, lending, and liquidity provision directly onto the Bitcoin network. Essentially, they merge Bitcoin’s strong security with Ethereum-like programmability, creating a bridge that makes these functionalities possible.

In terms of numerical growth, the market has enthusiastically embraced these advancements, as the combined value locked (TVL) in all Bitcoin DeFi protocols escalated from $306 million during Q1 2024 to a striking $7.4 billion by Q4 – a massive jump of 2,180%.

Meanwhile, some Bitcoin users remain apprehensive about converting or linking their BTC for use on an EVM-compatible platform. However, initiatives such as Core Chain empower users to generate returns while retaining ownership of their Bitcoin.

Encourage your TradFi friends and family to dip a toe into Bitcoin

Lately, the cryptocurrency market has scaled remarkable peaks, soaring beyond a staggering $3.9 trillion in total value during the month of November. This notable achievement, along with the increasing acceptance among institutions, has paved the way for a variety of investment avenues that cater to more conventional investors.

2024 marked a significant turning point with the approval of eleven Bitcoin ETFs in the US. Financial titans such as VanEck, WisdomTree, and Franklin Templeton were some of the managers behind these products. These approvals made it possible for people to invest in cryptocurrencies using their traditional investment accounts more easily.

Additionally, there are chances for Exchange Traded Funds (ETFs) to invest in assets such as Ethereum and possibly XRP in the near future. Moreover, financial giants like BlackRock and Fidelity provide opportunities that aim to reduce risks associated with volatility. For example, BlackRock’s BUIDL platform manages user capital by investing it across dollar-equivalent assets such as cash, US Treasury bills, and repurchase agreements. This fund is supported by short-term U.S. Treasuries and currently manages $540 million in assets under management (AUM).

Make more payments using crypto

As the number of cryptocurrency users is projected to grow to 562 million by 2024 (up from 420 million in 2023), it’s an ideal moment to begin incorporating digital assets into your everyday spending. This is particularly true given the substantial advancements made in the infrastructure for crypto spending over the past year.

Services such as Bitrefill facilitate users in converting their digital currencies like Bitcoin, Ether (ETH), Tether (USDT), USD Coin (USDC), and more into everyday purchases. They offer gift cards, mobile recharges, and numerous other services for over 1,650 businesses spread across 170 different countries. Similarly, BitPay has developed a versatile system that empowers businesses globally to effortlessly receive various cryptocurrencies.

An increasing number of traditional shops have been incorporating cryptocurrency transaction systems into their online structures. As an example, the American convenience store chain Sheetz has declared that it now accepts Bitcoin and Ethereum as payment in all 750 of its stores. This means customers can now purchase items ranging from a cup of coffee to fuel using their digital coins.

Similarly, the travel sector is also partaking in this technological upheaval, as platforms such as Travala.com allow cryptocurrency transactions for hotel reservations and airline tickets, along with various other services.

Upgrade the security of your crypto assets

As a researcher delving into the crypto sphere, I can’t stress enough the significance of portfolio consolidation and secure storage in today’s context. Instead of scattering my funds across 620 lesser-known tokens, distributed across various exchanges and hot wallets, I advocate for a more strategic approach. This involves consolidating my investments into a thoughtfully chosen assortment of established cryptocurrencies, and safeguarding them in cold storage solutions.

Top-tier hardware wallets such as Ledger and Trezor are widely recognized as the benchmark due to their robust, bank-level security measures designed to safeguard digital assets against cyber threats. They also ensure users retain full ownership of their private keys for ultimate control over their own funds.

As a seasoned cryptocurrency investor and user of various digital assets over the past decade, I have witnessed a significant trend towards cold storage solutions. In my personal experience, this shift has been driven by the increasing need for secure and decentralized methods to store and manage my digital assets. The drop in the amount of Bitcoin held on centralized exchanges (CEXs) over the last year is a testament to this growing preference for offline storage options.

I have personally employed multi-signature setups, such as those used with Safe Wallet, to access my on-chain smart wallets. This method provides an added layer of security and ensures that my assets are stored in a way that requires multiple approvals before any transactions can be executed, thus reducing the risk of unauthorized access or theft.

In my view, this trend towards cold storage solutions and multi-signature setups is here to stay as more individuals and organizations recognize the importance of securely managing their digital assets. As our reliance on cryptocurrencies continues to grow, so too will the demand for robust and reliable storage options that prioritize security and privacy.

Share your crypto knowledge, but don’t pressure your friends

In my own personal experience, I’ve found it can be a delicate balance between offering valuable insights and crossing the line into unwanted proselytizing. I’ve seen this happen to others and even experienced it myself when I was overzealous in promoting something I believed in passionately. However, when people invest in something they don’t truly believe in, it often leads to resentment or disappointment down the road. So, I always make an effort to share my insights respectfully and authentically, allowing others the freedom to make their own decisions based on their beliefs and experiences.

Consequently, the individuals who have been the most successful in promoting cryptocurrencies are typically those who emphasize the technology’s possibilities and practical uses, while also acknowledging its challenges and intricacies.

2025-01-01 03:28