Our 2024 Crypto Resolutions
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2023 has come and gone, and it was yet another rollercoaster year for the crypto ecosystem. Whether you’ve been in this space for just one month or a decade, if you’re still standing and learning here at this point, then you were a winner in 2023.
But what about 2024? How best to prepare in order to survive and thrive again in the new year?
Toward that end, we’ve prepared a series of crypto resolutions across five main categories that can serve as your handy checklist for staying spry and smart over the months ahead:
Adventure
Be the tip of the spear on the crypto frontier by continuing to explore new projects. Test different types of rising DeFi infra like EigenLayer, Mountain Protocol, and Yearn V3. Make your own NFT drop on Highlight, Manifold, or Zora. Experiment with L1s and L2s you haven’t tried before, like buying your first NFTs on Bitcoin, Cosmos, Solana, and Starknet. Post your two gwei on crypto social apps in the Farcaster and Lens ecosystems, and publish your long-form thoughts on Web3 publishing platforms like Mirror and Paragraph. Last but not least, play and have fun with upstart onchain games like Fren Pets and Primodium. Embrace your journey with varied experiences!
Education
Always be learning so you can keep churning ahead here. Swashbuckling around and trying new projects, as mentioned above, will go a long way toward leveling up your XP and wisdom, but also be sure to set aside some time to go deep in reading about more advanced, frontier crypto topics that will be increasingly important going forward like Account Abstraction, Blobspace, L3s, MEV, Token Bound Accounts, Validity Proofs, etc. Continue studying, stay curious, and dive deeper into the bleeding edge of our ecosystem!
Investment
In 2024, chart your crypto course with precision by getting strategic with your positions. Don’t chase every shiny new memecoin on the block. Instead, iron out your main investment thesis, like “the AI x crypto crossroads will become huge,” and hit it hard with a handful of concentrated bets. Go tall, not wide. Focus on this to avoid the pitfalls of emotional trading, which has rekt countless people before. Also, target solid yield opps, like ETH staking and low-risk stablecoin farms, because smart investing isn’t just about buying; it’s also about putting your money to work for you with good risk-return tradeoffs. Lastly, don’t let taxes be an afterthought; get proactive and prepare for them year-round so you don’t run into major headaches when tax season arrives.
Security
This new year, double down on security if you haven’t already by locking down your core crypto holdings from top to bottom. Create a “vault” with multiple hardware wallets using a Safe multi-sig, download safety extensions like Fire to preview and vet your transactions, and regularly audit your token allowances via Revoke.cash so you can ax unlimited approvals. Additionally, stay updated on ecosystem news, particularly with an eye toward recent hacks and vulnerabilities, so you can always be ready to safeguard your positions as best as possible from rising threats. When it comes to crypto, it’s always a good time to up your vigilance, so make it a point to maximize your defenses in 2024.
Giving Back
Crypto has a way of rewarding the curious and the dedicated, so if you find yourself reaping what you sow in a good way in 2024, be sure to sow a little back and pay it forward to some of the people and projects in our space so we can keep bettering and growing this ecosystem in positive-sum style. For example, donate to charities via The Giving Block, give to crypto builders on Gitcoin, or collect NFTs from lesser-known artists. Spread generosity, elevate, and enrich the communities around you; that’s how we’re all gonna make it!
All in all, in 2024, may we continue to embrace adventure, prioritize learning, strategize our investments, reinforce our defenses, and give back where and how we can.
Here’s to a year of informed actions, thoughtful investments, and community building. ♥️
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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.