The reason most don't succeed or stay long in crypto is ignorance, so today we've got an expert who'll be helping with answering some important questions that'll help guide you to succeed on your crypto journey. He'll give the best tips, advice, and resources that can work wonders during your journey into the blockchain industry.

Here's a brief overview of our expert special guest:

He goes by the name "LAYNCOIN", which was inspired by two major factors. The first is Abraham Lincoln, the 16th president of the United States, who modernized the US. The second, the coin part, was derived from crypto (especially Bitcoin). It's been crypto that made him what he is today. It has played a major role in his life, his school, his lifestyle, and many other aspects of his life. It even aided in his payment of his university tuition fee.

It started eight years ago when he worked at a cybercafe as a manager. He noticed a man who went there almost daily, spending almost the entire day surfing the internet. This intrigued him. He wanted to figure out what he was doing all through—what made him stay so long?

a) Can you tell us what sparked your interest in the crypto field, what initial challenges you faced, and how you overcame them?

His journey started with gift cards; whenever you trade a gift card, you're given Bitcoin in exchange. As a cyber cafe manager, he had contact with some trusted people. He helped them trade their gift cards for Bitcoin. He noticed that whenever he kept a little Bitcoin, the price fluctuated every day, even by a little; most of the time, the price went up. So it got him even more interested. One day, he went up to the man and asked him to explain what it was all about. reluctant at first, the man ended up calling him and explaining it to him, encouraging him to take up the opportunity, and taking up the role of mentoring him for a little fee, teaching him all he had to know.

He faced the challenge of not having a computer of his own then, so he was unable to go into it directly. His phone was of no help either. He saved for a while and bought a portion of Bitcoin, and he sold it when it was higher. There was a moment when the price went up abruptly, getting a lot of new buyers, but to the unpleasant surprise of most, the price had a huge fall. He, however, used it to his advantage by buying a lot more at a lower price and keeping his hopes high about it going up again.

b) What are your key strategies, techniques, or unique approaches to crypto trading that have contributed to your success? And what specific tools or resources do you think would be useful to readers?

Before going into the field, he suggests you get the book "Trading Wisdom: 50 Lessons Every Trader Must Learn by Cheds", as it's been a key factor in his success as a crypto trader. He also urges people to learn from good traders, as it'll be worth the investment in the end.

His major approach to trading is trading 1% of his portfolio; that’s his main strategy. He says not to overleverage, as it won't really pay off—even healthwise. It's better to plan well and not just go all in. Take enough time to analyse and have a good plan before going in. He takes about 30 minutes reading charts and analysing before trading instead of just rushing all in. It's also essential that you don't just blindly do what others are doing. Analyze well, plan well, and take reasonable risks. We all have different views.

Relating to his previous point, though it's famously said, “Don't just go with the crowd,” in crypto, however, you don't want to go against them, particularly expert traders. Plan well and strategize as required, but don't miss the chance of a great trade; if you do, your chances of loss are high. Even when following expert traders, you're more at peace if you trade 1% of your portfolio and not overleveraging.

When going into trading, don't spend past what you can afford to lose. He says it's best to detach from all emotions attached to your investment. Trading requires a lot of patience and emotional control. Also, don't jump into a trade out of fear of missing out (FOMO); this is almost like the point mentioned earlier; analyze and plan your trade well. Even after investing or trading, analyze if it's going as planned or not. If it's going otherwise, change your strategy. Executing a good trading plan requires patience on your part.

c) What are the biggest lessons learned from your trading experiences? What major setbacks have you encountered along the way, and what were your strategies to overcome them?

He learned a lot of lessons as a trader, but the two most important ones are:

1. Don't trade around the clock; crypto has been here for quite a while now and will always be. So don't feel rushed or pressured to trade.

2. Don't jump on every tip on the market. Don't trade on every signal without analyzing it. It has a number of disadvantages; one is that it makes you lazy, and another disadvantage is the fact that the person who gave you the signal might not have even analyzed it well.

He has had quite a few setbacks also, but there's one that's applicable to almost all traders.

That major setback is blowing your account. It's really general, as he's heard a lot of people complain after doing this. They lose their interest in crypto, not knowing they're unconsciously at fault. Using all your money makes you feel like you've lost everything. Your morale dies, especially when you lose all or most and you want to give up on trading.

Most people mistake "not knowing what to trade in" for "not making profit." Crypto isn't at fault here; it's them; it's caused mostly out of ignorance. That's why he advises you to get a mentor and to read well before going into it. Also, don't rely totally on YouTube; it's not enough. Some YouTubers don't even know well enough what they're doing, but a few are actually good, so don't follow YouTubers blindly.

d) What advice do you have for aspiring crypto traders—insights and tips for individuals who are interested in pursuing a career in crypto trading, recommended educational resources, and important factors to consider before diving into the market?

You've probably learned a thing or two if you've been following from the start, but here's a quick recap and some tips and important factors:

He suggests, even after reading the book, have an expert to guide you through. If you can afford it, pay for a mentor. It pays off in the long run. Don't limit yourself to just one person or source of information. Learn from different people, books, and resources. However, he advises that it's still best to pay for a good mentor, as mentioned. Where you put your money is where your mind is. Learn from someone who actually trades and is good at it. Paid services are better than free ones; you won't feel indebted to the mentor, so you'll be a lot freer to learn his strategies and challenge his analysis.

Your chosen mentor must be someone you know is confident enough to teach you. His mentor once told him a saying: "A good trader is different from a profitable trader." It took a while for him to know what it meant, but he finally figured it out. Profitable traders make almost as much loss as profit. Even though a good trader loses too, it's just a lot less, and a good trader is confident in his trading skills. In crypto, you'll meet some people who'll charge a lot to mentor you; you might come across some frauds, while others won't even care about you. They just want to get paid, and they'll teach you lightly without going in-depth. The way you relate to them also determines how they treat you.

He advises that before going into crypto, you should have these three things in mind:

1. If you're afraid of trading, you can be an investor. Pay experts who can help you research crypto assets... Ask for the best asset, and ask for resources for you to do your personal, in-depth research on the asset before investing in it. There are some fraudulent crypto assets and projects out there. Do deep research because some are there to scam, some to fail, while others are actually there to stay.

2. Keep in mind that in the trading aspect, patience is required to build capital.

3. There's the derivative part of crypto called features trading. It's easy to gain really quickly; it's also just as easy to lose largely so you should know what you’re doing while trading features..

e) How do you manage to stay updated with the latest trends and developments in the crypto market?

His most reliable way of staying updated, he says, is X (Twitter). There are X (Twitter) handles out there that give news updates that crypto blogs won't even give out. Follow BigTrends on Twitter and some other experts and handles to stay updated on trends.

f) What's your future outlook for the crypto market, your perspective on the future of the crypto market, your thoughts on emerging trends, potential challenges, or any exciting opportunities you foresee?

He says the future of crypto will be exciting, and whoever wants to get on board should start. It's still in its early stages, and there are chances right now and more to come.

"For those interested in investing, this is the best time to join, as there are many opportunities right now and there are more to come. There are new coins coming into crypto almost every day." To stay updated on new or existing projects, go to coinmarketcap.