I will start with the good news: it’s still early in the Crypto game. Very early. You have not missed the boat. You can buy Crypto today and you’ll be way ahead of the exponential S curve we are entering. Everything up till now has been a test. The launchpad is ready and we are now loading rockets to the moon.
The bad news: you don’t own a time machine so you can’t got back in time and buy Bitcoin at $700 as I blogged about or flip that Bitcoin to Bitcoin Cash at 10:1 from August 2017 to November 2017 before BCH exploded above $1,000. C’est la vie, bitches.
It’s time to take a page out of the good book of Kanye. Think for yourself. Here’s some places to start.
Stop trying to change your life trading stocks. If it was going to happen it would have happened by now. You can continue to play the “seeking alpha” game grinding yourself into insanity looking to beat an index fund by 3% and risking getting 2 years of returns wiped out in a single swing of your FANG portfolio, along with every other FANG chump, due to Zuckerberg admitting he has sex with chickens or you can step into something new and reap the benefits of being an early adopter of the biggest thing since the Internet. It’s really your call how you live your life.
Make no mistake. Stocks may have been good to you but they can’t hold a candle to what’s coming in Crypto.
So I’m inviting you to make the leap. There is risk. I won’t paint a utopian scene in Crypto because it doesn’t exist. People get REKT. But you can greatly increase your chance of riding out the volatility and establishing a base on the freaking ground floor before the entire cryptoverse launches with extreme levels of vigor and massive green dildos.
It’s amazingly simple to get started. Use some common sense:
- Don’t chase shitcoins. Too good to be true is a law of the universe. If you play that game play to win. In and out with profit. Don’t let a trade become an investment. The flameouts in Crypto are too numerous to mention.
- This is a game of survival of the fittest. If you are not clear on why your coin will survive the law of the jungle then you shouldn’t be holding it.
- Pick your winners then hold them. The crypto tree gets shook hard. Really hard. If you can buy that panic, great, but you probably won’t. Just don’t bail your core positions because of FUD. Have some conviction in your trades.
- Consolidation is coming. Buy the cream of the crop. The insanely profitable alt coins seasons are fool’s gold. There is a lot of money to be made, but it’s the outlier scenario. Unless scalping momentum is your trading style, don’t fall for it. You’ll do better sitting tight on good coins.
- If you are an alt coiner, buy the absolute bottom of everything. Spread your bags far and wide. Then wait. It may take six months and some of your bags may go to zero, but history has rewarded this strategy very well. I don’t personally care for it, but it’s an option.
- Trust no one. Consider the crowd to always be wrong. Stay open minded.
- Have a plan. If you stick it out till massive profits accumulate I promise you’ll be visited by GREED. Have a sell plan and stick to it. You will be tempted to ignore it. ASK ME HOW I KNOW.
Those are random bullet points off the cuff. But you get the idea. The key point is to get started. To ignore the FUD and burrow in knowing and accepting there will HUGE swings in volatility. You are not buying an index or a blue chip. You are buying instruments designed to alter the future world of finance and their volatility are going to be extreme, as will the rewards of getting in now ahead of the majority.
Don’t ask me about your random shitcoin. I don’t care. I’ve been very clear about where I have put my investments and will update if anything changes. No, I don’t recommend BTC.
Near term, I think EOS and BCH are the most promising coins. I expect them to be the new ETH and BTC and to possibly destroy all Alts in cannibalistic fashion.
Also, don’t do what I do, which is to be irresponsibly allocated into Crypto. I have years of experience juggling this dynamite. Just 10% of your portfolio in Crypto can make a huge difference. Increase as you see fit.If you enjoy the content at iBankCoin, please follow us on Twitter