Don't Over-Leverage Yourself

In the past few weeks many of us have become increasingly wealthier, with some of us earning a small fortune in crypto alone. I'm not only talking about steem which has gone parabolic, but ethereum Bitcoin dash ect. As much as I want these movements to last forever, I am just here to remind everyone not to over-leverage themselves and to only invest what they can afford to.

I have been in Bitcoin since 2012 and seen my fair share of booms and busts in that time. I was there during the jubilant highs and the soul crushing lows. I saw people who took out another mortgage on there homes at then highs only to lose 2/3rds value half a year later. Had they held they would have made profit but hindsight is 20/20.

I believe in crypto and I believe in the future of its place in our world, but I never recommend anyone invest in it. I don't want to see the types of posts I saw after the bubble broke in 2013. People who lost their entire savings at the time or people unable to pay their rents. It is repetitive but still not redundant at this point to say invest only what you can afford to lose.

We all know everything can change in an instant if something goes wrong. The key is to hold on long term if you believe in the future and if you overlleverage yourself to a point where you can't survive, you won't be able to hold.

I also suggest that when talking people who are new and interested in investing, you let them know the same. Crypto is not a safe investment, it is still as risky as it was four years ago, in fact possibly more risky. The amount of malware or people attempting to steal your money. Make no mistake this is still the Wild West.

I make this post in hopes it will make even one person think about approaching finance and crypto finance safely rather than betting the house on everything. I wish you the best of luck and hope to stay a long term crypto advocate and holder with all of you.