Writer, entrepreneur, and influencer Nathaniel "Nat" Eliason recently shared his crypto journey with ABC News, drawing from his new book, Crypto Confidential: Winning and Losing Millions in the New Frontier of Finance. His story underscores both the potential and pitfalls of cryptocurrency investing—a space he entered out of financial necessity but grew to understand through volatile highs and lows.
The Roller-Coaster Ride of Crypto Investing
Eliason’s foray into cryptocurrency began in 2021, driven by urgent financial needs. Like many newcomers, he initially chased quick gains, trading Dogecoin after seeing social media hype. Within a year, his portfolio ballooned to over $10 million—only to lose most of it just as rapidly.
Key Takeaways from His Experience:
- Volatility is inevitable: Crypto markets can skyrocket and crash unpredictably.
- Paper gains ≠ real wealth: Eliason emphasizes cashing out profits early.
- Skill trumps luck: Long-term success requires deep technical and market understanding.
👉 Learn how to navigate crypto volatility wisely
The Myth of Get-Rich-Quick Schemes
Eliason’s book dismantles the allure of overnight wealth:
"Getting rich is a long, slow, steady process. […] The game is rigged against you behind the scenes."
He now advocates for:
- Mastering a skill over chasing hype.
- Patient investing (e.g., Bitcoin ETFs) instead of gambling on memecoins.
- Understanding technology—like stablecoins—as foundational to crypto’s future.
Should Average Investors Engage with Crypto?
Eliason believes crypto will integrate into mainstream finance but warns against speculative trading. His advice:
- Start with Bitcoin and Ethereum: These remain the most stable and widely adopted.
- Use regulated products: Bitcoin ETFs simplify exposure without direct asset management.
- Explore real-world applications: Focus on innovations like decentralized payment systems.
👉 Discover beginner-friendly crypto investment tools
FAQ: Addressing Common Crypto Concerns
Q: Is crypto a safe investment for beginners?
A: Not inherently. Stick to established assets (Bitcoin/Ethereum) and avoid high-risk trades.
Q: How can I invest without day trading?
A: Bitcoin ETFs (available through brokerages like Vanguard) offer passive exposure.
Q: Will crypto replace traditional finance?
A: Unlikely—but it will augment systems (e.g., faster payments via stablecoins).
Q: What’s the biggest mistake new investors make?
A: FOMO (Fear of Missing Out). Eliason lost millions by not securing profits early.
Final Thoughts
Crypto’s longevity is undeniable, but Eliason’s story highlights the dangers of its "wild west" phase. For sustainable gains:
- Educate yourself (his book is a start).
- Prioritize technology over hype.
- Embrace slow, strategic growth.
By demystifying crypto’s risks and rewards, Eliason offers a roadmap for navigating this evolving landscape—one that balances optimism with caution.