Today on Hustle and Flowchart, I had the pleasure of speaking with Corey Geary. Corey transitioned from real estate to the world of cryptocurrency, driven by his desire for passive income and a more satisfying career. He shared his journey, the strategies he employs, and tips for anyone considering investing in crypto. In our discussion, we covered Corey's successful yet challenging career in real estate, his methodical approach to investing in crypto, essential security measures, and the importance of understanding market cycles. His advice is valuable for both seasoned investors and those new to crypto. Corey's Transition from Real Estate to Crypto Corey Geary shared that he moved from a successful yet stressful real estate job to crypto due to the potential for passive income. Despite skepticism from his real estate peers, Corey found significant success in crypto and began coaching others about decentralized finance (DeFi). He and his partner Dane focused on both real estate and crypto communities, advocating for moderate investments tailored to individual financial comfort. Corey emphasized not going "all-in" on crypto and keeping some presence in real estate. Main Takeaways: Real estate provided Corey with financial success but also immense work pressure and legal issues.The passive income potential of crypto attracted Corey, leading him to transition.Corey and Dane coach real estate professionals on crypto investments. Strategies for Crypto Investment Corey explained the importance of responsible investing. He encourages putting money only into assets that excite investors and do not threaten their financial stability. This approach helps avoid fear-based decisions, especially in a highly volatile market like crypto. Corey stresses the need to understand the technology and market before making significant investments. Key Points: Responsible investing protects financial stability.Understand crypto before investing to avoid fear-based decisions.Due diligence in selecting assets is crucial for significant growth potential. Importance of Security in Crypto Highlighting the critical need for robust security measures, Corey shared tips on using dedicated crypto laptops and hardware wallets to fend off scammers. Corey emphasized that transactions on the blockchain are irreversible, making security paramount. Joe Fier shared his personal experience of losing money due to insufficient security awareness, reinforcing the importance of understanding security protocols. Security Measures: Use dedicated crypto equipment to prevent hacking.Employ hardware wallets to securely store cryptocurrencies.Conduct thorough research and due diligence to avoid scams. Understanding Crypto Market Cycles Corey stressed the cyclical nature of the crypto market. He noted predictable patterns, such as market peaks around mid-year and bottoms one year later. Understanding these cycles helps investors position themselves for capital gains. Corey emphasized becoming a "student of the cycle" to navigate the market successfully and avoid emotional investing based on media hype. Insights: Crypto markets follow predictable cycles.Skilled technical analysis can foresee market movements.Avoid emotional investing driven by hype; buy during lows and sell during highs. Passive Income and Decentralized Finance (DeFi) Corey discussed the role of DeFi in achieving financial self-sovereignty, allowing individuals to manage their own cryptocurrency investments without relying on centralized entities like banks or exchanges. He explained liquidity pools on decentralized exchanges and how users can earn fees by providing liquidity. Corey highlighted how smart contracts automate transactions, ensuring security and transparency. Main Concepts: DeFi enables financial independence.Liquidity pools on decentralized exchanges offer fee-earning opportunities.Smart contracts automate and secure transactions. Final Takeaways from Corey Our conversation with Corey Geary underscored the importance of responsible investing, thorough research, and robust security measures in the world of cryptocurrency. Corey’s journey from real estate to crypto shows the potential for significant financial success while highlighting the critical need for caution in a volatile market. Top Highlights: Transition to crypto for passive income potential.Responsible investing and understanding market cycles.Emphasis on strong security measures.Opportunities in DeFi for financial self-sovereignty. For further exploration of these investment strategies and tips, you can connect with Corey Geary on Instagram, Facebookor visit deficashflowsystems.com. Two Other Episodes You Should Check Out Joel Comm – Understanding NFTs and Cryptocurrencies Nic Peterson – The Base Case & Chill Method For Passive Crypto Income Resources From Episode What if you could have a FREE personal mentor on-demand?! With Joe's Hustle & Flowchart AI clone, you can tap into the knowledge from over 600 ...
