Four Web3 / Crypto Books to Read for Any Market

Cryptocurrency is still an emerging and volatile market, with few “must-reads” or historical accounts available. However, this is changing rapidly, as is everything in the space. I firmly believe in the notion that luck results from preparation meeting opportunity, and that continuous self-improvement and learning are crucial. In an industry that evolves so quickly and unpredictably, it’s essential to control what you can — your mindset around it all, which also applies to investing as a whole.

In this note, I will recommend four insightful books on web3 and cryptocurrency — two focused on investment psychology and two dedicated to the history and landscape of the industry. These resources will help you navigate the ever-changing world of digital assets, regardless of market conditions.

(Investment) psychology

The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel

The Psychology of Money is an outstanding read for anyone interested in investing and personal finance. The book emphasizes that success in managing one’s finances is largely about patience and emotional control, rather than simply being fortunate with the right investment choices. This perspective makes the subject more relatable and applicable to both crypto and other investment decisions.

The book delves into risk management, cultivating a healthy mindset, and understanding common behavioral biases, offering a well-rounded and straightforward approach to personal finance. Packed with actionable takeaways, I have personally integrated its insights into my financial values and strategies.

As the saying goes, you should find a ride home (have an exit strategy) before you get drunk at the party (a bull market). Making these plans on-the-fly is ineffective. The current bear market, among other things, presents an excellent opportunity for reflection and planning.

The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb

The Black Swan, by Nassim Nicholas Taleb, is a groundbreaking book that delves into the philosophy of uncertainty. Although the writing style may be complex at first, this book has profoundly influenced my understanding of probability and the prediction of events. The central concept is the “black swan” event — an unpredictable yet extreme occurrence, either positive or negative. This idea is highly relevant to investing, crypto, and any risky venture.

Despite the abstract nature of the subject, the book offers actionable lessons and insights. For example, it encourages readers to maximize positive black swan events (investments with high potential returns) while minimizing negative black swan events (such as not wearing a seatbelt and getting injured in an accident or being financially ruined by leverage or margin).

I highly recommend The Black Swan for its broader life lessons as well. The other books in Taleb’s Incerto series are also excellent, with each building upon the previous one.

History and landscape

The Infinite Machine: How an Army of Crypto-hackers Is Building the Next Internet with Ethereum by Camila Russo

The Infinite Machine is an exceptional introduction to the world of cryptocurrency and blockchain. Although it was published around two years ago — which feels like an eternity in this fast-paced industry — the historical content remains relevant and provides valuable insights into the history of Ethereum specifically.

The book takes readers on a journey through Ethereum’s early days, capturing the excitement and challenges faced by its founders and developers. Stories of startups in their formative stages can become legendary, and Ethereum is no exception. This captivating account highlights the creative minds, innovative ideas, and groundbreaking technology that have shaped Ethereum into the powerhouse it is today.

Additionally, The Infinite Machine offers broader context, exploring the evolution of blockchain technology and its potential to revolutionize various industries.

The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze by Laura Shin

The Cryptopians offers a fresh perspective on a similar timeline as The Infinite Machine, delving into the early history of cryptocurrencies and the events that have shaped the industry. As the subject is so integral to the evolution of crypto, it’s unsurprising that multiple books cover this fascinating period.

This book, published more recently, provides updated information and additional insights that may be valuable to readers. The Cryptopians explores multiple angles, including conflict and greed, that have influenced the development of cryptocurrencies — ultimately shedding more light on the human element behind this technological revolution.

By examining the stories of the pioneers, visionaries, and opportunists who have contributed to the rise of cryptocurrencies, the book offers a comprehensive understanding of the motivations and challenges that have driven the industry’s growth.

I hope these recommendations are helpful to anyone who is seeking to read more books in, about, or relevant to the web3 / crypto space. If you have others, please share them in the comments!

Thank you as always for reading!

None of the above is financial advice, and is for educational purposes only. Always do your own research and make your own decisions.

I only recommend products I would use myself and all opinions expressed here are my own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission.