Is it still Early or Too Late to get into cryptocurrency?

That's the question that a lot of people around me still ask and it deserves a blog post for me to write.

How to find out whether you're still early or too late to the game?

One easy and effective way to determine about the timing of something is by surveying for information. This method is not new and has been used over and over again, for about anything. How do you go about doing a survey? No, I'm not talking about putting up a poll or sending out mails or making phone calls. As an individual, you can just casually bring up the topic about bitcoin or any of your favorite crypto currency into a conversation with 10 people around you. The more random of those 10 people, the better your information source will be. If less than 1/3 of the people you talk to have heard about the thing that you want to talk about then it's a good sign of you're still being early in the game. If more than half of the people give you their feedback about the topic, regardless of whether their feedback is accurate or not, then it's a signal that things already have been at its peak. Another confirmation is that if you have no ideas of what other 5+ people's information is accurate or not, then you're definitely late to the game.

What to do if you're still EARLY?

If you find yourself in this situation then congratulations on being early because most of the times the early birds get fresh seeds. You can start investing in what you're confident that will increase in value over time. Not much to say here except to determine on how much to invest and I will write a separate post about that.

What to do if you're LATE?

Well, what do you do when you're late to a party? You pick up your phone and call the host to ask how long the party will last before going there. You simply don't want to show up at a party where everyone is leaving and end up looking like a loser.

Nothing is different here when it comes to investment. If you're late to the game, finding out how long the game will continue to last so that you can determine your entry point. Information is valuable. To find out how long something would last, you will need to get a good understanding of the project, in this case the technology and future of bitcoin or any cryptocurrency that you are interested in. If you believe that the tech and the future of such thing will have tremendously value in a far future based on what you know at the current time then you can decide to go in and feel safe about your investment in the long run. Sure, it sounds like a lot of work but remember that you're late, so you always have to do the homework that the early guys already finished, with even more careful attention because you will be buying in at a higher price.

If what you read does not align with your belief of how the world should work then simply not to participate would be a wise decision.

If you have read and heard a lot about bitcoin / cryptocurrency but still don't understand or grasp the concept then it's also best to not be part of it. Why jump into a river if you don't know how to swim?