This week’s Hodl My Coffee session was perhaps the best of its kind! We kickstarted the show with warm greetings of the 75th Republic day and talked about how Crypto resonated with the 3 ideals of a democracy – By the People, For the People and Of the People.
This episode was even more special because it was graced by one of the most prominent Crypto Influencers of the industry – Mr. Budhil Vyas, a Data Scientist turned Crypto Trader and then Influencer.
Budhil Shared a very interesting story on how he discovered Bitcoin, saw the potential of it and moved into it full-time.
Next, we had a very insightful discussion on how people might want to flock to futures trading in general to minimise their tax burdens. Budhil explained how there are not many platforms out there to provide these services. But, lucky for you! We are here to help you navigate through your futures trade with ease!
We also talked about how diversification is key to minimise the risk of losing money, how to appropriately leverage your trades in order to not have your capital wiped out and how to understand whether to long or short under a certain market condition.
Budhil highlighted the fact that users need to have clarity on their short term and long term goals in order to filter the right asset for their investments/trades. Speaking from his personal experience, he explained that he holds Bitcoin with an expectation of a long-term gain, and is more bullish on Altcoins for the upcoming bull runs to make good money.
P.S.:- Not a Financial Advice.
We discussed a little on the potential of meme coins and how it is important to look further than that. Up and coming are new and good projects with real utility but people are not willing to understand that one of the reasons behind it is low financial literacy rate in India. It’s a major hurdle in the adoption of this industry, because the majority of the people in India are not willing to open their heart, mind and soul to explore new stores of values for their wealth.
Satiating one of our user query, who asked if 12 years is ample time to be hodling altcoins for long-term? Reiterating his point from the top, Budhil mentioned that if you are willing to hodl till 2035, Bitcoin is your guy, and as for altcoins, don’t think beyond a single bull-run.
We concluded this session on a very healthy note of how to avoid over-trading and over-leveraging at any given point of time.
We can’t thank Budhil enough for joining this session with us and giving us so many amazing insights. Next week, we’ll see you with the budget talks, so stay tuned!