This article is based on a conversation with Mason Versluis, a 21-year-old Canadian crypto content creator. It has been edited for length and clarity.
I first got into the crypto world in 2017, when I was 16 years old. But when i was starting out, my wallet sank. It didn’t go well for me because I didn’t know what I was doing.
I returned to the crypto world in 2020 and realized that many of the websites were more advanced and user-friendly than previous years. I became really passionate about crypto and started making content talking about things like altcoins and crypto news.
Today I have over a million followers on TikTok, and I also create content on YouTube and Twitter.
I have also made some good investment decisions: I have invested in Hedera (HBAR) at $0.03 and has risen to $0.50. I invested in Quantum Software (QNT) when it was $28, and it has risen above $400. I entered Helio (HNT) when its price was around the dollar and it has gone up to 50 dollars.
Since I am making new content every day, it is super important that I stay up to date with what is happening in the world of cryptocurrencies.
Here are the five resources I check every morning to start my day.. It will probably take me about 30 minutes to go through all of them. I always advise anyone interested in investing to stay on top of the news and get informed, because a lot can change in a matter of minutes.
1. First I check the market with coinmarketcap.com or coingecko.com
These sites are the best way to check who are the biggest losers and the biggest winners of the moment, so the first thing I do is check which cryptocurrencies are doing well that day.
It’s also a good idea to check your wallet to see what changed while you slept.
Below, check out how both bitcoin and ethereum are doing because they tend to control the rest of the market. Bitcoin is a huge indicator of what is happening and it’s the easiest thing to look at if you’re short on time.
My preference is CoinMarketCap simply because I have used their website for years. CoinGecko and CoinMarketCap have very similar features, but I would say that CoinGecko lists some of the lesser known coins, it’s a bit harder to get listed on CoinMarketCap for some of the smaller coins… As far as the pros and cons of each, they both basically do exactly the same thing and have exactly the same features.
This may seem like overkill to some, but it’s important to check these things on a daily basis because if one of the currencies starts doing well, it’s your chance to make money. One of the biggest mistakes people make is holding onto their crypto for too long. If you know when it goes up, you know when to sell and you won’t regret it.
2. Next, I look at the volume of the last 24 hours
The volume of the last 24 hours is basically the amount of money that is moved or traded internationally in a 24-hour period. If it reaches $100 billion, that means $100 billion has been traded that day in terms of volume.
It is convenient to trade on a day with a high volume of 24 hours, because there are more chances of big movements, which is good for traders.
I was addicted to bitcoin trading, wanted to be a millionaire but ended up losing it all
My rule of thumb is that if the volume is over $100 billion, it’s a good day to trade. But the story changes if the volume is less than $100 billion; so it can be a slow day.
3. I also watch trending news with cryptopanic.com
I like to get news from many different sources, so cryptopanic.com is great for me. It is a news aggregator, which means that it takes the news about the crypto world from a lot of sites (like Business Insider) and shows the articles that come out in order of publication.
Basically this means that I can follow the news by the hour or by the minute. This is important, because some items can hit the market quickly.
4. Then I check the social volume
Social volume is the number of mentions the coin receives on social media. Those platforms play a very important role in cryptocurrencies and can really influence the performance of cryptocurrencies.
I use a website called lunarcrush.com, an AI software that analyzes all the social interactions that surround a token and shows what people say about him. This is essential in trying to anticipate which coin will be the next big thing.
I use LunarCrush by going to the “Markets” and “Discover” tabs on their website. I take a look at the top 10 coins by score (they have a custom scoring system that they use to rank coins in terms of engagement Social).
After I find a coin that is trending, I go to CoinMarketCap and look at the chart for that coin, and then do my own research on the project.
5. I’m always on Twitter
Twitter is the absolute center of the crypto world, it’s really where everything is happening. Everyone interested in cryptocurrencies should have a Twitter account and log in every day.
You have to create your own news feed. Following Coinbase and all the big cryptocurrency companies, like Bitcoin, is a good starting point.
I started by following anyone who talked about cryptocurrencies. When you follow someone, it suggests other people you might be interested in, and I followed them too. If you don’t like someone’s content, you can always unfollow them afterwards.
Over time you will get better at judging who gives the best advice. So you have to spend time on Twitter to learn. If you see a lot of respected people hate someone, they may have a bad reputation and probably not the best person to take advice from.
Even if you just glance at these five resources every morning, you’re going to learn a lot.
This is totally doable and easy to incorporate into your morning routine. And I think it’s the best way to really immerse yourself in the crypto world.
This routine has helped me immensely to stay on top of things. There is so much crypto content in the world and it can be overwhelming if you don’t know where to start. You have to narrow down your little bubble of what you pay attention to, or you will go crazy.
And it is important to remember that no one is a master in the crypto universe. Never feel discouraged if you think you don’t know enough, because even the biggest names in this world are still learning too.