Finance is a diverse subject that can take a lifetime to master all aspects of analysis or each unique market or sector. Cryptocurrencies are much different than traditional assets, for example. In addition, the likes of stocks are completely different from currencies or commodities.
It can make learning about these subjects seem daunting, especially because financial literacy isn’t taught in schools. So unless you’ve chosen a career in finance, anything you learn must be completely self taught.
Fortunately, to serve the void left behind by a lack of economics courses, dozens of powerful self-help books on finance and crypto exist today. Some of which have been in publications for decades, but have been updated to include newer topics. Next to these classics there are also new must-reads and bestsellers that are equally worthy of attention.
We’re listing the five best books that will give you the best range across traditional finance, technical analysis, cryptocurrency, and help make you a well rounded investor and trader.
Before we dig deeper into the subject of cryptocurrencies, starting with a basic knowledge of finance is a must. One of the most well known bestsellers over the last 20 years has been the book Rich Dad, Poor Dad, by Robert Kiyosaki.
The author has given public seminars on similar matters related to wealth, and coaches people on financial literacy. Kiyosaki challenges that even a home – what most consider to be their greatest asset and investment – is actually a liability due to the expenses related to it.
Instead, the Rich Dad, Poor Dad author encourages slowly building assets that generate passive income and to get into investing. Outside of the book Kiyosaki is a very vocal gold and Bitcoin supporter. He recommends buying both assets over stocks, and even real estate.
The Bitcoin Standard is among the most respected basic introductions to Bitcoin, the cryptocurrency, the network, and the financial revolution. It is presented as the soundest form of money possible and explains why without all the fluff.
It explains why Bitcoin builds on what gold is all about, but does it via a decentralized technology. It beats gold at its own game. Ammous also dives into various concepts related to the cryptocurrency’s uses, and explains the asset’s origins.
Antonopoulos is best associated with his public speaking work related to Bitcoin, but his guide in collaboration with Gavin Wood, an early Ethereum developer and co-founder, is also the best for the top ranked altcoin by market cap.
As Ethereum gains respect in the finance industry and becomes of greater impact and interest to the financial landscape, the value of this window into the subject provides will only increase.
Antonopoulos talks about all the various features of the blockchain supercomputer, such as smart contracts, ERC-20 tokens, and much more. There are also areas devoted to the proof-of-stake consensus mechanism that Ethereum relies on.
Although candlesticks have only recently become more popular in online trading systems, they can tell a trader or investor a wealth of information about a market, a trading session, and what to expect in future trading sessions. For example, each candle contains information on each trading session open, high, low and close.
This book is considered the authority on the subject, with information on what each type of candlestick means, what it forecasts, and under what conditions it forms. There is also an abundance of information on candlestick patterns, such as reversals and what certain continuation signals can mean.
Just like Steve Nisson knows Japanese Candlesticks like no other, Thomas Bulkowski knows chart patterns. He has researched thousands of the same chart patterns and taken catalog of the statistics related to the performance of each.
These metrics include the conditions under which a pattern is valid, common features of the pattern such as declining volume, and targets based on the measure rule. Using these figures traders can determine the probabilities of success around each pattern and can come up with a risk to reward ratio before taking a position.
The details surrounding each pattern are near endless and the book provides pictures of each pattern using real life charts from Bulkowski’s lifelong research. Using this book along with the chart pattern identification skills you can get from it can be a major help with technical analysis.
The education doesn’t have to stop there. There are also various blogs, courses, and other educational materials available. There is far more available in the realm of finance currently than there is around crypto, and you need to be careful about the information you receive related to Bitcoin and other crypto assets as there is a lot of misinformation and scams.
Be certain to stick to trusted resources with properly cited materials or reference published financial books like the ones here. Look for reputable authors that have credentials similar to the authors behind the books on this list.
Learning on social media by following other traders, or by joining Telegram groups can also be a source of education. However, one must be careful not to fall victim to scams and not pay for any education or signals when it is safer to learn skills and learn to trade on your own.
For more reading materials like what is listed here, be sure to check out the official blog of one of the best Bitcoin trading platforms around. PrimeXBT’s blog has additional lists on all kinds of topics, notably additional lists of the best books for trading, crypto, and other specific topics.
Beyond book recommendations, PrimeXBT’s blog is a wealth of guides, trading tips, helpful information, company updates, and much more. The blog and its Help Center is among the many reasons why PrimeXBT was honored with several industry awards.