5 Must-Have Books For Crypto Investing in 2024
If you're new to the world of crypto trading and investing and want to maximise your success, then it's strongly recommended to first level up your knowledge and comprehension.
In terms of how to best do this, there are various avenues to gain much-needed information and experience, including watching informative videos on YouTube or following crypto trading influencers on Twitter. The problem, however, is that although these options can be great as accompanying resources, none of these avenues will equip you with the same level of foundational understanding compared to doing your own research.So where's a good place to start?
Many successful investors and entrepreneurs have attributed a lot of success to the books they have read, and the inspiration and lessons found in them. This can also be applied to crypto investing, and a great place to start your journey is to read informative and thought-provoking books related to the crypto space and investing as a whole.
This article will therefore provide an overview of 5 must-have books that will help you to become more equipped to navigate the world of crypto investing.
In this article, we’ll highlight:
- The Internet of Money: A collection of talks by Andreas M. Antonopoulos: Volume 1 (Antonopoulos, 2006)
- How to DeFi - Beginner (Lau, 2020)
- Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs, and More (Balina, 2021)
- onomics and Math of Token Engineering and DeFi: Fundamentals of Token Economics (Tan, 2021)
- Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts (Duke, 2018)
Let's dive right in!
5 Books That Will Help You To Become A Better Crypto Investor
Below is a list of 5 books that will each offer unique lessons and information, which combined, can act as an extremely powerful foundation for becoming a more proficient crypto investor.
1) The Internet of Money: A collection of talks by Andreas M. Antonopoulos: Volume 1 (Antonopoulos, 2006)
Overview:
"The Internet of Money" by Andreas M. Antonopoulos is a profound read that delves more into the philosophical, social, and historical implications of Bitcoin; as opposed to the technical aspects.
As one of the most renowned experts in the field of Bitcoin, Antonopoulos builds a powerful narrative that revolves around why Bitcoin is more than just a digital currency, and how it is leading the charge in a technological and financial revolution.
Through looking at a series of his essays, this book compiles his visionary talks, and presents Bitcoin as a disruptive force capable of offering financial independence worldwide.
Why it is an excellent resource for crypto investing:
The Internet of Money is a great place to start for crypto investors, and not for the reason they may think. The value provided by this book is that it allows readers to have a strong grasp on the foundational principles (and broader implications) of Bitcoin. Unlike resources that merely describe cryptocurrency mechanics, Antonopoulos enlightens readers on the transformative potential of Bitcoin, and how its decentralisation can empower individuals; both from an economic and privacy standpoint.
So what this book does is provide beginners with a conceptual appreciation of Bitcoin's (and cryptocurrencies) role in challenging traditional financial structures. So for aspiring investors, understanding these principles will really show how crypto investing is heavily dependent on the success of Bitcoin. This, in turn, can greatly influence decision-making (whether to have a long-term or short-term investing strategy) and will ensure that investors keep adequately informed on Bitcoin's developments (internal and external).
2) How to DeFi - Beginner (Lau, 2020)
Overview:
"How to DeFi - Beginner" by Coingecko (written by Darren Lau) is a great gateway into the exciting (yet complex) world of Decentralised Finance (DeFi).
Endorsed by leading figures in the blockchain space like Kain Warwick (Synthetix), this book is widely upheld as the go-to starting point for DeFi newcomers. By breaking down complex concepts into digestible sections, this book delves into a wide array of DeFi applications—from dApps to decentralised exchanges, real-life case studies, and how Ethereum is leading the charge.
Why it is an excellent resource for crypto investing:
What this book is excellent at is demystifying DeFi’s complex world, regardless of one’s technical background.
With DeFi continuing to revolutionise the world of finance, understanding how it works, the opportunities on offer, and ever-present risks is crucial. This guide helps by providing a step-by-step approach for engaging with various DeFi platforms and also equips readers with practical knowledge to start experimenting and investing safely. It also addresses foundational elements of DeFi, such as lending, borrowing, and insurance, which are vital for those wanting to broaden their investment strategies beyond traditional crypto assets.
So although DeFi has evolved (and continues to evolve) since the book's release, this read can still equip readers with insightful information on how to navigate and leverage DeFi effectively.
3) Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs, and More (Balina, 2021)
Overview:
"Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs, and More" by Ian Balina is a comprehensive manual that builds a bridge between traditional finance and the world of cryptocurrencies.
Designed for both novices and seasoned investors, this manual breaks down complex aspects of the crypto market, including DeFi, NFTs, and security token offerings. Balina uses his technical analysis experience to break down technical barriers, and delves into key foundations that are needed in order to effectively navigate the world of crypto trading and investing.
Why it is an excellent resource for crypto investing:
This book's strength lies in its educational approach, as it does a great job of systematically covering the whole crypto spectrum; from basic financial principles to covering new crypto assets and technologies like DeFi and NFTs. What's more, each section is methodically explained so that readers really get a grasp of each concept.
The most useful section of this manual is the parts on practical investment strategies and risk management, as these are crucial elements for making informed decisions in a volatile crypto market. Additionally, the guide’s exploration of regulatory aspects and legal frameworks provides investors with a useful understanding of the importance of compliance when investing in crypto.
4) Economics and Math of Token Engineering and DeFi: Fundamentals of Token Economics (Tan, 2021)
Overview:
"Economics and Math of Token Engineering and DeFi" is your go-to guide for learning about the intersection of economics and Web3; more commonly known as tokenomics.
The book's primary aim is to decipher the complexities of tokenomics without requiring a background in Web3, finance or technology, and by expanding upon the economic behaviors and incentive structures within decentralised networks, it serves as an essential guide for anyone looking to understand the foundational economics of Web3.
Through a blend of academic research and practical case studies, this book offers one of the very best starter kits for understanding tokenomics.
Why it is an excellent resource for crypto investing:
This book is a great resource for crypto investors as it does an excellent job at explaining how tokens work, why they gain value, and how they are integrated within Web3 environments. The focus on incentive alignments and market behaviours provides investors with critical insights necessary for making informed decisions when trading or investing in crypto. Topics covered include token circulation, market capitalisation, deflationary versus inflationary token supplies, and liquidity; to name a few.
Tan's book therefore acts as a fantastic practical tool for anyone looking to navigate the complexities of investing in digital assets.
5) Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts (Duke, 2018)
Overview:
"Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts" by Annie Duke combines insights from sports, poker and business to demonstrate how systematic improvements can be made to decision-making in environments dictated by uncertainty.
Duke (a former poker champion) challenges the conventional belief that good decisions always lead to good outcomes, and vice versa. This book teaches readers to evaluate decisions through a probabilistic lens, considering possible outcomes and the influence of luck.
Why it is an excellent resource for crypto investing:
Thinking in Bets may come as a bit of a surprise to some people, but make no mistake, there is a reason why it has made our number 5.
This book is an invaluable resource for decision-making with incomplete information, which is particularly relevant when you acknowledge the fact that the crypto market is highly volatile and unpredictable. So Duke’s strategies for probabilistic thinking are very applicable, and really help when it comes to managing risks and anticipating potential outcomes; which is fundamental for constructing resilient investment strategies. By embracing uncertainty and acknowledging the limits of our knowledge, Duke provides a framework for making more informed and effective decisions.
Duke’s emphasis on recognising the role of luck and avoiding emotional biases can also help aspiring investors to not take things too personally, which can instill a very positive and healthy outlook on one's crypto investing journey. What's more, the book’s practical advice on how to frame each investment decision as a bet with certain odds offers a structured way to evaluate both potential gains and losses.
Conclusion
And there you have it — 5 great books to provide you with everything you need in order to dive into the world of crypto investing, fully equipped!
What can be taken from these books is that crypto investing requires a mix of knowing how tokenomics work, a holistic understanding of the main crypto assets and tools (and how to utilise them), and solid decision-making skills during times of uncertainty. So whether you're a new or experienced investor, the insights from these books will no doubt help you to become wiser.
However, as useful as these reads may be, be aware that crypto investing will always possess a certain degree of risk. So don't be under any illusion that these books will lead to guaranteed success. They are there to provide practical tools and wisdom that can help you to become better investors, nothing more.
We hope you enjoy these reads!
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