Ali Rasoul advises entrepreneurs to invest in digital assets in 2021
Ali Rasoul is a bona fide success story. At 22, he’s found tremendous success as a creative entrepreneur, investor and founder of an independent creative agency. His agency works in the music, film, fashion and corporate industries, and he has collaborated with some of the most celebrated names in these industries, including Jordan Peele, Spike Lee, and Wizkid. Rasoul is currently a postgraduate student at the National Film and Television School (NFTS), where he’s studying for a master’s degree in Creative Business for Entrepreneurs and Executives until 2023.
Film Daily had the good fortune of talking with Ali Rasoul about his experience in the digital assets market and why aspiring entrepreneurs should consider investing in the cryptocurrency markets to safeguard their income.
Investing with small or large amounts of money
Paralegal and Investor Kadijat Salahou says “Why watch your savings stay the same when you can watch your savings multiply. Creatives should always be open to multiple streams of income as sometimes the “rainy day savings” does not suffice.”
One of the greatest benefits of investing in digital assets is that there’s no required amount you must finance to get started. The minimum amount is usually the one set by the platform on which you’ll buy your first piece of coins. For example, Coinbase enables its users to buy cryptocurrencies from £2. Essentially, it’s designed to give investors more flexibility to experiment with smaller amounts, then advance to larger investments. I began my first investment in XRP, around £2,500 and witnessed it increase in under a week to £5,500. The same theory applies to a £20 or £100 investment, the profits will always appear over time.
In an interview with the Founder and CEO of La Marché Fashion , Jefferson Ocran says “Whether you’ve prepared small or large investments, only invest what you’re comfortably willing to lose. Before investing I made allocations on how much money I was willing to invest and gathered 10 to 20% of my monthly income aside, 3 months before investing it.”
Identifying when to start investing
It’s particularly important to recognize that when it comes to starting your investments in the world of crypto, now is always the best time. You’ll quickly realize and tell yourself, “I wish I started earlier.”
When I first started investing in the crypto market, I began studying fascinating historical figures including price points in previous months and years. Then continued to compare the increase of some coins over time and utterly regretted not to have invested in them sooner. A prime example would be Bitcoin: If one had bought £2,000 worth of BTC in August 2013, costing £69 per ₿ coin, it would give them a total of ₿28.98 BTC. Assuming they would sell their coins today, where a single Bitcoin costs around £45,000, they would make a total price of £1,304,347.
Safest market exchanges and platforms to use
It’s critical to understand one thing about investing in crypto, it’s not as simple as “continue as a guest” purchase type-service. The cryptocurrency market is a very private and protected type of trading system. Meaning, it behaves like a bank when it comes to opening an account. Therefore, it’s vital to choose the most trustworthy market exchanges. Here I’ve listed some of the exchanges I use, noted to be highly secure and supportive. Ranging from beginner-friendly to Professional trading.
- Coinbase (Beginner)
- Kraken (Intermediate)
- Bittrex (Semi-Pro)
- Binance (Professional)
To track and read reports on coins, I suggest using the trusty and very relevant CoinMarketCap website.
The types of coins available to invest in
Approximately, 8,599 cryptocurrencies are being traded with a total market capitalization of £1,043,144,687,661 (as of February 25, 2021). So, when it comes to the selection of which coins to invest in… the real investment is, taking the time to learn about a few coins.
Listed below are the current top 10 coins to invest in as of February 25, 2021:
- Binance Coin
- Stellar XLM
Protecting yourself and avoiding losses
“The surge in prices within the crypto market means that virtual currencies often become a target for hackers that want to take advantage of these valuable assets. When a cryptocurrency account is hacked, investors do not have any recourse legally since the virtual coins are still unregulated by a government entity or central bank.” Says Ellen Chang, Contributor at the U.S. News. and also suggests a few points on ways to keep your cryptocurrency safe:
- Take a hybrid approach to digital wallet security.
- Two strong passwords are key.
- Work with reputable cryptocurrency wallets, exchanges, brokerages and mobile apps.
- Protect yourself from mobile phishing.
- Be aware of how your wallet is used in transactions.
- Understand the different methods and processes to protect your digital currency.
- Avoid sharing the secret key.
- Skip using wallets hosted by providers.
- Cold wallets have their drawbacks for active traders.
- Hot wallets are more convenient for traders, but losses could be greater.
I recently caught up with MMA fighter and Investor, Hassan Al Amide, to hear some of his thoughts when it comes to trading and investing safely. Hassan Al Amide says “The fundamental element of loss prevention is patience and believing in the process. Impulsive decisiveness can cause anxiety and a negative outlook on trading, and potentially the beginning of a bad dominos effect type-decisions. Invest patiently and don’t let greed and fear dictate your next move.”
Learning from reliable sources on the internet about digital assets
In 2019, I remember going for a walk, at The University of Portsmouth with a good friend and founder of Bitcoin Simplified, Naseeff Ramzi, talking about all things Bitcoin. Moreover, he informed me about his crypto portfolio and how it progressed over time, and it was at that point I was inspired. I spoke with Naseeff Ramzi recently and requested his thoughts around advising new and emerging creatives entering the world of crypto, here’s what he says:
“I have always been a firm believer that the acquisition of knowledge stems from the desire to learn. Through my own experience, I can affirm that the most effective way to become proficient in a given concept is by undertaking extensive market research. The overarching emphasis of success and prosperity within this realm is to build a foundational understanding of a topic through the scrutinization of reliable and valid information. That being said, this is a task that poses many challenges within these data-centric times. A lot of creators publish unreferenced content, this leads to a saturation of information and can be overwhelming. For a beginner, it can result in blurred judgement when attempting to differentiate between factual or biased information. Upon acquiring a plethora of knowledge and industry insights through my research, my focus shifted from a desire to learn, to educating and sharing. I designed Bitcoin Simplified with the vision of bestowing valid and reliable information and content to those who are in the same position that I once found myself in.”
Connect with Ali Rasoul on Instagram at @ali.rasoul or via the creative agency www.alirasoul.co.uk