As a crypto trader, you must have comprehensive knowledge about the industry; from the fundamentals (like the Bitcoin whitepaper) to much more intricate subjects (like regulatory issues and ecosystem characteristics). Furthermore, each crypto trader must be well informed about the principles of money allocation and investment strategies.
Reading articles and listening to podcasts might provide you with interesting data, but if you are striving to create a new neural connection or to obtain substantive knowledge you need many hours of book reading. Before investing in crypto, maybe it’s better to invest in yourself first.
After far-reaching observations and reviews of numerous books on various aspects of this topic, we are giving you a list of 5 must-read books to guide you through your trading ventures.
The Internet of Money
Author: Andreas M. Antonopoulos
If you are a starter and consider launching your investment adventures, the book is just for you. Originally starting as a series of essays about crypto trading, “The Internet of Money” reveals the “why” behind the Bitcoin (BTC). Probably you are interested in how Bitcoin operates and why it is so important. Andreas discusses many of Bitcoin-related questions and how crypto can be scaled up in the prospect.
Nevertheless, do not expect a comprehensive analysis of the technology or applications. If you’ve been in crypto for a while you’ll just blaze through the book. You will experience an entertaining read, with Andreas’ analogies and metaphors. As he puts it: “Bitcoin is a bit like an onion. You have to unwrap it. As you unwrap it, you find one more layer.”
Author: Alan T. Norman
Norman’s book is one of the latest available ones covering our topic. It is outstanding work if you want to invest wisely and to overcome your fear of making the first trade. Additionally, it is an excellent wellspring of concepts for amateurs and middle-of-the-road dealers. In his work, the author indicates ways for crypto traders to bypass colossal speculations and includes many examples on live charts, which make it is easy to understand.
After reading the book you can learn:
- Why active crypto trading is almost the best way to make money.
- A step-by-step plan on how to develop further in order to make a profit in a month, in a quarter and in a year.
- Specific trading tactics when to buy and when to sell in order to make a profit.
- Why simple methods work in crypto trading, while on classical markets they stopped working.
- Resources that help to understand the crypto trading and give tips on when to buy/sell.
Life After Google: The Fall of Big Data and the Rise of the Blockchain Economy
Author: George Gilder
As a trader, besides the current market conditions, you should always see the bigger picture and foresee the opportunities most of the traders may miss.
George Gilder, the mastermind visionary of economics and technologies, is the author of more than a dozen books, including the international bestseller Wealth and Poverty, Life After Television, Knowledge and Power and The Scandal of Money.
In Life after Google, Gilder reveals why Silicon Valley is experiencing a nervous breakdown and what to anticipate as the post-Google age rises. As he puts it, the future is the “cryptocosm”—the new architecture of the blockchain. Empowering cryptocurrencies such as Bitcoin, Ether, NEO, and DASH, it will provide the world web with a reliable payments system, ending the aggregate-and-advertise Age of Google.
The book is full of great anecdotes and quotes, with our favourite one being:
“Washington’s rule: If it moves tax it. If it keeps moving regulate it. If it stops moving subsidize it”.
Life after Google is almost here.
Alchemy of Finance
Author: George Soros
This book reveals the author’s philosophy of reflexivity, how it relates to market conditions and expands one’s perception of how the capital markets operate. Nowadays, crypto markets are the inseparable part of the capital markets and, of course, the modern economy (read our article about the crypto affecting world trade). Although the author was relating to the traditional markets, fundamentals and the approaches are still in force in the crypto too. The following quotation proves our point.
“The fact that a thesis is flawed does not mean that we should not invest in it as long as other people believe in it and there is a large group of people left to be convinced. The point was made by John Maynard Keynes when he compared the stock market to a beauty contest where the winner is not the most beautiful contestant but the one whom the greatest number of people consider beautiful. Where I have something significant to add is in pointing out that it pays to look for the flaws; if we find them, we are ahead of the game because we can limit our losses when the market also discovers what we already know. It is when we are unaware of what could go wrong that we have to worry.”
A famous crypto trader and influencer Crypto de’ Medici mentioned Soros’ work in his top of the favorite trading and investing books. The book may be a bit thick-skulled but it is compensating for those who have the will to finish it.
Extraordinary Popular Delusions and the Madness of Crowds
Author: Charles MacKay
First published in 1841, Mackay’s book is still one of the most valuable books ever written about mass psychology, particularly when it comes to the intersection of masses and markets. MacKay’s most famous study is of the Dutch tulip mania, an old commodity bubble almost as far from reality as crypto is often blamed for being.
MacKay’s book is much broader than that, including a range of mass manias and hysterias, from witch hunting to quack medicine. For crypto investors, still spinning from the 2018 crypto crash, the moral of the modern manias needs some clearing up. When the next market bubble comes along (as it surely will), you are advised to revive the plight of some of the unfortunates on these pages and avoid getting dragged. Anyone who followed the rise of ICO scammers, enabled by the hype engine of social media and gaudy news websites, will recognize the origins of modern media’s failings in MacKay’s 180-year-old book.
While the crypto market is essentially affected by speculation, the fundamentals remain solid and will have more and more effect in the future. The five books we have mentioned above can help you graduate from a beginner to a pro. So get a copy now and have a good read.
Is there prominent crypto or trading book that you have read recently?
Share it with us in the comment section below!