So, you’re about to enter Cryptoland, or maybe you are already in, I’m in for about a year now, Been through the big dips and through the All time highs again and again.
I consider myself relatively “mature” with some extra “experience” in relation to the newcomers, so I decided to share with you my opinion and give you some tips that might help you survive hoping for the best for all the community.
Here we go:
Ask yourself, Why the hell am I here?
“For the money” you would answer, or “ to become a millionaire” well, my friend , sorry to disappoint you, it’s not that easy.
There’s no doubt that I would be lying if I told you that I’m not in here for the money, well at the start I was only for that, until I understood the technology behind crypto currencies and it’s huge potential.
I discovered and understood that decentralized Crypto currencies and the blockchain technology has the potential to help free humanity from enslavement of banks and governments which I believe will eventually lead humanity to a better, and more just world. And that is more important than the potential gains that you will get.
So, do your research on blockchain, read books, watch videos and educate yourself.
Only risk what you can afford to lose
Do not sell your house or get a big loan that you won’t be able to pay back if your investment goes down the drain. Keep in mind that you might wake up one day and everything has gone to zero. ( I surely hope not).
Choose wisely where you invest your money
In your first steps, invest in the big and “established” coins Ethereum, Litecoin, Dash ( you already know Bitcoin) educate yourself, understand the difference between each coin and it’s purpose. Then after a month or two, when you feel ready, invest in other new projects.
Build wisely a “solid” and diversified portfolio. Research each project, choose the ones with solid teams and real life purpose. Be careful , don’t be greedy cause there are lot of “shit coins” and scams.
HODL ( or hold your portfolio)
Do not be afraid of the dips, all healthy markets have their ups and downs, if you think that up is the only way then sorry, you are stupid. Get your money out before you lose everything. BUY THE DIPS , see them as “discounts” and a chance to top up your portfolio.
So HODL and remember that you lose only when you sell.
Be careful of FUD and FOMO.
Fear, uncertainty, Doubt and Fear Of Missing Out is your enemy. Do not believe the mainstream media, it is build only to enslave you. On the other hand don’t let FOMO control you cause eventually your portfolio will be filled with “shitcoins”.
Don’t let FUD get you, if you are going through a bloodbath, just forget about it and go for a beer or something.
Stay away from ICO’s
If you spot a good project, wait until the ICO finishes and the tokens hit the exchanges, and buy after a week or so, you will eventually buy it cheap (if you check out the charts, the price of nearly all coins drop in the first one or two weeks after the end of an ICO) and with this you minimize the risk of being scammed.
Lastly I would like to point out that we, as a crypto community must help and support each other in every way and we must keep in mind that we are in the beginning of a revolution that must successfully end with mass adoption.
Hope that you liked me sharing my thoughts with you. Take care and HODL.
