Crypto - Did I miss the boat, the dream of getting rich. Perhaps it's time to dip my toe in. Perhaps you can learn from my experience.
A little background - I have been in the IT industry for around 20 years, I had the opportunity to work alongside incredible people that manage to get the impossible done by pushing the envelope and playing on the fringes and ignoring the critics even when everything is pointing against you. Building a software company in a 3rd world country with the dream to make it big. Did we make it big? Time will tell, did we make it absolutely!
I am conservative, and believe the only way is to work your ass off to make money. Nothing comes free.
Rewind a couple years I had a guy on my development team and daily he mentioned bitcoin and you should get into it you have nothing to lose. At the time, I recall (vaguely) he had bought about 2000 of these voodoo coins…. Well even at today's prices he is set if he hanged on to it.
In Dec 2017 the "Fear of losing out" suddenly strangled me….. I opened a Coinbase account and immediately bought $50 BTC and $50 LTC (remember I am conservative). The goal was if I have skin in the game I will start following it. Looking at charts reading people ideas and TA's, getting pass the noise and finding the right people to follow, let me tell you it's hard to not get excited when you see green charts everywhere so naturally I started feeling comfortable to put more "funny" money in towards my retirement. Then came Jan and in a flash I was 50% down on my funny money. No problem right that's why I don't put my life savings into this it's just "funny" money.
To be honest that is BS - nobody gives a random person even $100 with the hope and dream he will give me more back in 30 days.
So, what is my point -
If you are thinking about getting into this do your research, find the projects that you believe in that can make a difference in this world and solve real problems. Take your 'Funny money' and trust me you will suddenly find a lot of it and keep it save on the side line, monitor the market, study read follow, when you get something you think sounds good cross reference with the other sources you found. Don't believe a single person but find something that many so called trusted sources agree on. Trust your own believes.
Having said all of that - I bought in in the middle of the high, I am down 50%. Am I worried NO. I believe crypto is here to stay. Knowing what I know now I would have been on 5-10% down, even a little up perhaps.
I cannot share investment advice, but I would like to document my journey perhaps in 3, 6 or 12 months from now I managed to influence somebody in a positive way.
I will share some resources and links that I found useful in the following post.
I will leave you with this - Don't rush, It is never too late!