What to do while waiting for your CRYPTO investments to make you a millionaire

in #cryptocurrency6 years ago (edited)


So.

You have invested in crypto.

Congratulations! You have seen the writing on the wall and decided not to let this opportunity pass you by. Perhaps you have $10s, $100s, or $1000s of dollars invested along with hours of research watching YouTube videos, reading through whitepapers and checking out the vibe on Reddit. You have made your choices, created accounts on crypto exchanges (hopefully you did this in time) and bought in. Now what? Good question, dont be a dummy - read on.

The temptation to constantly check prices on Coinmarketcap.com and scour the internet for any tidbit of news that might effect the value of your investments is STRONG. Almost everyone new crypto investor experiences this in some form or another. Stop it. You stop it right now. Delete Coinstats and Blockfolio from your phone (gasp!). Delete your browser history. Forget about the money you invested. Forget about crypto.

Do that for a day, three days, a week,.. Do it until you regain control of your life and quit having dreams about the XRP, TRX, XRB, BTC and (insert hot mooning crypto) charts. There are more than a couple reasons to distance yourself from this mania. Breathe.

If you are smart you have come to the realization that INVESTING in crypto is wise and TRADING crypto is probably too risky for you (and most sane people). You have already done your due diligence and made great long term investment choices. Then you glance at your portfolio january 10th. (...quietly fear creeps in followed by uncertainty, finally doubt)

Relax. Crypto is weird. The long term hodlers, the sound minded, the quiet spirited, the balls-of-steel having patient investors will profit the most from this strange new market. DON'T MESS THIS UP. The fear of missing out is very real and will cost you a lot of money if you don't get ahead of it. You've heard of the dog with the bone in his mouth looking at his reflection in the lake? He dropped his bone in an effort to retrieve the second bone and ended up with zero bones. For the math impaired, zero bones is less than one bone. And in these amazing technological times one bone today could mean 100 bones in the near future. Hang on to that bone.

So what do you do while you wait for your one bone to become 100 bones?

Nothing. That's right, nothing. Just continue to live life. Don't plan on being a millionaire, don't start designing your dream house, don't subscribe to RICH AF magazine. And most of all don't let fluctuating prices take a psychological and emotion toll on you. Currently I am not even going to consider selling any of my positions until December 2018, possibly even 2020 or 2023 if growth is steady. Patience is key and it comes a lot easier if you are not cruising CMC and r/CryptoMarkets 10 times a day.

Instead get out of debt, get healthy, and sleep well knowing you didn't miss one of the most incredible opportunities of your life. Cryptocurrencies and blockchain technology is the future and the market is still in its infancy. The big players have not even RSVP'd yet. So log off, sign out and buckle up! This party has only just started.

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