20 Plus Minutes on Solana Cryptocurrency (Buy/Hold Assets)

Send us Fan MailSeason 2   Episode #29 of Not Me, But You! Podcast. 20 plus minutes on Solan cryptocurrency. As always, we need to buy/hold assets. This is what rich, wealthy people do. By buying/holding assets, we actually benefit from inflation. If you're looking for growth AND can tolerate risk/volatility, then Bitcoin is the best performing asset on the planet. Solana may be a close 2nd in terms of it's potential for future growth. And due it's current price (cost). I believe buying Solana even now, in 2025, it is an UNDERvalued asset. Meme coins such as Bonk and Pepe will also likely do well in 2025. There is potential there, to make money (profit) from these coins. Bonk is a meme coin that is BUILT on the Solana network. Think of wherever you buy the crypto as "the exchange." Where you buy crypto is like an on/off ramp to a highway. I don't usually leave my purchased coins on "the exchange." On a schedule (weekly or monthly) I move the coins to either a digital software wallet (like Coinbase Wallet etc. Also known as a "hot wallet."). Or I move the coins to a "cold storage device" such as Tangem (credit card like wallet) or Ledger thumb drive device (also known as a "cold storage device.") In general, cold storage devices (wallets) are considered a safer place to store coins than in a hot wallet (software wallet). The Phantom wallet can be used to swap for other coins INSIDE of the Phantom wallet. Swapping, inside of a Phantom wallet is an easy and inexpensive way to purchase other coins, easily and quickly. Current price of Solana? The price is hovering around $200 per coin. It was as inexpensive as $9 or $10 per coin just a few years ago. Remember that when we talk about "investing" in crypto coins, we are often assuming a 4 year time frame. Why? Because Bitcoin usually moves in a 4 year price cycle. See some of my other podcast episodes where I explain in detail the 4 year Bitcoin cycle. Many people are predicting that Solana could go as high as $1,000 per coin by December 2025. Will that happen? I have no idea. But what if it doesn't? What if it goes as high as $500 per coin? If you were dollar cost average buying small amounts of it, over time, you would likely more than double your money, if you started buying today (at a cost of $200/coin). In November of 2022 Solana was around $14. By December 31, 2022 Solana was under $10/coin. January 2023 to October 2023 the price of Solana stayed flat at around $24/coin. By December 25, 2023 the price of Solana had risen to $112/coin! If you had invested $1,000 since 2022, one time, you could have turned that $1,000 into $25,00 in about 2 years! That's a phenomenal investment. That's a phenomenal ROI (return on investment). And to have an opportunity to turn $1K into $25K in less than 3 years, that's astounding in the world of investment. Again none of these types of results are guaranteed. Investing in crypto currently is very risky! But it's a calculated risk. It's not the same as straight up gambling. Have courage today, to pick one thing, and work on your dreams. I'm not a financial advisor. This podcast is for education/entertainment purposes only. You will need to do your own research and accept responsibility for the results of any money you choose to invest. I love using Schwab.com to buy/sell stocks/ETF's/closed end funds/options. Schwab has a very user friendly app/website and their customer service is excellent. I can easily get to speak to a human being whenever I have questions.