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4 Books That Will Help You Understand Bitcoin Investing
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And investing in other cryptocurrencies too.
MARTHA C. WHITEJanuary 25th, 2018
Martha C. White writes about consumer credit, debt and retail banking for TIME.com and previously contributed to AOL's WalletPop.com. She has written about business, finance and the economy for outlets including Slate, the New York Times, MSNBC.com and Fast Company. A native of New Jersey and graduate of Princeton University, White resides in upstate New York.
Researching how to invest in Bitcoin or cryptocurrency alternatives like Ethereum, Ripple, or Iota can be a daunting task. First off, blockchain — the algorithm-based digital ledger that makes anonymous, decentralized cryptocurrency possible — is a complex idea to wrap your head around. But there are also all the different cryptocurrencies to choose from, plus digital wallets and multiple confusing ways to buy and trade for a new investor to master.
Like any other market speculation, a Bitcoin investment strategy should be backed by fundamentals rather than hype — no easy task when you’re talking about an asset without intrinsic, tangible value. (And to be fair, there are many highly-respected economists and investing gurus (like Warren Buffett) who think Bitcoin is a crazy idea altogether.)
Still, if it’s Bitcoin investment advice you want, these four books will give you a better grasp on the current state of the cryptocurrency marketplace, how and why digital currencies were developed, and — most importantly — how to figure out when and how you can make money from them.
Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond
Courtesy of Amazon
The hardcover, audiobook and Kindle versions of this comprehensive how-to Bitcoin investment guide are all in Amazon’s top 10 list of digital currency titles, which tells you something about this book’s popularity.
Cryptoassets does a deep dive into portfolio strategies, including some more esoteric aspects of the crypto universe. For people wondering about Bitcoin stocks, futures, and the prospects of investing in Bitcoin mining, this book also provides an introduction to the broader cryptoasset marketplace, including cryptocommodities, cryptotokens, and even initial cryptoasset offerings.
Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money
Courtesy of Amazon
This isn’t as much a guide on how to invest in Bitcoin as it is a sort of history lesson-slash real life financial drama along the lines of The Big Short.
Over the past year, the price of Bitcoin has shot up from under $1,000 to more than $19,000, before settling back down (most recently) at about $11,000. This book dives into how we got here, telling the stories of early Bitcoin innovators and investors. While there might be no best way to invest in Bitcoin that suits everyone, Digital Gold provides a wealth of background information that will assist all kinds of crypto investors.
Ethereum: Blockchains, Digital Assets, Smart Contracts, Decentralized Autonomous Organizations
Courtesy of Amazon
While Bitcoin hogs most of the attention (and sky-high valuations), it’s not the only cryptocurrency out there that’s caught the attention of investors. Billed as “blockchain for the non-technical,” this book can be an asset if you’re seeking to learn more about Ethereum as a potential investment.
It also is a good introduction to the mechanics of blockchain in general. Authored by an IBM blockchain architect, the book aims to give you a better grasp of how the technology works so you can can better identify (and not invest in response to) cryptocurrency hype.
Mastering Bitcoin: Programming the Open Blockchain
Courtesy of Amazon
With this book, author and Bitcoin entrepreneur Andreas Antonopoulos aims to offer a reference guide and overview on the mechanics of Bitcoin and other cryptocurrency investing. It’s suitable for non-computer scientists but will detail all the nuts and bolts for would-be investors who really want to know what’s under the hood of these new digital assets. Fans of Antonopoulos might also want to check out The Internet of Money, a two-volume collection of his talks on Bitcoin and related topics.
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