After watching the success of Great Britain in other events, the 23-year-old is ready to do the same in the rough-and-tumble world of BMX.
'I have got nothing to lose,' she said. 'I have kept my eye on everything that has been going on. Jess Ennis went in with the pressure on her to win.
'When you can overcome all the obstacles that are put in your way, that is inspiring. Everyone keeps coming out with something exceptional and I have just bought into it all.'
Reade is a three-time world champion in the Olympic discipline, which sees eight riders hurtle down a steep start ramp, vie for space on the track and negotiate jumps and turns in a bid to finish first, all in around 30 seconds.
Tomorrow's opening action will see a time-trial to determine seedings ahead of the knockout rounds.
Reade had won two world titles before entering her first Olympics in Beijing in 2008, aged 19, and attempted a gold-medal-or-bust manoeuvre, which went wrong as France's Anne-Caroline Chausson won.
Reade said: 'When I got back I assessed what went wrong, why it went wrong and what I needed to do to be a better athlete.'
For the last four years Reade has been asked time and again about Beijing, with many admiring her for going for gold rather than playing it safe.
She added: 'It comes with your personality. I train to be the best I can be. If the opportunity presents itself to go for gold, if I am in second or whatever position, I will go for that.'
A Frenchwoman stands in Reade's way again, with Magalie Pottier world champion after her victory in Birmingham in May, while time-trial world champion Caroline Buchanan of Australia should also be in contention.
The women are in action over two days, with a rest day on Thursday, when the men have an additional round, the quarter-finals.