How to Become a Crypto Degen: A Step-by-Step Guide

How to Become a Crypto Degen: A Step-by-Step Guide

If the thrill of high-risk investments, meme coins, and YOLO trades excites you, then you're ready to dive into the world of crypto degenerates (aka crypto degens). This lifestyle isn’t about playing it safe; it’s about embracing the chaos, the memes, and the adrenaline that comes with it. But how does one truly become a crypto degen? Here's your ultimate guide.

📌 Step 1: Understand What Being a Crypto Degen Means

Being a crypto degen is not just about investing in cryptocurrency; it's about adopting a mindset. Crypto degens thrive on high-risk, high-reward opportunities. They live for the excitement of betting on obscure meme coins, participating in speculative trades, and staying up-to-date with the latest trends in the crypto space.

Key attributes of a crypto degen:

  • Risk Tolerance: Willingness to YOLO investments, often without exhaustive research.
  • Community Spirit: Joining like-minded individuals on Discord, Twitter, or Reddit to share tips, memes, and insights.
  • Meme Culture Enthusiasm: Understanding the humor and symbolism behind meme coins and the culture surrounding them.

📌 Step 2: Get Educated (But Not Too Educated)

Crypto degens are informed risk-takers. While they may not dive deep into technical analysis or market charts, they know the basics of:

  • Blockchain technology
  • How to buy and trade cryptocurrencies
  • Identifying rug pulls (to avoid them)
Resources for beginners:

Take the Shortcut with The Degen Starter Pack

Want to jumpstart your journey? Check out The Degen Starter Pack — your ultimate guide to thriving in the world of meme coin trading. This comprehensive eBook is packed with actionable insights, strategies, and tools designed specifically for degens.

What You’ll Learn:

  • The evolution of meme coins and how to spot the next $PEPE or $SHIB.
  • Advanced trading strategies like scalping and swing trading tailored for meme coins.
  • Risk management techniques to YOLO responsibly.
  • Tools of the trade, including top DEXs, charting platforms, and sentiment trackers.
  • Real-world case studies from legendary coins like SHIBA INU.

 

Why It’s Perfect for Aspiring Degens:

  • Written by degens, for degens, with no fluff—just proven strategies.
  • Covers everything from beginner basics to advanced trading techniques.
  • Includes bonus content like case studies and risk management tips.

📌 Step 3: Choose Your Weapons (Platforms and Tools)

To become a crypto degen, you'll need the right tools:

Wallets:

MetaMask, Phantom (for Solana), or Trust Wallet to store and trade your assets.

Exchanges:

Centralized (e.g., Binance, Kraken) and decentralized platforms (e.g., Uniswap, PancakeSwap).

Portfolio Trackers:

Apps like Zerion or Delta to track your investments.

Community Hubs:

Discord channels like Degen Boys Club or Twitter accounts for signals and memes.

📌 Step 4: Start with Meme Coins

Meme coins are the bread and butter of the degen lifestyle. These are cryptocurrencies driven more by community hype and memes than utility.

Start small and test the waters by investing in coins like:

  • DOGE: The original meme coin.
  • SHIBA: A community-driven token with massive hype.
  • New Launches: Look for trending tokens on platforms like CoinGecko or Dextools.

Pro Tip: Be prepared for volatility—these coins can moon overnight or crash to zero.

📌 Step 5: YOLO Responsibly

The essence of being a crypto degen is YOLO-ing (You Only Live Once) trades.

This involves:

Speculating on obscure tokens: Invest in projects with funny names, absurd use cases, or no apparent utility—just vibes.

Timing the market: Buying the dip or getting in early before the pump.

Accepting losses: Part of the fun is the unpredictability; laugh at your losses and move on.

📌 Step 6: Engage with the Community

Crypto degens thrive on community interactions. Join social media platforms, forums, and meme groups to stay updated and connect with fellow degens.

Notable platforms include:

Discord: Hangouts like Degen Boys Club are perfect for sharing memes and investment stories.

Twitter: Follow accounts that post meme coin trends and market signals.

Reddit: Subreddits like r/cryptocurrency for general discussions or r/SatoshiStreetBets for degens.

📌 Step 7: Embrace the Culture

Meme culture is central to the degen lifestyle. From creating jokes about market crashes to celebrating the next pump, memes keep the spirit alive.

Examples:

Joke: "Bought the dip? Wait, it dipped again."

Meme: A portfolio roller coaster ride with the caption, "Just another day as a degen."

 

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