The 3 emotional phases of a cryptocurrency investor.

 

Phase 1: The Investment Phase

Okay, so you think your ready to invest. You get your funds together and decide how much money you have to put up. We are gonna go by the number one rule of thumb "Never invest more than you can stand to lose."  So your all set and you open up a acct with a exchange and say I'm ready, lets do this! You have done your research and your excited about this and know its just  gonna enhance your quality of life later down the road when the coins you chose hit the big time. You heard the youtube vloggers "invest $1000 into the right coin and you could be a millionaire by the end of the year." okay, here goes nothing  and we hit the accept button and poof the money is in the wallet and your in there.  After you see your money in the wallet you stop and think "man, that was easy"  we did it and we're gonna make a lot of money. Now we sit back and wait! Now. go back and notice I put investor in the title so don't be getting all trader technical cuz you know its a diff between a day trader and a investor. lol! So now I'm just gonna hodl my coins and pray that this pans out giving me some money to buy that lambo and pay off thee student loans. Shoot a lot of people are doing it and a lot of them have gotten rich so this should be easy. 

 

Phase 2: The phase of regret

So we have been into the crypto game for a few days and it was going so well, but I woke this morning and the shit hit rock bottom. That's right folks I lost a little bit of money for the first time.  I heard nothing from the people when they said "you may loose some money before really earning anything" Now, we panic!  All you can think is why did I do this? People I saw during the research phase said I could get rich. How do I get rich when this market is taking me to the cleaners? I'm freaking out here people I mean c'mon I know I said I didn't invest money I didn't mind losing, but lets be real here we can never really stand to lose money. We live in america where its all about the dollar and how much you have to buy what you want or need. I got it Panic sell. Yup, that's exactly what we do. We wait for it to go back up and I sell and get out of this. Get rich my ass this is gonna suck up all my money before really making me any. Long term investments my ass I'm getting out while I still have a little money left. First tho I have to wait to sell high.

 

Phase 3: The come up

We said we will wait to sell when the money goes up and well, I woke up and the coin has gone up in price. I login to my wallet and * voila* not only is my money in there, but wait you mean to tell me I made a lil sumthin sumthin? This is crazy, but I like it! I was all worried I was gonna lose everything. These non investors don't know what they missing out on. Shoot at this rate I'm in that lambo in a few months atleast. I was just joking about selling. This is how crypto investing goes everybody knows that. some days its down and some days its up, but what I know for sure is I'm not pulling out because soon the money is gonna start pouring in and Id be a fool not to get a piece of the pie.  

When deciding to invest it's so many emotions and feeling you have. We research and decide which coin to invest in and we get our hope us thinking its a get rich quick thing. The realty is if you know the game its far from easy and there are a few times in the process your heart sinks ( the other day was one of them) However what I found as a investor is that If I don't make a habit out of checking it everyday then I'm generally satisfied when I go back and look at my wallet. Just a little crypto humor to get the day started. Be blessed not stressed...I'm out!

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Lyndzee G.