No sooner had I finished writing yesterday’s email than I remembered just how wild west the crypto world is.
One of the things I wrote about in my De-Cryptifying Crypto guide last summer was the importance of being able to take your crypto offline into a cold storage wallet.
Up until yesterday, I thought that meant it was safe from hackers.
It looks like Kraken Security Labs have found a way to hack into a Trezor (one of the best-known companies producing these cold storage wallets) within 15 minutes.
Which is equal parts impressive, and scary.
And shows just how young this asset class is, compared to the security you would expect if you put your money into a platform like IG or Hargreaves Lansdown.
Crypto is still the wild west of investing (hence the Will Smith reference), and you should only invest money you can afford to lose in its entirety.
That’s not to say there isn’t potential for profit, and there are plenty of 20-something millionaires from cryptocurrencies.
But tread carefully.
What Will Smith can teach us all is that building multiple streams of income is a smart path to wealth.
When he wrote, starred in, and did the theme song for the Fresh Prince of Bel Air back when I was a teenager – he created multiple streams of income from various royalties.
He then capitalised on this by writing, recording, and releasing more songs – before also appearing in and co-producing movies (at least twice he also wrote and recorded the theme song for the film).
Super smart cookie, even if his film choices haven’t always been the best.
Not content with all this, he’s partnered with his wife Jada Pinkett Smith on multiple business ventures, and has done the same with Jay-Z (no doubt amongst others).
That $300m net worth estimate (as of 12 months ago) doesn’t build itself y’know.
Now I’m not saying everyone reading this is likely to achieve the same, and we’re probably all starting a bit late if we go by Mr Smith’s way of doing it.
But there will always be opportunity, no matter what age you are now.
One of the biggest opportunities is in the cryptosphere, and is why I’ve decided to do a 48 hour-ish sale on my De-Cryptifying Crypto guide I wrote for subscribers in July.
To make it worth both our whiles I will get my printer to make physical copies of these, and I will also send you the two books I read and highly recommend.
The books cost £26 if you buy them on Amazon, but obviously you’ll only know which they are if you read the guide.
The doors shut on this at midnight tonight, and there’s no sales letter page for it.
You will need to reply saying you would like to buy the De-Cryptifying Crypto guide for £99, and I’ll send you the details for how to purchase.
All sales are final as always, so no money back guarantees.
Now all you need to do is get that Wild Wild West song out of your head.
All the best,
Copyrighted and published by FOAR Ltd