1. Thinking that you already missed your chance.
– It’s just the beginning. The early adopters just got in, and we just started dumping large sums in recently. Not only are the early adopters becoming evermore invested, we are also looking at another 85% of the population that will get into the market that have yet to do so. Long story short, the longer you wait the more you’ll be kicking yourself in the ass later, especially if you’re using money to solve your problems. 😉
2. Moving money around to play the game.
– Anyone who is making predictions beyond “the market will grow” is full of shit. Yes they may believe that they are right… and they will be wrong. This is a whole new market, plus there are way too many variables. If you want something with more history that you can try to predict you’ll be safer with the stock market. Have you made money consistently in the stock market the same way you hope to in crypto? Good luck.
3. Using it to get rich quick
– You’re likely looking for the next Bitcoin. There’s no such thing. However much money you currently are calling into your life is probably how much money you’re capable of holding. Some market you don’t understand isn’t going to solve that problem for you. If you strike it big and you don’t have capacity to hold that much responsibility it will vanish as quickly as it came in. If you have the capacity to hold that much responsibility, call it in and trust that it will come in a way you never could’ve predicted.
4. Using it to solve your “money problems.”
– See above
5. My strategy
– Equally distribute money into a handful of the most stable currencies, Bitcoin, Ethereum, Litecoin, etc. Leave it there as long as you can. That’s it. You start fucking with it, you’ll be regretting it. Not because you’ll lose money, but because the fact that you’re moving it around probably signifies that you think you know what you’re doing. You’ll be more upset at yourself at the end of the day because you “made a mistake”. Put money in and try to forget about it (coming from a guy who checks it 5 times a day, I think I’m doing pretty good).